Apple (NASDAQ:AAPL) Stock Rating Reaffirmed by Barclays

Barclays reiterated their underweight rating on shares of Apple (NASDAQ:AAPL) in a report released on Tuesday, Benzinga reports. Barclays currently has a $186.00 price objective on the iPhone maker’s stock.

AAPL has been the subject of several other research reports. Raymond James lifted their price target on shares of Apple from $200.00 to $250.00 and gave the company an outperform rating in a research report on Friday, July 26th. JPMorgan Chase & Co. restated an overweight rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Robert W. Baird upped their price target on Apple from $200.00 to $240.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Piper Sandler restated a neutral rating and set a $225.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Finally, Loop Capital upgraded shares of Apple from a hold rating to a buy rating and increased their price objective for the company from $170.00 to $300.00 in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $238.76.

Apple Stock Performance

NASDAQ:AAPL opened at $226.80 on Tuesday. Apple has a 1-year low of $164.07 and a 1-year high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.48 trillion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The stock’s 50-day moving average is $222.90 and its 200-day moving average is $203.86.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same quarter last year, the business earned $1.26 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Apple will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 458,619 shares of company stock valued at $101,352,630 in the last three months. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Verus Financial Partners Inc. boosted its stake in Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares in the last quarter. Brown Financial Advisory lifted its holdings in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares during the last quarter. Core Wealth Management Inc. lifted its holdings in Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after acquiring an additional 50 shares during the last quarter. Lowery Thomas LLC boosted its position in shares of Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after purchasing an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. grew its stake in shares of Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.