Apple (NASDAQ:AAPL) Price Target Cut to $200.00 by Analysts at Morgan Stanley

Apple (NASDAQ:AAPL) had its target price cut by Morgan Stanley from $205.00 to $200.00 in a research report report published on Thursday, January 25th. They currently have an overweight rating on the iPhone maker’s stock.

Several other equities research analysts have also recently issued reports on the stock. Sanford C. Bernstein set a $195.00 price objective on shares of Apple and gave the company a buy rating in a research report on Wednesday, January 24th. Canaccord Genuity reaffirmed a buy rating and issued a $200.00 price target (up previously from $195.00) on shares of Apple in a research report on Wednesday, January 24th. Atlantic Securities cut shares of Apple from an overweight rating to a neutral rating and upped their price target for the stock from $177.35 to $190.00 in a research report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research cut shares of Apple from a buy rating to a hold rating in a research report on Friday, January 19th. Finally, Rosenblatt Securities reaffirmed a buy rating and issued a $180.00 price target on shares of Apple in a research report on Friday, January 19th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $201.72.

Apple (NASDAQ AAPL) opened at $162.71 on Thursday. The company has a market cap of $825,590.00, a PE ratio of 16.74, a P/E/G ratio of 1.18 and a beta of 1.33. Apple has a fifty-two week low of $132.05 and a fifty-two week high of $180.10. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, beating the consensus estimate of $3.82 by $0.07. The company had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.36 EPS. equities analysts predict that Apple will post 11.4 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 12th will be paid a $0.63 dividend. The ex-dividend date is Friday, February 9th. This represents a $2.52 dividend on an annualized basis and a yield of 1.55%. Apple’s dividend payout ratio is currently 25.93%.

In other news, SVP Johny Srouji sold 5,760 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the completion of the sale, the senior vice president now owns 81,560 shares in the company, valued at approximately $14,224,064. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the sale, the insider now owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The disclosure for this sale can be found here. Insiders sold 112,771 shares of company stock valued at $19,419,429 in the last quarter. 0.06% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Blue Sky Asset Management LLC acquired a new position in Apple in the 2nd quarter valued at $108,000. University of Texas Investment Managment Co. acquired a new position in Apple in the 4th quarter valued at $114,000. FNY Managed Accounts LLC increased its stake in Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares during the period. Private Vista LLC acquired a new position in Apple in the 2nd quarter valued at $122,000. Finally, Armbruster Capital Management Inc. increased its stake in Apple by 9.4% in the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 60.18% of the company’s stock.

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About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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