Goldman Sachs Adjusts Apple Price Target to $280.00

Apple Inc. (NASDAQ:AAPL) has seen a revision in its price target set by The Goldman Sachs Group, down from $286.00 to $280.00 as per a recent research note released on Thursday. Despite this adjustment, the investment firm maintains a "buy" rating for the tech giant's stock, suggesting a considerable potential uplift of 25.09% from its most recent closing price.

Other Analysts' Opinions

In addition to Goldman Sachs, various other analysts have weighed in on Apple recently. For instance, Piper Sandler reaffirmed a "neutral" rating with a price target of $225.00 in a report dated October 9th. On October 23rd, Citigroup raised its target for Apple shares to $185.00 while also issuing a "buy" recommendation. Meanwhile, UBS Group retained a "neutral" rating, setting their target at $236.00 on December 2nd. Additionally, Maxim Group has increased its target price from $203.00 to $215.00, recommending a "hold" rating. Evercore ISI also reiterated a "buy" rating, placing a target of $250.00 on Apple shares in their report released on September 26th. In total, the stock has received four sell ratings, nine hold ratings, twenty-two buy ratings, and one strong buy rating from analysts. The consensus rating for Apple stands at a "Moderate Buy" with an average target of approximately $238.14, according to MarketBeat data.

Apple's Recent Performance

As of Thursday, shares of Apple opened at $223.83. The company's financial metrics show a debt-to-equity ratio of 1.51, a quick ratio of 0.83, and a current ratio of 0.87. Its fifty-day moving average is reported at $241.07, and the 200-day moving average stands at $230.77. With a market capitalization nearing $3.37 trillion, the stock currently carries a P/E ratio of 36.81 and a P/E/G ratio of 2.18, along with a beta of 1.20. Over the past year, Apple shares have fluctuated between a low of $164.07 and a high of $260.10.

Earnings Report Insights

On October 31st, Apple released its quarterly earnings, reporting earnings per share (EPS) of $1.64, surpassing analysts' expectations of $1.60 by four cents. The company generated revenue of $94.93 billion during the quarter, exceeding the projection of $94.52 billion. With a return on equity of 152.94% and a net margin of 23.97%, Apple's revenue was up by 6.1% year-over-year, compared to the same quarter in the previous year where the EPS was reported at $1.46. Analysts are currently projecting an EPS of 7.43 for the current fiscal year.

Insider Trading Activities

Regarding insider transactions, Chris Kondo, an insider at Apple, sold 4,130 shares on November 18th, fetching an average price of $228.87 for a total of approximately $945,233. Additionally, COO Jeffrey E. Williams sold 100,000 shares on December 16th at an average price of $249.97, totaling around $24.99 million. These sales indicate a decrease of 21.13% and 20.41% in their respective holdings. Currently, corporate insiders own about 0.06% of the company's stock.

Institutional Investment Trends

Institutional investment in Apple has also seen some activity recently. O'Connor Financial Group LLC increased its holdings by 1.2%, representing 3,578 shares valued at approximately $896,000 after acquiring an additional 41 shares. Similarly, 1620 Investment Advisors Inc. raised its stake by 0.5%, owning now 9,654 shares valued at $2.24 million. Carolina Wealth Advisors LLC, too, increased its holdings by 1.3%, totaling 3,489 shares at about $813,000. In total, institutional investors hold around 67.73% of Apple's shares.

Apple's Business Overview

Apple Inc. designs and markets a variety of consumer electronics, including its well-known iPhone smartphones, Mac computers, iPad tablets, as well as several wearables and accessories. The company also offers products like AirPods, Apple Watch, Apple TV, and more.

Apple, Goldman, Stocks