Barclays Raises Apple Price Target to $184.00

In a recent update, Barclays announced an increase in their price target for Apple Inc. (NASDAQ:AAPL) to $184.00, as reported in a research note issued to investors on Friday. Despite this upward adjustment in the price target, Barclays has assigned a "sell" rating for the iPhone manufacturer's stock. The new price target suggests that there is a potential downside of approximately 22.35% from the stock's current trading price.

Apple has been featured prominently in various analysts' reports recently. For instance, Piper Sandler reiterated a "neutral" rating and established a price target of $225.00 for Apple's shares on October 9th. Similarly, Oppenheimer maintained a "buy" rating while setting a price target of $250.00 on October 1st. In a research note from Morgan Stanley dated December 13th, the firm restated an "overweight" rating and projected a price target of $273.00 for Apple shares. Bank of America also confirmed a "buy" rating with a price target of $256.00 on January 3rd. Furthermore, Moffett Nathanson updated their rating to "sell" while lowering their price target to $188.00 from a previous $202.00.

The ratings from analysts show a mix of perspectives on Apple stock, with three analysts issuing a "sell" rating and eleven assigning a "hold" rating. There are also 23 analysts who have assigned a "buy" rating and one who has given a "strong buy" designation. According to data from MarketBeat.com, the average rating for Apple stock is categorized as "Moderate Buy," with an average target price of $237.64.

Apple's Stock Movement

During midday trading on Friday, shares of Apple were down by 2.4%, with the stock trading at $236.97. The trading volume for the day reached approximately 9,210,900 shares, compared to an average volume of around 37,582,883 shares. Apple has a market capitalization of $3.58 trillion, a price-to-earnings (P/E) ratio of 38.98, and a P/E to growth (P/E/G) ratio of 2.41. The company's current ratios include a quick ratio of 0.83 and a current ratio of 0.87, with a debt-to-equity ratio of 1.51. Over the past fifty-two weeks, Apple stock has seen a low of $164.07 and a high of $260.10. The fifty-day simple moving average stands at $239.91, while the two-hundred-day simple moving average is at $229.75.

In its latest quarterly earnings report released on October 31st, Apple reported earnings of $1.64 per share (EPS), surpassing analysts' estimates of $1.60 by $0.04. The company also reported a revenue of $94.93 billion for the quarter, which exceeded the analysts' consensus estimate of $94.52 billion. This revenue figure marks a 6.1% increase compared to the same quarter in the previous year. Analysts predict that Apple is likely to achieve an EPS of 7.43 for the current fiscal year.

Insider Trading Activities

In related news, insider Chris Kondo sold 4,130 shares of Apple stock on November 18th at an average price of $228.87, totaling approximately $945,233.10. Following this transaction, Kondo retained ownership of 15,419 shares in Apple, valued at about $3,528,946.53, reflecting a 21.13% reduction in his stake. Another insider, COO Jeffrey E. Williams, sold 100,000 shares on December 16th at an average price of $249.97, resulting in a total sale value of $24,997,000.00. Following this sale, Williams now directly owns 389,944 shares in Apple, worth around $97,474,301.68, indicating a 20.41% decrease in his ownership. The company's corporate insiders currently hold approximately 0.06% of Apple shares.

Institutional Stake Changes

Several large investors have recently altered their positions in Apple. Bull Oak Capital LLC expanded its stake in Apple by 252.3% in the third quarter, amassing 155 shares valued at $36,000 after acquiring an additional 111 shares. Hershey Financial Advisers LLC also acquired a new position in Apple during the second quarter, worth about $42,000. Additionally, Christopher J. Hasenberg Inc. increased its stake in Apple by 88.9% during the third quarter, owning now 306 shares valued at $69,000 after purchasing an extra 144 shares. Other institutional investors, like SPX Gestao de Recursos Ltda and Teachers Insurance & Annuity Association, have also initiated new positions in Apple, indicating a growing interest among institutional investors. Overall, institutional investors collectively own approximately 67.73% of Apple’s shares.

Company Overview

Apple Inc. is a global leader in designing, manufacturing, and marketing a wide range of consumer electronics, including smartphones, personal computers, tablets, wearables, and accessories. Its main product lines include the iPhone smartphones, Mac personal computers, iPad tablets, as well as wearables and other accessories such as AirPods, Apple TV, Apple Watch, and HomePod.

Barclays, Apple, Stock