Apple’s (AAPL) Underweight Rating Reiterated at KeyCorp

Apple (NASDAQ:AAPL)‘s stock had its “underweight” rating reiterated by research analysts at KeyCorp in a report released on Friday,Briefing.com Automated Import reports. They presently have a $200.00 price target on the iPhone maker’s stock. KeyCorp’s price objective points to a potential downside of 15.83% from the company’s previous close.

A number of other analysts have also weighed in on the company. Morgan Stanley upped their target price on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research report on Tuesday. Moffett Nathanson reissued a “sell” rating and set a $188.00 price target (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Friday. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $239.88.

Apple Price Performance

AAPL opened at $237.62 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business’s fifty day simple moving average is $241.56 and its 200-day simple moving average is $230.86. The company has a market capitalization of $3.57 trillion, a price-to-earnings ratio of 39.08, a PEG ratio of 2.39 and a beta of 1.20. Apple has a 12-month low of $164.07 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. On average, equities research analysts anticipate that Apple will post 7.34 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

A number of institutional investors have recently made changes to their positions in AAPL. State Street Corp boosted its stake in Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. FMR LLC boosted its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC grew its stake in Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after acquiring an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

About Apple

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.