Analysts’ Weekly Ratings Changes for Apple (AAPL)

Posted by Darlene League on Oct 11th, 2024

Several brokerages have updated their recommendations and price targets on shares of Apple (NASDAQ: AAPL) in the last few weeks:

10/9/2024 – Apple had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $225.00 price target on the stock.
10/7/2024 – Apple was downgraded by analysts at Jefferies Financial Group Inc. from a “buy” rating to a “hold” rating. They now have a $212.92 price target on the stock, up previously from $205.00.
10/3/2024 – Apple had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $256.00 price target on the stock.
10/2/2024 – Apple was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
10/2/2024 – Apple had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $255.00 price target on the stock.
10/1/2024 – Apple had its “underweight” rating reaffirmed by analysts at Barclays PLC. They now have a $186.00 price target on the stock.
10/1/2024 – Apple had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $250.00 price target on the stock.
9/26/2024 – Apple had its “buy” rating reaffirmed by analysts at Evercore ISI. They now have a $250.00 price target on the stock.
9/25/2024 – Apple had its “neutral” rating reaffirmed by analysts at New Street Research. They now have a $225.00 price target on the stock.
9/20/2024 – Apple was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
9/19/2024 – Apple had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $260.00 price target on the stock.
9/16/2024 – Apple had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $250.00 price target on the stock.
9/12/2024 – Apple was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
9/10/2024 – Apple had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $265.00 price target on the stock.
9/10/2024 – Apple had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $273.00 price target on the stock.
9/10/2024 – Apple had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $250.00 price target on the stock.
9/10/2024 – Apple had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $225.00 price target on the stock.
9/10/2024 – Apple had its “hold” rating reaffirmed by analysts at Maxim Group. They now have a $203.00 price target on the stock.
9/10/2024 – Apple had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $261.00 price target on the stock.
9/10/2024 – Apple had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $260.00 price target on the stock.
9/9/2024 – Apple had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $285.00 price target on the stock.
9/9/2024 – Apple had its “buy” rating reaffirmed by analysts at Monness Crespi & Hardt. They now have a $245.00 price target on the stock.
9/5/2024 – Apple had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $256.00 price target on the stock.
9/4/2024 – Apple had its price target raised by analysts at UBS Group AG from $190.00 to $236.00. They now have a “neutral” rating on the stock.
8/28/2024 – Apple had its price target raised by analysts at Tigress Financial from $245.00 to $295.00. They now have a “strong-buy” rating on the stock.
8/28/2024 – Apple had its “hold” rating reaffirmed by analysts at KeyCorp. They now have a $247.61 price target on the stock.
8/27/2024 – Apple had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $273.00 price target on the stock.
8/27/2024 – Apple had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $250.00 price target on the stock.
8/27/2024 – Apple had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $225.00 price target on the stock.
8/27/2024 – Apple had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $255.00 price target on the stock.
8/27/2024 – Apple had its “buy” rating reaffirmed by analysts at Melius Research. They now have a $265.00 price target on the stock.
8/27/2024 – Apple had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $256.00 price target on the stock.
8/19/2024 – Apple is now covered by analysts at Moffett Nathanson. They set a “neutral” rating and a $211.00 price target on the stock.

Apple Stock Down 0.5 %

NASDAQ AAPL traded down $1.19 during trading hours on Friday, reaching $227.85. 9,189,646 shares of the company’s stock traded hands, compared to its average volume of 60,442,914. The firm has a market cap of $3.46 trillion, a PE ratio of 34.68, a PEG ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The firm has a 50-day simple moving average of $223.47 and a 200 day simple moving average of $205.31.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the previous year, the firm posted $1.26 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s payout ratio is presently 15.22%.

Insider Transactions at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. This trade 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 517,924 shares of company stock valued at $114,786,399 in the last quarter. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAPL. Fidelis Capital Partners LLC lifted its stake in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple during the fourth quarter valued at approximately $39,000. Hershey Financial Advisers LLC bought a new position in Apple in the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc boosted its stake in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. grew its position in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares during the period. Institutional investors own 60.41% of the company’s stock.

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.