Barclays Raises Apple Price Target to $184.00

On Friday, Barclays announced an increase in its price target for Apple Inc. (NASDAQ:AAPL) shares, setting the new target at $184.00. Despite the price adjustment, Barclays maintains a "sell" rating on the company's stock, indicating their cautious stance on Apple's future performance. This new price target suggests a potential downside of approximately 22.35% from the current market price.

Analyst Recommendations on Apple Stock

Apple’s stock has been the subject of various analyses by different financial institutions. For instance, shortly before Barclays' update, Piper Sandler reaffirmed a "neutral" rating with a price target set at $225.00 as of October 9. Oppenheimer remained bullish, maintaining a "buy" rating with a price target of $250.00 reported on October 1. Meanwhile, Morgan Stanley reiterated an "overweight" rating, assigning a high price target of $273.00 in their analysis published on December 13. Bank of America also highlighted its confidence by issuing a "buy" rating and setting a target of $256.00 as of January 3. In contrast, Moffett Nathanson expressed a more conservative view by reaffirming a "sell" rating and adjusting their target down to $188.00 from a previous $202.00.

Market Performance

On the same day of the Barclays report, shares of Apple saw a downturn, trading at $236.97, which reflects a decrease of 2.4%. During midday trading, about 9.2 million shares changed hands, compared to an average trading volume of approximately 37.6 million. The company currently holds a market capitalization of around $3.58 trillion. Key financial metrics include a PE ratio of 38.98, a P/E/G ratio of 2.41, a quick ratio of 0.83, and a current ratio of 0.87. Apple's stock has experienced a fifty-two week range between $164.07 and $260.10, with a fifty-day simple moving average at $239.91 and a two-hundred-day simple moving average at $229.75.

Recent Earnings Report

Apple's quarterly earnings report released on October 31 showed that the company earned $1.64 per share, surpassing analysts' predictions of $1.60 by a slight margin. The company's revenue for the quarter reached $94.93 billion, exceeding the expected $94.52 billion, and marked a 6.1% increase compared to the same period last year. Analysts anticipate that Apple’s earnings per share will average around 7.43 for the current year.

Insider Activity

In recent transactions, Apple insiders have sold shares, reflecting their decisions amid market fluctuations. Insider Chris Kondo sold 4,130 shares on November 18 at an average price of $228.87, totaling approximately $945,233. Following this sale, Kondo's holdings dropped by 21.13% to 15,419 shares valued at about $3.53 million. Additionally, COO Jeffrey E. Williams sold 100,000 shares on December 16 for about $25 million. These transactions highlight a decrease in their ownership stakes

Institutional Stake Changes

Several large investors have altered their positions in Apple recently. Bull Oak Capital LLC, for instance, significantly increased its stake by 252.3% in the third quarter, owning 155 shares valued at $36,000 after acquiring an additional 111 shares. Meanwhile, Hershey Financial Advisers LLC took a new position in Apple in the second quarter worth approximately $42,000. The trend shows that overall, institutional investors control about 67.73% of Apple's stock.

About Apple Inc.

Apple Inc. designs, manufactures, and markets a wide range of consumer electronics. The company's product lines include the iPhone smartphones, Mac personal computers, iPad tablets, and various accessories such as AirPods, Apple Watch, and others. With a strong presence in the technology sector, Apple continues to be a key player in innovations, offering products and services that appeal to a diverse audience.

Apple, Barclays, Stock