BidaskClub downgraded shares of Apple (NASDAQ:AAPL) from a buy rating to a hold rating in a report released on Wednesday, September 19th.
Several other analysts have also recently commented on AAPL. Morgan Stanley reiterated an overweight rating and issued a $214.00 price objective (up previously from $200.00) on shares of Apple in a research note on Thursday, May 24th. They noted that the move was a valuation call. Maxim Group cut shares of Apple from a buy rating to a hold rating and reduced their price objective for the company from $204.00 to $200.00 in a research note on Wednesday, May 30th. UBS Group lifted their target price on shares of Apple from $190.00 to $210.00 and gave the stock a buy rating in a research report on Friday, June 1st. Royal Bank of Canada lifted their target price on shares of Apple from $203.00 to $210.00 and gave the stock an outperform rating in a research report on Tuesday, June 5th. Finally, Goldman Sachs Group restated a neutral rating and set a $164.00 target price on shares of Apple in a research report on Tuesday, June 5th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirty have given a buy rating to the company. Apple currently has an average rating of Buy and a consensus target price of $221.63.
Apple stock traded up $7.66 during midday trading on Wednesday, hitting $222.11. 39,486,990 shares of the company’s stock were exchanged, compared to its average volume of 31,432,369. The company has a market capitalization of $1,109.54 billion, a P/E ratio of 24.12, a PEG ratio of 1.99 and a beta of 1.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. Apple has a 12-month low of $150.24 and a 12-month high of $233.47.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The business had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $52.43 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts expect that Apple will post 11.76 earnings per share for the current year.
In other news, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the transaction, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at $24,554,471.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Angela J. Ahrendts sold 14,194 shares of the business’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the transaction, the senior vice president now directly owns 105,538 shares in the company, valued at $24,058,442.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 564,185 shares of company stock worth $124,444,213. Corporate insiders own 0.06% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Fort L.P. bought a new position in shares of Apple during the second quarter worth about $119,000. Delphi Private Advisors LLC bought a new position in shares of Apple during the second quarter worth about $120,000. Cranbrook Wealth Management LLC grew its position in shares of Apple by 76.1% during the second quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock worth $129,000 after acquiring an additional 302 shares during the last quarter. Quattro Financial Advisors LLC bought a new position in shares of Apple during the first quarter worth about $133,000. Finally, Smart Portfolios LLC bought a new position in shares of Apple during the first quarter worth about $134,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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