Apple Inc. (NASDAQ:AAPL) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Monday. They currently have a $171.48 price objective on the iPhone maker’s stock. Vetr‘s target price indicates a potential upside of 2.86% from the company’s current price.

A number of other research analysts have also recently weighed in on AAPL. Citigroup Inc. reissued a “buy” rating and set a $160.00 price objective on shares of Apple in a research note on Tuesday, July 4th. Instinet reissued a “buy” rating and set a $165.00 price objective on shares of Apple in a research note on Wednesday, July 5th. Nomura reissued a “buy” rating and set a $165.00 price objective on shares of Apple in a research note on Wednesday, July 5th. Raymond James Financial, Inc. reissued an “outperform” rating and set a $163.00 price objective on shares of Apple in a research note on Thursday, July 6th. Finally, Drexel Hamilton reissued a “buy” rating and set a $202.00 price objective on shares of Apple in a research note on Thursday, July 6th. Nine equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $193.01.

Apple (NASDAQ:AAPL) traded up 2.25% during midday trading on Monday, reaching $166.72. The company had a trading volume of 44,700,772 shares. The firm’s 50 day moving average is $156.87 and its 200 day moving average is $152.95. The stock has a market capitalization of $861.15 billion, a PE ratio of 18.93 and a beta of 1.27. Apple has a 1-year low of $104.08 and a 1-year high of $168.07.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same period last year, the company posted $1.42 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Apple will post $9.00 EPS for the current fiscal year.

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In related news, insider Craig Federighi sold 63,163 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $158.07, for a total transaction of $9,984,175.41. Following the completion of the sale, the insider now owns 359,988 shares in the company, valued at approximately $56,903,303.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold a total of 541,177 shares of company stock valued at $85,864,804 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in AAPL. Guild Investment Management Inc. grew its holdings in Apple by 192.2% during the 1st quarter. Guild Investment Management Inc. now owns 14,305 shares of the iPhone maker’s stock worth $2,056,000 after acquiring an additional 9,410 shares during the last quarter. American National Bank grew its holdings in Apple by 1.0% during the 1st quarter. American National Bank now owns 50,802 shares of the iPhone maker’s stock worth $7,301,000 after acquiring an additional 527 shares during the last quarter. Atria Investments LLC grew its holdings in Apple by 10.1% during the 1st quarter. Atria Investments LLC now owns 108,790 shares of the iPhone maker’s stock worth $15,629,000 after acquiring an additional 9,971 shares during the last quarter. Integrated Wealth Management grew its holdings in Apple by 4.8% during the 1st quarter. Integrated Wealth Management now owns 67,469 shares of the iPhone maker’s stock worth $9,692,000 after acquiring an additional 3,083 shares during the last quarter. Finally, First National Bank & Trust Co. of Newtown grew its holdings in Apple by 1.2% during the 1st quarter. First National Bank & Trust Co. of Newtown now owns 54,394 shares of the iPhone maker’s stock worth $7,814,000 after acquiring an additional 626 shares during the last quarter. Institutional investors and hedge funds own 60.33% of the company’s stock.

About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

To view Vetr’s full report, visit Vetr’s official website.

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