Apple Inc. (AAPL) Stock Rating Lowered by Vetr Inc.
Apple Inc. (NASDAQ:AAPL) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Friday. They presently have a $176.88 target price on the iPhone maker’s stock. Vetr‘s price target would indicate a potential upside of 3.96% from the company’s previous close.
AAPL has been the topic of a number of other research reports. Rosenblatt Securities reissued a “hold” rating and issued a $150.00 price target on shares of Apple in a report on Sunday, October 15th. Citigroup Inc. reaffirmed a “buy” rating and set a $200.00 target price (up previously from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 target price on shares of Apple in a report on Tuesday, September 26th. Pacific Crest raised shares of Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 target price on the stock in a report on Monday, October 16th. Finally, FBN Securities reaffirmed a “buy” rating and set a $180.00 target price (up previously from $160.00) on shares of Apple in a report on Thursday, August 3rd. Seven research analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $200.24.
Shares of Apple (AAPL) traded down $0.95 during trading hours on Friday, hitting $170.15. 21,665,811 shares of the stock were exchanged, compared to its average volume of 27,215,137. The company has a market cap of $878,480.00, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. Apple has a 1 year low of $108.25 and a 1 year high of $176.24. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.50 EPS. research analysts forecast that Apple will post 11.15 earnings per share for the current fiscal year.
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In related news, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Johny Srouji sold 5,892 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the transaction, the insider now owns 70,358 shares in the company, valued at approximately $11,327,638. The disclosure for this sale can be found here. In the last quarter, insiders sold 410,352 shares of company stock worth $65,356,512. 0.08% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of AAPL. Mn Services Vermogensbeheer B.V. increased its holdings in Apple by 1.9% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 142,517 shares of the iPhone maker’s stock worth $19,143,000 after buying an additional 2,683 shares during the period. Sippican Capital Advisors grew its stake in shares of Apple by 0.5% during the 1st quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock worth $706,000 after purchasing an additional 26 shares during the period. Pinnacle Advisory Group Inc. grew its stake in shares of Apple by 11.3% during the 1st quarter. Pinnacle Advisory Group Inc. now owns 15,241 shares of the iPhone maker’s stock worth $2,190,000 after purchasing an additional 1,553 shares during the period. Waldron LP grew its stake in shares of Apple by 37.9% during the 1st quarter. Waldron LP now owns 46,930 shares of the iPhone maker’s stock worth $6,722,000 after purchasing an additional 12,898 shares during the period. Finally, Brightworth grew its stake in shares of Apple by 8.6% during the 1st quarter. Brightworth now owns 3,594 shares of the iPhone maker’s stock worth $516,000 after purchasing an additional 284 shares during the period. Institutional investors own 60.38% of the company’s stock.
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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