Apple (AAPL) Downgraded by Instinet to Neutral

Apple (NASDAQ:AAPL) was downgraded by equities research analysts at Instinet from a “buy” rating to a “neutral” rating in a report issued on Tuesday. They currently have a $175.00 price target on the iPhone maker’s stock. Instinet’s target price would indicate a potential upside of 0.26% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Nomura set a $175.00 price objective on shares of Apple and gave the stock a “neutral” rating in a research report on Tuesday. UBS restated a “buy” rating and set a $180.00 price objective on shares of Apple in a research report on Tuesday, September 12th. KeyCorp upgraded shares of Apple from a “sector weight” rating to an “overweight” rating and upped their price objective for the stock from $173.75 to $187.00 in a research report on Monday, October 16th. Royal Bank of Canada upped their price objective on shares of Apple from $180.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, September 14th. Finally, Maxim Group restated a “buy” rating and set a $182.00 price objective on shares of Apple in a research report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the stock. Apple presently has a consensus rating of “Buy” and an average target price of $197.14.

Apple (NASDAQ AAPL) traded down $1.88 on Tuesday, hitting $174.54. 27,403,971 shares of the company traded hands, compared to its average volume of 27,268,604. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. Apple has a 1 year low of $114.76 and a 1 year high of $177.20. The firm has a market cap of $896,140.00, a PE ratio of 18.91, a P/E/G ratio of 1.39 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. During the same period in the previous year, the business posted $1.50 EPS. The business’s revenue was up 12.2% compared to the same quarter last year. analysts forecast that Apple will post 11.18 earnings per share for the current fiscal year.

In related news, SVP Johny Srouji sold 5,760 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total value of $1,004,544.00. Following the completion of the sale, the senior vice president now owns 81,560 shares of the company’s stock, valued at $14,224,064. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip W. Schiller sold 56,808 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total transaction of $8,788,197.60. The disclosure for this sale can be found here. Insiders sold 232,967 shares of company stock valued at $37,944,683 in the last three months. 0.08% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in Apple by 301.3% during the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after buying an additional 15,018,790 shares during the period. Harbour Capital Advisors LLC lifted its position in shares of Apple by 14,030.2% during the second quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock worth $31,352,000 after purchasing an additional 4,483,360 shares in the last quarter. Truepoint Inc. lifted its position in shares of Apple by 15,559.4% during the third quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock worth $4,437,000 after purchasing an additional 4,408,441 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after purchasing an additional 3,845,363 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Apple by 9,166.4% during the third quarter. Stifel Financial Corp now owns 3,883,754 shares of the iPhone maker’s stock worth $598,497,000 after purchasing an additional 3,841,842 shares in the last quarter. 59.62% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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