Apple (AAPL) Downgraded by Vetr to “Buy”

Apple (NASDAQ:AAPL) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday. They currently have a $187.18 price target on the iPhone maker’s stock. Vetr‘s price target indicates a potential upside of 11.84% from the company’s current price.

AAPL has been the topic of several other reports. Mizuho set a $160.00 target price on shares of Apple and gave the stock a “hold” rating in a report on Wednesday, October 18th. Sanford C. Bernstein upgraded shares of Apple to an “outperform” rating and set a $175.00 price target on the stock in a report on Monday, October 23rd. Royal Bank of Canada restated a “buy” rating and issued a $180.00 price target on shares of Apple in a report on Monday, October 23rd. UBS Group restated a “buy” rating and issued a $180.00 price target on shares of Apple in a report on Monday, October 23rd. Finally, Drexel Hamilton restated a “buy” rating and issued a $208.00 price target on shares of Apple in a report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $201.64.

Shares of Apple (AAPL) traded up $3.03 on Wednesday, hitting $167.37. 39,669,178 shares of the stock traded hands, compared to its average volume of 40,150,000. Apple has a 1-year low of $133.25 and a 1-year high of $180.10. The stock has a market capitalization of $849,240.00, a P/E ratio of 16.38, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.82 by $0.07. The business had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.36 earnings per share. sell-side analysts forecast that Apple will post 11.4 EPS for the current year.

In related news, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $174.78, for a total value of $2,733,733.98. Following the sale, the insider now directly owns 13,739 shares in the company, valued at approximately $2,401,302.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Johny Srouji sold 10,368 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the sale, the insider now owns 81,560 shares in the company, valued at $14,246,900.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,771 shares of company stock worth $19,419,429. Insiders own 0.06% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Stone House Investment Management LLC grew its position in shares of Apple by 0.4% during the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after buying an additional 6 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its position in shares of Apple by 0.3% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock worth $782,000 after buying an additional 17 shares in the last quarter. Karp Capital Management Corp grew its position in shares of Apple by 1.6% during the second quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock worth $206,000 after buying an additional 22 shares in the last quarter. Welch Investments LLC grew its position in shares of Apple by 1.5% during the second quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock worth $231,000 after buying an additional 23 shares in the last quarter. Finally, Berkeley Capital Partners LLC grew its position in shares of Apple by 0.6% during the second quarter. Berkeley Capital Partners LLC now owns 4,369 shares of the iPhone maker’s stock worth $629,000 after buying an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 60.18% of the company’s stock.

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Apple Company Profile

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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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