Apple Inc. (AAPL) Downgraded by Vetr Inc. to “Hold”
Vetr downgraded shares of Apple Inc. (NASDAQ:AAPL) from a buy rating to a hold rating in a research note published on Monday. The brokerage currently has $171.48 target price on the iPhone maker’s stock.
Other equities analysts also recently issued reports about the company. BMO Capital Markets restated an outperform rating and issued a $170.00 target price on shares of Apple in a research note on Tuesday, July 25th. Zacks Investment Research downgraded Apple from a buy rating to a hold rating in a research note on Monday. Drexel Hamilton reaffirmed a buy rating and set a $208.00 price target on shares of Apple in a report on Monday. Nomura reaffirmed a buy rating and set a $165.00 price target on shares of Apple in a report on Wednesday, July 5th. Finally, Barclays PLC reaffirmed a hold rating and set a $146.00 price target on shares of Apple in a report on Tuesday, August 15th. Eight analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $193.36.
Apple (NASDAQ:AAPL) traded up 1.26% during mid-day trading on Monday, reaching $168.82. The company’s stock had a trading volume of 21,164,597 shares. Apple has a 12 month low of $104.08 and a 12 month high of $169.20. The firm has a market capitalization of $871.99 billion, a PE ratio of 19.17 and a beta of 1.27. The stock’s 50-day moving average is $156.87 and its 200-day moving average is $152.95.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. Apple’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 year.
In other news, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Philip W. Schiller sold 56,808 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was 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. In the last quarter, insiders sold 541,177 shares of company stock valued at $85,864,804. Company insiders own 0.08% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of AAPL. Blue Sky Asset Management LLC bought a new position in Apple during the second quarter valued at about $108,000. Hefty Wealth Partners grew its position in Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares during the period. FNY Managed Accounts LLC grew its position in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares during the period. American Beacon Advisors Inc. bought a new position in Apple during the first quarter valued at about $117,000. Finally, Private Vista LLC bought a new position in Apple during the second quarter valued at about $122,000. Hedge funds and other institutional investors own 60.33% 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.
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