Atlantic Securities cut shares of Apple (NASDAQ:AAPL) from an overweight rating to a neutral rating in a report issued on Monday morning, Marketbeat.com reports. Atlantic Securities currently has $190.00 price objective on the iPhone maker’s stock, up from their previous price objective of $177.35. The analysts noted that the move was a valuation call.

Several other equities analysts have also recently issued reports on AAPL. Nomura set a $185.00 price objective on Apple and gave the stock a buy rating in a research note on Monday, September 25th. Sanford C. Bernstein restated a buy rating and set a $175.00 price objective on shares of Apple in a research note on Tuesday, September 26th. Bank of America restated a buy rating and set a $180.00 price objective on shares of Apple in a research note on Tuesday, September 26th. Drexel Hamilton restated a buy rating and set a $208.00 price objective on shares of Apple in a research note on Monday, September 25th. Finally, Raymond James Financial restated an outperform rating and set a $180.00 price objective (up from $170.00) on shares of Apple in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $200.70.

Apple (NASDAQ AAPL) traded up $0.04 during mid-day trading on Monday, hitting $177.04. 32,400,000 shares of the stock were exchanged, compared to its average volume of 25,630,000. Apple has a twelve month low of $119.50 and a twelve month high of $180.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23. The firm has a market capitalization of $908,980.00, a P/E ratio of 19.26, a P/E/G ratio of 1.44 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. During the same quarter last year, the company earned $1.50 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. research analysts forecast that Apple will post 11.15 EPS for the current fiscal year.

In other news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the transaction, the insider now owns 13,739 shares of the company’s stock, valued at $2,401,302.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Johny Srouji sold 5,760 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 81,560 shares in the company, valued at approximately $14,224,064. The disclosure for this sale can be found here. In the last three months, insiders sold 128,412 shares of company stock worth $22,115,155. Insiders own 0.06% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AAPL. Blue Sky Asset Management LLC acquired a new position in Apple in the second quarter valued at about $108,000. FNY Managed Accounts LLC lifted its stake in Apple by 852.4% in 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. Private Vista LLC acquired a new position in Apple in the second quarter valued at about $122,000. Armbruster Capital Management Inc. lifted its stake in Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after buying an additional 78 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in Apple in the second quarter valued at about $149,000. 60.20% of the stock is currently owned by institutional investors and hedge funds.

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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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