ValuEngine Lowers Apple (AAPL) to Hold
ValuEngine downgraded shares of Apple (NASDAQ:AAPL) from a buy rating to a hold rating in a research note published on Thursday.
Several other research firms also recently commented on AAPL. Mizuho set a $160.00 price objective on Apple and gave the company a hold rating in a research note on Wednesday, October 18th. Vetr downgraded Apple from a buy rating to a hold rating and set a $178.34 price objective for the company. in a research note on Friday, December 1st. UBS Group set a $190.00 price objective on Apple and gave the company a buy rating in a research note on Friday, January 5th. Needham & Company LLC upped their price objective on Apple from $175.00 to $200.00 and gave the company a buy rating in a research note on Friday, November 3rd. Finally, Morgan Stanley reaffirmed a buy rating and set a $205.00 price objective (up from $200.00) on shares of Apple in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $201.72.
Shares of Apple (NASDAQ:AAPL) opened at $156.41 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market capitalization of $793,630.00, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.18 and a beta of 1.33. Apple has a one year low of $132.05 and a one year high of $180.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 12th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, February 9th. This represents a $2.52 annualized dividend and a dividend yield of 1.61%. Apple’s dividend payout ratio is presently 25.93%.
In other news, insider Johny Srouji sold 10,368 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the transaction, the insider now directly owns 81,560 shares in the company, valued at $14,246,900.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $172.35, for a total value of $2,695,726.35. Following the transaction, the insider now owns 39,682 shares of the company’s stock, valued at $6,839,192.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,412 shares of company stock valued at $22,115,155. Insiders own 0.08% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings 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 purchasing an additional 15,018,790 shares in the last quarter. Harbour Capital Advisors LLC raised its holdings in 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. raised its holdings in 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 raised its holdings in 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 raised its holdings in 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. Institutional investors and hedge funds own 60.23% 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 ValuEngine’s full report, visit ValuEngine’s official website.
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