Apple Inc. (AAPL) Cut to Hold at BidaskClub
Apple Inc. (NASDAQ:AAPL) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.
Several other analysts also recently issued reports on the company. Keefe, Bruyette & Woods set a $170.00 target price on Apple and gave the company a “buy” rating in a research note on Monday, May 22nd. Stifel Nicolaus reissued a “hold” rating and set a $130.00 target price on shares of Apple in a research note on Friday, March 3rd. Oppenheimer Holdings, Inc. reissued a “” rating on shares of Apple in a research note on Wednesday, February 22nd. Deutsche Bank AG set a $125.00 target price on Apple and gave the company a “neutral” rating in a research note on Tuesday, February 21st. Finally, Barclays PLC set a $123.00 target price on Apple and gave the company a “neutral” rating in a research note on Wednesday, May 3rd. Ten investment analysts have rated the stock with a hold rating, forty have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $160.63.
Shares of Apple (NASDAQ:AAPL) traded down 0.93% during midday trading on Thursday, hitting $143.81. The stock had a trading volume of 1,513,351 shares. Apple has a 12 month low of $91.50 and a 12 month high of $156.65. The firm has a market cap of $749.80 billion, a price-to-earnings ratio of 16.87 and a beta of 1.28. The stock’s 50 day moving average price is $151.25 and its 200 day moving average price is $134.88.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The firm had revenue of $52.90 billion for the quarter, compared to analysts’ expectations of $52.61 billion. On average, equities analysts forecast that Apple will post $8.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 1.74%. Apple’s dividend payout ratio (DPR) is 29.47%.
TRADEMARK VIOLATION WARNING: This piece was first published by Daily Political and is the property of of Daily Political. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/06/15/apple-inc-aapl-cut-to-hold-at-bidaskclub.html.
In related news, insider Luca Maestri sold 4,757 shares of Apple stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the transaction, the insider now directly owns 3,414 shares in the company, valued at $528,145.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $155.32, for a total value of $1,855,918.68. Following the completion of the transaction, the insider now owns 13,049 shares of the company’s stock, valued at $2,026,770.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 447,411 shares of company stock valued at $67,200,745. 0.08% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JJJ Advisors Inc. raised its position in Apple by 0.9% in the first quarter. JJJ Advisors Inc. now owns 1,533 shares of the iPhone maker’s stock worth $220,000 after buying an additional 14 shares during the period. Shoker Investment Counsel Inc. raised its position in Apple by 0.3% in the first quarter. Shoker Investment Counsel Inc. now owns 5,196 shares of the iPhone maker’s stock worth $746,000 after buying an additional 17 shares during the period. Stonehearth Capital Management LLC raised its position in Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares during the period. Noven Financial Group Inc. raised its position in Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock worth $857,000 after buying an additional 22 shares during the period. Finally, Asset Planning Services Ltd. raised its position in Apple by 0.3% in the fourth quarter. Asset Planning Services Ltd. now owns 7,859 shares of the iPhone maker’s stock worth $910,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.
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.
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.