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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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%.

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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.

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