ValuEngine cut shares of Apple (NASDAQ:AAPL) from a buy rating to a hold rating in a research note released on Wednesday.

Other research analysts have also recently issued research reports about the stock. Tigress Financial reiterated a buy rating on shares of Apple in a research report on Thursday, August 30th. Robert W. Baird set a $230.00 price objective on shares of Apple and gave the company a buy rating in a research report on Tuesday, September 4th. New Street Research reiterated a sell rating on shares of Apple in a research report on Tuesday, September 18th. Needham & Company LLC boosted their price objective on shares of Apple from $220.00 to $260.00 and gave the company a buy rating in a research report on Thursday, September 13th. Finally, Citigroup cut their price objective on shares of Apple from $265.00 to $240.00 and set a buy rating on the stock in a research report on Friday, November 2nd. Three analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and twenty-five have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $223.07.

Shares of AAPL opened at $176.78 on Wednesday. Apple has a fifty-two week low of $150.24 and a fifty-two week high of $233.47. The firm has a market capitalization of $869.88 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.26. The company has a current ratio of 1.12, a quick ratio of 1.09 and a debt-to-equity ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.13. Apple had a net margin of 22.41% and a return on equity of 48.68%. The company had revenue of $62.90 billion for the quarter, compared to analysts’ expectations of $61.55 billion. During the same quarter in the previous year, the business posted $2.07 earnings per share. Apple’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, analysts anticipate that Apple will post 13.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 12th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Thursday, November 8th. Apple’s dividend payout ratio (DPR) is presently 24.52%.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at $24,554,471.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 470,005 shares of company stock valued at $104,764,873. 0.08% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in AAPL. Gibraltar Capital Management Inc. increased its holdings in Apple by 0.4% in the 3rd quarter. Gibraltar Capital Management Inc. now owns 59,517 shares of the iPhone maker’s stock worth $13,435,000 after buying an additional 235 shares during the period. West Chester Capital Advisors Inc. increased its holdings in Apple by 1.5% in the 3rd quarter. West Chester Capital Advisors Inc. now owns 15,824 shares of the iPhone maker’s stock worth $3,572,000 after buying an additional 236 shares during the period. PICTET BANK & TRUST Ltd increased its holdings in Apple by 0.5% in the 2nd quarter. PICTET BANK & TRUST Ltd now owns 45,134 shares of the iPhone maker’s stock worth $8,355,000 after buying an additional 240 shares during the period. Ironwood Financial llc increased its holdings in Apple by 9.5% in the 3rd quarter. Ironwood Financial llc now owns 2,775 shares of the iPhone maker’s stock worth $626,000 after buying an additional 241 shares during the period. Finally, Capital Investment Services of America Inc. increased its holdings in Apple by 10.0% in the 3rd quarter. Capital Investment Services of America Inc. now owns 2,703 shares of the iPhone maker’s stock worth $610,000 after buying an additional 245 shares during the period. 57.65% of the stock is owned by institutional investors and hedge funds.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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