Apple Inc. (NASDAQ:AAPL) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued on Wednesday. They presently have a $102.54 price target on the iPhone maker’s stock. Vetr‘s price target suggests a potential downside of 0.48% from the company’s previous close.
Apple (NASDAQ:AAPL) traded up 6.50% during trading on Wednesday, reaching $102.95. The company had a trading volume of 92,344,820 shares. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The company’s 50-day moving average is $97.04 and its 200 day moving average is $99.28. The firm has a market capitalization of $563.90 billion and a price-to-earnings ratio of 11.46.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The company had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 EPS. Equities analysts anticipate that Apple will post $8.21 EPS for the current year.
In other news, SVP Angela J. Ahrendts sold 35,797 shares of the stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $100.00, for a total value of $3,579,700.00. Following the completion of the transaction, the senior vice president now owns 105,839 shares of the company’s stock, valued at $10,583,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Johny Srouji sold 8,000 shares of the stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $99.75, for a total transaction of $798,000.00. Following the completion of the transaction, the senior vice president now directly owns 116,460 shares of the company’s stock, valued at approximately $11,616,885. The disclosure for this sale can be found here.
Other equities research analysts have also issued research reports about the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $153.00 price objective on shares of Apple in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Apple in a report on Wednesday, July 20th. Sanford C. Bernstein lowered their price objective on Apple from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, July 18th. Robert W. Baird reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Apple in a report on Sunday. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Apple in a report on Sunday, July 10th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $124.76.
Several hedge funds and institutional investors recently bought and sold shares of AAPL. Portland Global Advisors LLC boosted its position in Apple by 6.3% in the fourth quarter. Portland Global Advisors LLC now owns 13,965 shares of the iPhone maker’s stock worth $1,470,000 after buying an additional 830 shares during the period. Stonebridge Capital Management Inc. boosted its position in Apple by 10.8% in the fourth quarter. Stonebridge Capital Management Inc. now owns 54,077 shares of the iPhone maker’s stock worth $5,692,000 after buying an additional 5,259 shares during the period. Hartford Financial Management Inc. boosted its position in Apple by 9.4% in the fourth quarter. Hartford Financial Management Inc. now owns 10,203 shares of the iPhone maker’s stock worth $1,074,000 after buying an additional 880 shares during the period. Smith Chas P & Associates PA Cpas boosted its position in Apple by 1.6% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 244,144 shares of the iPhone maker’s stock worth $25,699,000 after buying an additional 3,762 shares during the period. Finally, Hermes Investment Management Ltd. boosted its position in Apple by 36.5% in the fourth quarter. Hermes Investment Management Ltd. now owns 725,480 shares of the iPhone maker’s stock worth $76,364,000 after buying an additional 193,825 shares during the period.
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.
