Apple (AAPL) Rating Lowered to Hold at Vetr

Vetr cut shares of Apple (NASDAQ:AAPL) from a buy rating to a hold rating in a research note issued to investors on Tuesday, March 6th. Vetr currently has $183.68 price objective on the iPhone maker’s stock.

Several other equities research analysts have also recently commented on AAPL. BMO Capital Markets cut Apple from an outperform rating to a market perform rating and increased their price target for the company from $162.00 to $166.00 in a report on Wednesday, January 31st. Morningstar set a $170.00 price target on Apple and gave the company a neutral rating in a report on Friday, February 2nd. Zacks Investment Research cut Apple from a buy rating to a hold rating in a research note on Monday, January 8th. Sanford C. Bernstein set a $195.00 target price on Apple and gave the stock a buy rating in a research note on Tuesday, January 30th. Finally, BidaskClub raised Apple from a sell rating to a hold rating in a research note on Saturday, February 17th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company. Apple currently has a consensus rating of Buy and an average target price of $202.62.

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Shares of NASDAQ AAPL traded up $1.30 during midday trading on Tuesday, hitting $167.78. The stock had a trading volume of 38,398,505 shares, compared to its average volume of 33,765,096. The company has a market cap of $851,317.94, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.27 and a beta of 1.19. Apple has a 1 year low of $140.06 and a 1 year high of $183.50. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The business had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. During the same quarter last year, the business posted $3.36 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. equities research analysts anticipate that Apple will post 11.37 EPS for the current fiscal year.

In related news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the sale, the insider now owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.08% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in shares of Apple by 301.3% during the 2nd 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 during the period. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Apple by 50.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 13,228,306 shares of the iPhone maker’s stock worth $2,238,624,000 after purchasing an additional 4,448,509 shares during the period. Truepoint Inc. lifted its stake in shares of Apple by 15,559.4% during the 3rd 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 during the period. Capital Research Global Investors lifted its stake in shares of Apple by 15.0% during the 2nd 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 during the period. Finally, Stifel Financial Corp lifted its stake in shares of Apple by 9,166.4% during the 3rd 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 during the period. 61.35% of the stock is currently owned by hedge funds and other institutional investors.

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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 Vetr’s full report, visit Vetr’s official website.

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