Macquarie cut shares of Apple (NASDAQ:AAPL) from an outperform rating to a neutral rating in a research note published on Thursday, January 3rd, MarketBeat reports. The firm currently has $145.69 price target on the iPhone maker’s stock.
Several other research firms also recently commented on AAPL. New Street Research reissued a sell rating on shares of Apple in a research report on Tuesday, September 18th. Needham & Company LLC upped their price target on shares of Apple from $220.00 to $260.00 and gave the company a buy rating in a report on Thursday, September 13th. Citigroup decreased their price target on shares of Apple from $265.00 to $240.00 and set a buy rating for the company in a report on Friday, November 2nd. Bank of America restated a buy rating on shares of Apple in a report on Tuesday, October 9th. Finally, Goldman Sachs Group restated a neutral rating and set a $182.00 price target (down from $209.00) on shares of Apple in a report on Tuesday, November 20th. Three research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $195.19.
AAPL opened at $152.29 on Thursday. The firm has a market capitalization of $753.54 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.45 and a beta of 1.23. Apple has a 12-month low of $142.00 and a 12-month high of $233.47. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 0.87.
Apple (NASDAQ:AAPL) last released its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.13. Apple had a return on equity of 48.68% and a net margin of 22.41%. The company had revenue of $62.90 billion during the quarter, compared to analyst estimates of $61.55 billion. During the same quarter in the prior year, the company earned $2.07 earnings per share. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. Sell-side analysts anticipate that Apple will post 12.1 EPS for the current fiscal year.
In related news, insider Chris Kondo sold 3,408 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $190.00, for a total value of $647,520.00. Following the completion of the sale, the insider now owns 8,940 shares of the company’s stock, valued at $1,698,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Beacon Wealthcare Inc boosted its position in shares of Apple by 5.0% during the fourth quarter. Beacon Wealthcare Inc now owns 1,502 shares of the iPhone maker’s stock worth $237,000 after purchasing an additional 71 shares in the last quarter. Beaton Management Co. Inc. boosted its position in shares of Apple by 1.8% during the third quarter. Beaton Management Co. Inc. now owns 6,842 shares of the iPhone maker’s stock worth $1,545,000 after purchasing an additional 120 shares in the last quarter. Parkside Advisors LLC boosted its position in shares of Apple by 3.6% during the fourth quarter. Parkside Advisors LLC now owns 4,018 shares of the iPhone maker’s stock worth $634,000 after purchasing an additional 139 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Apple by 2.4% during the fourth quarter. Sound Income Strategies LLC now owns 6,729 shares of the iPhone maker’s stock worth $1,061,000 after purchasing an additional 158 shares in the last quarter. Finally, Legacy Capital Partners Inc. boosted its position in shares of Apple by 0.3% during the fourth quarter. Legacy Capital Partners Inc. now owns 63,063 shares of the iPhone maker’s stock worth $9,948,000 after purchasing an additional 193 shares in the last quarter. 57.06% of the stock is owned by institutional investors and hedge funds.
Apple Company Profile
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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