ValuEngine Lowers Apple (NASDAQ:AAPL) to Hold

Apple (NASDAQ:AAPL) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Monday, April 2nd.

Several other equities research analysts also recently commented on AAPL. UBS set a $190.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Monday, December 4th. Tigress Financial reissued a “strong-buy” rating on shares of Apple in a report on Wednesday, December 6th. KeyCorp reissued a “buy” rating and set a $192.00 target price on shares of Apple in a report on Thursday, December 7th. Stifel Nicolaus reissued a “sell” rating and set a $26.00 target price (up previously from $22.00) on shares of Apple in a report on Wednesday, December 13th. Finally, Citigroup reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Apple in a report on Wednesday, December 13th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Apple presently has an average rating of “Buy” and an average price target of $203.21.

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AAPL stock traded up $2.42 during trading on Monday, hitting $178.24. 26,509,037 shares of the company’s stock traded hands, compared to its average volume of 36,156,457. The firm has a market cap of $886,582.31, a price-to-earnings ratio of 19.35, a PEG ratio of 1.32 and a beta of 1.25. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.74. Apple has a 1 year low of $140.45 and a 1 year high of $183.50.



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

In other news, SVP Daniel J. Riccio sold 17,375 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $169.12, for a total value of $2,938,460.00. Following the completion of the transaction, the senior vice president now owns 66,191 shares in the company, valued at approximately $11,194,221.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Luca Maestri sold 39,122 shares of the company’s stock in a transaction on Friday, April 13th. The shares were sold at an average price of $174.66, for a total transaction of $6,833,048.52. Following the completion of the transaction, the insider now owns 64,475 shares of the company’s stock, valued at approximately $11,261,203.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,988 shares of company stock worth $21,336,201. Insiders own 0.06% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in 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. boosted its stake in 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. boosted its stake in 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 boosted its stake in 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 boosted its stake in 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. Institutional investors and hedge funds own 61.35% of the company’s stock.

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About Apple

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

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