BidaskClub Upgrades Apple (AAPL) to Hold

BidaskClub upgraded shares of Apple (NASDAQ:AAPL) from a sell rating to a hold rating in a research note published on Saturday morning.

AAPL has been the subject of a number of other research reports. Vetr lowered shares of Apple from a strong-buy rating to a buy rating and set a $187.18 target price for the company. in a research note on Wednesday, February 14th. Citigroup reissued a buy rating and set a $200.00 target price (up previously from $170.00) on shares of Apple in a research note on Friday, November 3rd. They noted that the move was a valuation call. UBS Group set a $190.00 target price on shares of Apple and gave the company a buy rating in a research note on Monday, December 4th. Zacks Investment Research raised shares of Apple from a hold rating to a buy rating and set a $197.00 target price for the company in a research note on Thursday, January 18th. Finally, Piper Jaffray Companies reissued a buy rating and set a $200.00 target price on shares of Apple in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $201.64.

Apple (AAPL) opened at $172.43 on Friday. Apple has a 52-week low of $135.10 and a 52-week high of $180.10. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a market cap of $874,910.00, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.30 and a beta of 1.33.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.07. The company had revenue of $88.29 billion during the quarter, compared to analyst estimates of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $3.36 EPS. equities analysts anticipate that Apple will post 11.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $2.52 annualized dividend and a dividend yield of 1.46%. Apple’s payout ratio is 24.66%.

In other news, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $169.69, for a total transaction of $2,654,121.29. Following the transaction, the insider now owns 17,341 shares in the company, valued at approximately $2,942,594.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Johny Srouji sold 5,760 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the transaction, the senior vice president now owns 81,560 shares in the company, valued at approximately $14,224,064. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,771 shares of company stock worth $19,419,429. Insiders own 0.06% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Aviance Capital Partners LLC grew its stake in Apple by 6.4% during the second quarter. Aviance Capital Partners LLC now owns 175,312 shares of the iPhone maker’s stock worth $25,248,000 after buying an additional 10,554 shares during the last quarter. Fayerweather Charles grew its stake in Apple by 4.8% during the second quarter. Fayerweather Charles now owns 19,098 shares of the iPhone maker’s stock worth $2,749,000 after buying an additional 880 shares during the last quarter. Mechanics Bank Trust Department grew its stake in Apple by 1.8% during the second quarter. Mechanics Bank Trust Department now owns 50,965 shares of the iPhone maker’s stock worth $7,340,000 after buying an additional 887 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Apple during the second quarter worth about $864,000. Finally, Lederer & Associates Investment Counsel CA grew its stake in Apple by 2.1% during the second quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock worth $5,377,000 after buying an additional 779 shares during the last quarter. 59.70% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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