Apple (NASDAQ:AAPL) Stock Rating Lowered by StockNews.com

Apple (NASDAQ:AAPL) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

AAPL has been the subject of a number of other research reports. Melius Research reaffirmed a “buy” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Rosenblatt Securities restated a “buy” rating and set a $261.00 price objective on shares of Apple in a research note on Tuesday. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $225.00 price objective (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. TD Cowen raised their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Moffett Nathanson started coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $238.62.

Apple Trading Down 0.1 %

NASDAQ AAPL opened at $222.50 on Thursday. Apple has a 12-month low of $164.07 and a 12-month high of $237.23. The company has a fifty day simple moving average of $223.14 and a two-hundred day simple moving average of $198.52. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.38 trillion, a P/E ratio of 34.60, a P/E/G ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the firm earned $1.26 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, analysts forecast that Apple will post 6.7 earnings per share for the current year.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,884 shares of company stock worth $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. American Trust boosted its holdings in Apple by 11.5% in the 2nd quarter. American Trust now owns 72,174 shares of the iPhone maker’s stock valued at $15,201,000 after purchasing an additional 7,428 shares during the last quarter. Summit Wealth Partners LLC raised its position in shares of Apple by 4.8% during the 2nd quarter. Summit Wealth Partners LLC now owns 19,903 shares of the iPhone maker’s stock valued at $4,192,000 after buying an additional 920 shares during the period. SS&H Financial Advisors Inc. lifted its holdings in Apple by 1.3% in the second quarter. SS&H Financial Advisors Inc. now owns 79,910 shares of the iPhone maker’s stock valued at $16,830,000 after acquiring an additional 997 shares during the last quarter. Cannon Financial Strategists Inc. purchased a new position in Apple in the second quarter worth approximately $563,000. Finally, Brightwater Advisory LLC acquired a new stake in Apple during the second quarter worth $2,360,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.