Apple (NASDAQ:AAPL) Earns Neutral Rating from New Street Research

Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating restated by research analysts at New Street Research in a report issued on Wednesday, Benzinga reports. They presently have a $225.00 target price on the iPhone maker’s stock. New Street Research’s target price points to a potential downside of 0.61% from the stock’s current price.

AAPL has been the subject of several other research reports. Barclays lowered their price objective on shares of Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Morgan Stanley restated an “overweight” rating and set a $273.00 price target on shares of Apple in a research note on Tuesday, September 10th. Rosenblatt Securities restated a “buy” rating and set a $261.00 price target on shares of Apple in a research note on Tuesday, September 10th. Melius Research restated a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Finally, Moffett Nathanson initiated coverage on shares of Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $238.76.

Apple Price Performance

Shares of AAPL traded down $1.00 during mid-day trading on Wednesday, reaching $226.37. The company had a trading volume of 8,808,024 shares, compared to its average volume of 61,829,285. The company’s 50 day simple moving average is $222.10 and its 200 day simple moving average is $201.22. Apple has a 1-year low of $164.07 and a 1-year high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.66 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the company earned $1.26 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that Apple will post 6.7 EPS for the current year.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s 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 completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock valued at $23,723,887 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apple

Several institutional investors and hedge funds have recently modified their holdings of AAPL. Norges Bank bought a new position in shares of Apple during the fourth quarter valued at $33,912,466,000. Vanguard Group Inc. increased its holdings in Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after buying an additional 18,067,216 shares in the last quarter. Swedbank AB bought a new stake in Apple in the 1st quarter worth about $3,026,492,000. Global Assets Advisory LLC increased its holdings in Apple by 23,076.4% in the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after buying an additional 9,200,345 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Company Profile

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.