Apple (NASDAQ:AAPL) Downgraded to Underperform Rating by Jefferies Financial Group

Jefferies Financial Group downgraded shares of Apple (NASDAQ:AAPL) from a hold rating to an underperform rating in a research note released on Tuesday morning, Marketbeat reports. Jefferies Financial Group currently has $200.75 price objective on the iPhone maker’s stock, down from their prior price objective of $211.84.

Other research analysts have also issued reports about the stock. Bank of America reissued a “buy” rating and set a $256.00 price objective on shares of Apple in a report on Friday, January 3rd. UBS Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Apple in a report on Monday, December 2nd. Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Friday, December 13th. Maxim Group boosted their target price on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Moffett Nathanson restated a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $238.02.

Apple Stock Performance

NASDAQ:AAPL opened at $222.64 on Tuesday. The firm has a 50-day moving average of $241.12 and a two-hundred day moving average of $230.85. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $3.35 trillion, a P/E ratio of 36.62, a PEG ratio of 2.25 and a beta of 1.20. Apple has a 1-year low of $164.07 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the firm earned $1.46 EPS. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that Apple will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently bought and sold shares of the business. O Connor Financial Group LLC increased its stake in Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after buying an additional 41 shares during the period. 1620 Investment Advisors Inc. boosted its position in Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after purchasing an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC grew its stake in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares in the last quarter. Verus Financial Partners Inc. increased its position in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the last quarter. Finally, Menard Financial Group LLC raised its stake in shares of Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after purchasing an additional 48 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.