Apple (AAPL) Downgraded to Buy at Vetr

Vetr lowered shares of Apple (NASDAQ:AAPL) from a strong-buy rating to a buy rating in a report released on Wednesday morning. Vetr currently has $187.18 price objective on the iPhone maker’s stock.

Several other equities analysts also recently weighed in on the company. Bank of America reiterated an outperform rating and set a $220.00 target price on shares of Apple in a research report on Thursday, February 8th. ValuEngine downgraded Apple from a buy rating to a hold rating in a research report on Thursday, February 8th. Goldman Sachs Group assumed coverage on Apple in a research report on Wednesday, February 7th. They set a neutral rating and a $161.00 target price on the stock. William Blair reiterated an outperform rating on shares of Apple in a research report on Friday, February 2nd. Finally, KeyCorp reiterated an equal weight rating on shares of Apple in a research report on Sunday, February 4th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $201.64.

Shares of Apple (NASDAQ AAPL) opened at $167.37 on Wednesday. Apple has a 52 week low of $134.62 and a 52 week high of $180.10. The company has a market capitalization of $849,240.00, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The firm had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. During the same period in the prior year, the business posted $3.36 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. research analysts expect that Apple will post 11.4 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 12th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, February 9th. Apple’s dividend payout ratio (DPR) is 24.66%.

In related news, insider Eduardo H. Cue sold 65,361 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $169.69, for a total value of $2,654,121.29. Following the completion of the sale, the insider now directly owns 17,341 shares in the company, valued at approximately $2,942,594.29. The disclosure for this sale can be found here. In the last three months, insiders sold 112,771 shares of company stock worth $19,419,429. Company insiders own 0.08% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AAPL. Janus Henderson Group PLC raised 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 valued at $2,880,992,000 after acquiring an additional 15,018,790 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in Apple by 14,030.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after acquiring an additional 4,483,360 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised 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 valued at $2,238,624,000 after acquiring an additional 4,448,509 shares in the last quarter. Truepoint Inc. raised 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 valued at $4,437,000 after acquiring an additional 4,408,441 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Apple by 15.0% in 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 buying an additional 3,845,363 shares in the last quarter. 60.18% of the stock is currently owned by institutional investors and hedge funds.

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Apple Company Profile

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

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