Apple (AAPL) Downgraded by New Street Research

New Street Research cut shares of Apple (NASDAQ:AAPL) from a neutral rating to a sell rating in a report released on Friday, 24/7 WallStreet reports. They currently have $170.00 price target on the iPhone maker’s stock.

AAPL has been the topic of a number of other research reports. JPMorgan Chase & Co. restated a buy rating and set a $228.00 price objective on shares of Apple in a research note on Friday, January 11th. Royal Bank of Canada restated a buy rating and set a $185.00 price objective on shares of Apple in a research note on Friday, January 18th. ValuEngine cut Apple from a buy rating to a hold rating in a research note on Friday, March 1st. Credit Suisse Group reiterated a hold rating and issued a $182.00 price target on shares of Apple in a research note on Sunday, March 31st. Finally, Loop Capital cut Apple from a buy rating to a hold rating and set a $145.69 price target on the stock. in a research note on Thursday, January 3rd. Three investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Apple has a consensus rating of Hold and an average target price of $202.45.

Shares of AAPL opened at $199.23 on Friday. The stock has a market cap of $977.47 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 2.03 and a beta of 1.14. Apple has a 12 month low of $142.00 and a 12 month high of $233.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.25 and a current ratio of 1.30.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, January 29th. The iPhone maker reported $4.18 EPS for the quarter, topping the Zacks’ consensus estimate of $4.17 by $0.01. The company had revenue of $84.31 billion for the quarter, compared to analysts’ expectations of $84.07 billion. Apple had a return on equity of 50.92% and a net margin of 22.72%. As a group, equities research analysts predict that Apple will post 11.41 earnings per share for the current fiscal year.

In related news, Director Arthur D. Levinson sold 1,521 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $167.71, for a total value of $255,086.91. Following the completion of the sale, the director now directly owns 1,134,804 shares of the company’s stock, valued at $190,317,978.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Luca Maestri sold 51,138 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $196.61, for a total value of $10,054,242.18. Following the completion of the sale, the insider now directly owns 27,448 shares of the company’s stock, valued at $5,396,551.28. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. RPG Investment Advisory LLC grew its holdings in Apple by 1.3% in the 1st quarter. RPG Investment Advisory LLC now owns 48,233 shares of the iPhone maker’s stock worth $9,162,000 after buying an additional 640 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in Apple by 2.5% in the 1st quarter. Flagship Harbor Advisors LLC now owns 65,560 shares of the iPhone maker’s stock worth $12,453,000 after buying an additional 1,600 shares in the last quarter. Welch Group LLC grew its holdings in Apple by 2.3% in the 1st quarter. Welch Group LLC now owns 24,577 shares of the iPhone maker’s stock worth $4,668,000 after buying an additional 558 shares in the last quarter. Hodges Capital Management Inc. grew its holdings in Apple by 7.6% in the 1st quarter. Hodges Capital Management Inc. now owns 24,217 shares of the iPhone maker’s stock worth $4,600,000 after buying an additional 1,718 shares in the last quarter. Finally, Horan Capital Management grew its holdings in Apple by 9.4% in the 1st quarter. Horan Capital Management now owns 153,368 shares of the iPhone maker’s stock worth $29,132,000 after buying an additional 13,200 shares in the last quarter. 57.38% of the stock is owned by institutional investors.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Analyst Recommendations for Apple (NASDAQ:AAPL)

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