Todays Report: The Apple Inc. (AAPL) Lowered by Stifel Nicolaus

The Apple Inc. (AAPL) Lowered by Stifel Nicolaus

Stifel Nicolaus lowered shares of Apple Inc. (NASDAQ:AAPL) from a buy rating to a hold rating in a research report report published on Wednesday morning. They currently have $115.00 price objective on the iPhone maker’s stock, down from their previous price objective of $130.00.

Other equities research analysts have also issued research reports about the company. Raymond James Financial Inc. reiterated a hold rating on shares of Apple in a research note on Saturday, July 9th. Barclays PLC reiterated a buy rating on shares of Apple in a research note on Sunday, July 17th. Credit Suisse Group AG reiterated a buy rating and issued a $150.00 target price on shares of Apple in a research note on Sunday, July 17th. Brean Capital reiterated a buy rating and issued a $125.00 target price on shares of Apple in a research note on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. restated a market perform rating on shares of Apple in a research note on Thursday, August 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, forty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. Apple has a consensus rating of Buy and an average target price of $128.07.

Apple (NASDAQ:AAPL) opened at 113.72 on Wednesday. The stock has a 50 day moving average price of $114.12 and a 200-day moving average price of $104.15. The firm has a market cap of $606.39 billion, a price-to-earnings ratio of 13.68 and a beta of 1.22. Apple has a 12-month low of $89.47 and a 12-month high of $123.82.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.01. Apple had a return on equity of 35.59% and a net margin of 21.19%. The business earned $46.85 billion during the quarter, compared to analyst estimates of $46.88 billion. During the same quarter last year, the firm earned $1.96 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. Equities analysts forecast that Apple will post $9.00 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Monday, November 7th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, November 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.00%. Apple’s dividend payout ratio is presently 27.57%.

In related news, CEO Timothy D. Cook sold 110,000 shares of Apple stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $105.95, for a total value of $11,654,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP D Bruce Sewell sold 23,305 shares of Apple stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $107.49, for a total transaction of $2,505,054.45. Following the completion of the transaction, the senior vice president now directly owns 239,329 shares in the company, valued at $25,725,474.21. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AAPL. Penserra Capital Management LLC boosted its position in shares of Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares during the period. Armbruster Capital Management Inc. boosted its position in shares of Apple by 35.1% in the third quarter. Armbruster Capital Management Inc. now owns 1,024 shares of the iPhone maker’s stock worth $116,000 after buying an additional 266 shares during the period. Weaver C. Barksdale & Associates Inc. purchased a new position in shares of Apple during the third quarter worth about $122,000. D. Scott Neal Inc. boosted its position in shares of Apple by 701.3% in the third quarter. D. Scott Neal Inc. now owns 1,202 shares of the iPhone maker’s stock worth $136,000 after buying an additional 1,052 shares during the period. Finally, Delphi Private Advisors LLC boosted its position in shares of Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares during the period. 56.35% of the stock is currently owned by institutional investors and hedge funds.

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