Apple Inc. (AAPL) Cut to Hold at Vetr Inc.

Vetr cut shares of Apple Inc. (NASDAQ:AAPL) from a buy rating to a hold rating in a report issued on Friday morning. The firm currently has $176.88 price objective on the iPhone maker’s stock.

A number of other research analysts have also weighed in on AAPL. Oppenheimer Holdings, Inc. restated a rating on shares of Apple in a report on Thursday, August 10th. UBS AG reaffirmed a buy rating and set a $170.00 price target on shares of Apple in a research report on Monday, July 31st. Needham & Company LLC reaffirmed a buy rating and set a $165.00 price target on shares of Apple in a research report on Thursday, July 27th. Guggenheim reaffirmed a buy rating and set a $180.00 price target on shares of Apple in a research report on Friday, July 21st. Finally, Loop Capital began coverage on Apple in a research report on Monday, July 24th. They set a buy rating and a $172.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company’s stock. Apple currently has a consensus rating of Buy and an average target price of $200.24.

Apple (NASDAQ AAPL) opened at $169.98 on Friday. The stock has a market capitalization of $872,730.00, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 1.36 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. Apple has a fifty-two week low of $108.25 and a fifty-two week high of $176.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 earnings per share. equities analysts expect that Apple will post 11.18 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were issued a dividend of $0.63 per share. The ex-dividend date was Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.48%. Apple’s dividend payout ratio (DPR) is presently 27.42%.

In related news, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total value of $2,695,726.35. Following the completion of the sale, the insider now directly owns 39,682 shares in the company, valued at $6,839,192.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 410,352 shares of company stock valued at $65,356,512. Insiders own 0.08% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Saratoga Research & Investment Management lifted its position in shares of Apple by 0.6% during the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after purchasing an additional 4,137 shares in the last quarter. Green Square Capital LLC lifted its position in shares of Apple by 6.7% during the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after purchasing an additional 5,491 shares in the last quarter. Headinvest LLC lifted its position in shares of Apple by 2.5% during the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after purchasing an additional 390 shares in the last quarter. YHB Investment Advisors Inc. lifted its position in shares of Apple by 7.6% during the second quarter. YHB Investment Advisors Inc. now owns 136,189 shares of the iPhone maker’s stock worth $19,614,000 after purchasing an additional 9,663 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA lifted its position in shares of Apple by 2.1% during the second quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock worth $5,377,000 after purchasing an additional 779 shares in the last quarter. 59.87% of the stock is currently owned by hedge funds and other institutional investors.

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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