Apple (NASDAQ:AAPL) Receives “Hold” Rating from Longbow Research

Longbow Research reissued their hold rating on shares of Apple (NASDAQ:AAPL) in a research report report published on Tuesday, TipRanks reports.

Several other brokerages also recently weighed in on AAPL. Deutsche Bank set a $210.00 target price on Apple and gave the company a hold rating in a research note on Wednesday, September 4th. Citigroup increased their price target on Apple from $205.00 to $250.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. Raymond James raised Apple from a market perform rating to an outperform rating and set a $250.00 price target on the stock in a report on Thursday, July 18th. UBS Group set a $235.00 price objective on shares of Apple and gave the company a buy rating in a research note on Friday, August 16th. Finally, Bank of America reaffirmed a buy rating and issued a $250.00 price objective (up previously from $240.00) on shares of Apple in a report on Wednesday. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $219.62.

NASDAQ AAPL traded up $6.89 on Tuesday, hitting $223.59. The stock had a trading volume of 41,217,957 shares, compared to its average volume of 28,887,482. Apple has a one year low of $142.00 and a one year high of $233.47. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. The stock has a market cap of $967.87 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 1.77 and a beta of 1.24. The company’s 50-day moving average is $207.16 and its two-hundred day moving average is $196.48.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.08. The company had revenue of $53.81 billion for the quarter, compared to analysts’ expectations of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 earnings per share. On average, sell-side analysts anticipate that Apple will post 11.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.08 annualized dividend and a dividend yield of 1.38%. Apple’s dividend payout ratio is currently 25.86%.

In related news, insider Chris Kondo sold 4,376 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total value of $951,648.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.17, for a total value of $54,668,037.20. The disclosure for this sale can be found here. Insiders have sold a total of 304,536 shares of company stock valued at $62,894,611 in the last quarter. Insiders own 0.05% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Roanoke Asset Management Corp NY boosted its stake in shares of Apple by 1.1% during the 2nd quarter. Roanoke Asset Management Corp NY now owns 4,412 shares of the iPhone maker’s stock valued at $873,000 after buying an additional 50 shares during the period. Guardian Life Insurance Co. of America increased its stake in shares of Apple by 0.4% in the second quarter. Guardian Life Insurance Co. of America now owns 12,970 shares of the iPhone maker’s stock worth $2,567,000 after acquiring an additional 51 shares during the last quarter. Monument Capital Management increased its stake in shares of Apple by 2.2% in the second quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock worth $491,000 after acquiring an additional 53 shares during the last quarter. Landmark Financial Advisors LLC increased its stake in shares of Apple by 0.7% in the second quarter. Landmark Financial Advisors LLC now owns 7,357 shares of the iPhone maker’s stock worth $1,456,000 after acquiring an additional 53 shares during the last quarter. Finally, MA Private Wealth raised its holdings in shares of Apple by 0.3% during the second quarter. MA Private Wealth now owns 16,134 shares of the iPhone maker’s stock worth $3,193,000 after acquiring an additional 56 shares in the last quarter. 58.77% 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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