Apple’s (AAPL) Sell Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their sell rating on shares of Apple (NASDAQ:AAPL) in a research note released on Monday morning, AnalystRatings.com reports. The firm currently has a $150.00 price objective on the iPhone maker’s stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC upped their price target on Apple to $280.00 and gave the stock an average rating in a research note on Thursday, October 31st. Citigroup upped their price target on Apple from $250.00 to $300.00 and gave the stock a buy rating in a research note on Thursday, December 5th. Longbow Research upgraded Apple from a neutral rating to a buy rating and set a $260.00 price target for the company in a research note on Thursday, October 10th. Deutsche Bank upped their price target on Apple from $210.00 to $230.00 and gave the stock a hold rating in a research note on Tuesday, October 22nd. They noted that the move was a valuation call. Finally, Cascend Securities upped their price target on Apple from $280.00 to $290.00 and gave the stock a buy rating in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Apple currently has an average rating of Hold and an average target price of $251.61.

Apple stock opened at $271.46 on Monday. Apple has a 12 month low of $142.00 and a 12 month high of $268.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50. The business has a 50 day simple moving average of $260.41 and a 200-day simple moving average of $220.65. The stock has a market capitalization of $1,206.17 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.19. Apple had a return on equity of 53.82% and a net margin of 21.24%. The business had revenue of $64.04 billion during the quarter, compared to analysts’ expectations of $62.86 billion. During the same quarter in the prior year, the business earned $2.91 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple will post 13.18 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 1.13%. The ex-dividend date was Thursday, November 7th. Apple’s dividend payout ratio (DPR) is 25.90%.

In other Apple news, Director Arthur D. Levinson sold 37,394 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total value of $9,639,799.26. Following the sale, the director now owns 1,170,677 shares of the company’s stock, valued at $301,788,823.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 61,659 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $228.38, for a total value of $14,081,682.42. Following the completion of the sale, the chief financial officer now directly owns 85,507 shares in the company, valued at approximately $19,528,088.66. The disclosure for this sale can be found here. Insiders sold 182,998 shares of company stock worth $42,351,593 in the last three months. 0.05% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of AAPL. Trinity Legacy Partners LLC boosted its stake in shares of Apple by 66.8% during the second quarter. Trinity Legacy Partners LLC now owns 18,789 shares of the iPhone maker’s stock valued at $3,776,000 after acquiring an additional 7,523 shares during the last quarter. Pictet North America Advisors SA boosted its stake in shares of Apple by 3.3% during the second quarter. Pictet North America Advisors SA now owns 131,021 shares of the iPhone maker’s stock valued at $25,932,000 after acquiring an additional 4,170 shares during the last quarter. Capital Bank & Trust Co boosted its stake in shares of Apple by 0.4% during the second quarter. Capital Bank & Trust Co now owns 621,074 shares of the iPhone maker’s stock valued at $122,994,000 after acquiring an additional 2,330 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Apple by 5.4% during the third quarter. Signaturefd LLC now owns 72,303 shares of the iPhone maker’s stock valued at $16,194,000 after acquiring an additional 3,705 shares during the last quarter. Finally, Fiera Capital Corp boosted its stake in shares of Apple by 2.0% during the second quarter. Fiera Capital Corp now owns 478,731 shares of the iPhone maker’s stock valued at $94,749,000 after acquiring an additional 9,473 shares during the last quarter. 59.19% of the stock is currently 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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