Apple (NASDAQ:AAPL) Earns Neutral Rating from UBS Group

Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating reissued by UBS Group in a research report issued on Monday, Benzinga reports. They currently have a $190.00 target price on the iPhone maker’s stock. UBS Group’s target price would indicate a potential downside of 13.74% from the company’s current price.

A number of other research firms have also recently issued reports on AAPL. Canaccord Genuity Group increased their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Bank of America reiterated a “buy” rating and set a $230.00 target price on shares of Apple in a report on Wednesday, June 26th. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Monness Crespi & Hardt reiterated a “buy” rating and set a $205.00 target price on shares of Apple in a report on Thursday, June 6th. Finally, DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Apple Stock Performance

Shares of Apple stock opened at $220.27 on Monday. The company has a market capitalization of $3.38 trillion, a PE ratio of 34.16, a PEG ratio of 2.56 and a beta of 1.24. Apple has a 12 month low of $164.07 and a 12 month high of $220.38. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $193.14 and its 200 day simple moving average is $185.44.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 EPS. On average, research analysts predict that Apple will post 6.59 EPS for the current year.

Apple declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,355 shares of company stock valued at $34,771,329. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apple

Hedge funds have recently modified their holdings of the business. Wyrmwood Management LLC boosted its position in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares during the last quarter. Christopher J. Hasenberg Inc bought a new stake in Apple during the first quarter valued at $35,000. Fidelis Capital Partners LLC boosted its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple during the fourth quarter valued at $39,000. Finally, Gilfoyle & Co LLC boosted its position in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.