Mizuho lowered shares of Apple Inc. (NASDAQ:AAPL) from a buy rating to a neutral rating in a report released on Monday morning, MarketBeat reports. They currently have $150.00 target price on the iPhone maker’s stock, down from their prior target price of $160.00.
“The Mad Dash” segment on Monday.”This is a statement downgrade, which means you have never heard of me, but today you have,” Cramer said. “And you know what I say? It was down on Friday — give me a break.”Cramer further took issue with a Sunday downgrade, which is adding panic to the Street. The CNBC host also questioned the analyst’s thesis, which is based on a “strong” iPhone 8 cycle and an uncommon bearish view on services.”A Sunday downgrade, everyone is talking about it,” Cramer joked. “I think Crosby was talking about it. When he had the Stanley Cup he said, ‘Did you hear they downgraded Apple at Mizuho?’,” the firm’s analyst wrote.
Other equities analysts also recently issued research reports about the stock. Raymond James Financial, Inc. reaffirmed an outperform rating and set a $159.00 target price (up previously from $152.00) on shares of Apple in a research note on Monday, April 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and set a $150.00 target price on shares of Apple in a research note on Wednesday, April 12th. Rosenblatt Securities reaffirmed a neutral rating and set a $120.00 target price on shares of Apple in a research note on Monday, April 17th. FBN Securities raised their target price on shares of Apple from $155.00 to $160.00 and gave the company an outperform rating in a research note on Thursday, May 4th. Finally, Deutsche Bank AG reaffirmed a hold rating and set a $130.00 target price on shares of Apple in a research note on Tuesday, June 6th. Nine investment analysts have rated the stock with a hold rating, forty have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $160.38.
Shares of Apple (NASDAQ AAPL) traded up 0.65% during mid-day trading on Monday, reaching $146.37. The company’s stock had a trading volume of 5,653,523 shares. The company has a market cap of $763.15 billion, a P/E ratio of 17.17 and a beta of 1.28. The company has a 50-day moving average of $151.15 and a 200-day moving average of $134.55. Apple has a 12 month low of $91.50 and a 12 month high of $156.65.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. Apple had a net margin of 20.74% and a return on equity of 35.09%. The business had revenue of $52.90 billion during the quarter, compared to the consensus estimate of $52.61 billion. Equities research analysts forecast that Apple will post $8.94 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 15th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, May 11th. This is a boost from Apple’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.73%. Apple’s dividend payout ratio (DPR) is currently 29.47%.
In other Apple news, insider Angela J. Ahrendts sold 75,000 shares of Apple stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $147.98, for a total transaction of $11,098,500.00. Following the completion of the sale, the insider now directly owns 154,116 shares in the company, valued at $22,806,085.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP D Bruce Sewell sold 67,500 shares of Apple stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $148.76, for a total transaction of $10,041,300.00. Following the sale, the senior vice president now owns 141,325 shares of the company’s stock, valued at $21,023,507. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 447,411 shares of company stock valued at $67,200,745. Company insiders own 0.08% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Apple during the fourth quarter worth $5,625,709,000. Asset Management One Co. Ltd. boosted its position in shares of Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock worth $1,096,072,000 after buying an additional 8,571,027 shares during the period. Vanguard Group Inc. boosted its position in shares of Apple by 1.8% in the first quarter. Vanguard Group Inc. now owns 343,783,273 shares of the iPhone maker’s stock worth $49,387,905,000 after buying an additional 6,237,609 shares during the period. FMR LLC boosted its position in shares of Apple by 3.7% in the first quarter. FMR LLC now owns 163,812,996 shares of the iPhone maker’s stock worth $23,533,376,000 after buying an additional 5,830,423 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Apple by 14.1% in the first quarter. Wellington Management Group LLP now owns 40,313,026 shares of the iPhone maker’s stock worth $5,791,369,000 after buying an additional 4,991,639 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.
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.
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