Longbow Research Downgrades Apple (AAPL) to Neutral

Longbow Research cut shares of Apple (NASDAQ:AAPL) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat.com reports.

AAPL has been the subject of a number of other reports. ValuEngine raised Apple from a hold rating to a buy rating in a report on Sunday, December 31st. Piper Jaffray Companies reissued a buy rating and set a $200.00 price objective on shares of Apple in a report on Tuesday, January 2nd. BMO Capital Markets reissued a buy rating and set a $199.00 price objective on shares of Apple in a report on Wednesday, December 20th. Rosenblatt Securities set a $180.00 price objective on Apple and gave the company a buy rating in a report on Tuesday, December 26th. Finally, Wells Fargo & Co reissued a market perform rating and set a $195.00 price objective on shares of Apple in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Apple has an average rating of Buy and an average target price of $200.59.

Apple (NASDAQ:AAPL) opened at $178.46 on Wednesday. The company has a market capitalization of $912,180.00, a price-to-earnings ratio of 19.42, a P/E/G ratio of 1.45 and a beta of 1.23. Apple has a 12-month low of $119.50 and a 12-month high of $180.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. Apple’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the business earned $1.50 earnings per share. analysts predict that Apple will post 11.15 EPS for the current year.

In other news, SVP Johny Srouji sold 5,760 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the completion of the transaction, the senior vice president now directly owns 81,560 shares in the company, valued at approximately $14,224,064. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the transaction, the insider now owns 13,739 shares of the company’s stock, valued at $2,401,302.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,412 shares of company stock valued at $22,115,155. Corporate insiders own 0.08% of the company’s stock.

Several institutional investors have recently bought and sold shares of AAPL. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Apple in the 2nd quarter valued at approximately $400,000. Blue Sky Asset Management LLC acquired a new position in shares of Apple in the 2nd quarter valued at approximately $108,000. FNY Managed Accounts LLC grew its position in shares of Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares during the period. Armbruster Capital Management Inc. grew its position in shares of Apple by 9.4% in the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after purchasing an additional 78 shares during the period. Finally, Oak Point Wealth Management acquired a new position in shares of Apple in the 4th quarter valued at approximately $163,000. Institutional investors own 60.19% of the company’s stock.

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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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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