Apple (NASDAQ:AAPL) Downgraded by Phillip Securities to "Moderate Sell"

Key Points

• Phillip Securities has reissued a "reduce" rating for Apple (NASDAQ:AAPL), setting a price target of $200, indicating a potential downside of 11.81% from its current price.
• Several other analysts have given Apple varying ratings, with a consensus rating of "Moderate Buy" and an average target price of $240.80, reflecting mixed market sentiments.
• In the last quarter, Apple reported earnings of $1.57 per share, surpassing analysts' expectations, with a revenue of $94.04 billion, reflecting a year-over-year increase of 9.6%.

Phillip Securities cut shares of Apple (NASDAQ:AAPL - Free Report) from a hold rating to a moderate sell rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. They currently have $200.00 target price on the iPhone maker's stock.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley set a $240.00 target price on Apple and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Moffett Nathanson raised Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price for the company in a report on Thursday, September 4th. BMO Capital Markets reissued a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Jefferies Financial Group increased their target price on Apple from $190.67 to $205.82 and gave the stock a "hold" rating in a report on Monday. Finally, Melius Research set a $290.00 target price on Apple and gave the stock a "buy" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $240.80.

Apple Stock Up 1.8%

Shares of AAPL traded up $4.04 during trading hours on Thursday, hitting $234.07. 55,768,555 shares of the company were exchanged, compared to its average volume of 45,223,864. The company has a market cap of $3.47 trillion, a PE ratio of 35.52, a PEG ratio of 2.39 and a beta of 1.11. The firm's 50 day moving average is $221.50 and its 200-day moving average is $212.39. Apple has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts forecast that Apple will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's payout ratio is currently 15.78%.

Insider Activity

In related news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently made changes to their positions in the company. First National Bank of Hutchinson increased its holdings in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC increased its holdings in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE increased its holdings in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after buying an additional 1,155 shares in the last quarter. Institutional investors own 67.73% 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.