Apple (NASDAQ:AAPL) Stock Rating Lowered by Phillip Securities

Key Points

• Phillip Securities downgraded Apple from “hold” to “moderate sell,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $331.60.
• Analyst views remain mixed: TD Cowen and Wedbush set $400 targets, while KeyCorp maintained an “underweight” rating with a $250 target.
• Apple recently exceeded quarterly expectations, reporting $2.02 in EPS and $109.42 billion in revenue, with revenue up 16.4% year over year.

Apple (NASDAQ:AAPL - Get Free Report) was downgraded by stock analysts at Phillip Securities from a "hold" rating to a "moderate sell" rating in a research report issued on Monday,Zacks.com reports.

Several other brokerages have also recently weighed in on AAPL. TD Cowen raised their price objective on Apple from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday. Royal Bank Of Canada set a $365.00 price target on Apple in a research report on Wednesday, July 15th. KeyCorp reiterated an "underweight" rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, July 28th. Wedbush reissued an "outperform" rating and issued a $400.00 target price on shares of Apple in a research note on Friday, June 5th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $331.60.

Apple Price Performance

Shares of AAPL opened at $303.42 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple has a twelve month low of $201.68 and a twelve month high of $344.57. The stock has a market capitalization of $4.46 trillion, a P/E ratio of 34.80, a P/E/G ratio of 2.65 and a beta of 1.09. The company has a 50 day moving average of $309.40 and a 200-day moving average of $281.90.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The firm's revenue was up 16.4% on a year-over-year basis. As a group, equities research analysts forecast that Apple will post 8.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apple

Several institutional investors and hedge funds have recently made changes to their positions in AAPL. Lifetime Wealth Management P.C. bought a new position in Apple during the fourth quarter worth about $41,000. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after buying an additional 180 shares in the last quarter. LSV Asset Management bought a new stake in shares of Apple in the fourth quarter valued at approximately $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple in the fourth quarter valued at approximately $69,000. Finally, Inspire Investing LLC acquired a new stake in Apple during the fourth quarter worth approximately $76,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.