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

Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating restated by UBS Group in a research report issued on Wednesday, Borsen Zeitung reports. They presently have a $115.00 price objective on the iPhone maker’s stock. UBS Group’s price objective suggests a potential upside of 5.80% from the stock’s current price.

A number of other research firms have also recently issued reports on AAPL. Loop Capital raised their price target on shares of Apple from $82.50 to $94.00 and gave the stock a “hold” rating in a report on Friday, July 31st. Citigroup boosted their price target on Apple from $112.50 to $125.00 and gave the company a “buy” rating in a research note on Monday. Credit Suisse Group reissued a “neutral” rating and issued a $95.00 price objective on shares of Apple in a report on Wednesday, September 16th. BofA Securities lifted their target price on Apple from $102.50 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, HSBC upgraded shares of Apple from a “reduce” rating to a “hold” rating and cut their price target for the stock from $96.25 to $73.75 in a report on Wednesday, June 10th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Apple presently has a consensus rating of “Buy” and a consensus target price of $105.80.

NASDAQ:AAPL traded down $3.11 during mid-day trading on Wednesday, hitting $108.70. 3,765,805 shares of the company’s stock traded hands, compared to its average volume of 173,147,500. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.43 and a current ratio of 1.47. The company has a market capitalization of $1,938.49 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.09 and a beta of 1.28. The company has a fifty day moving average of $116.92 and a 200 day moving average of $88.56. Apple has a twelve month low of $53.15 and a twelve month high of $137.98.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.13. The firm had revenue of $59.69 billion for the quarter, compared to the consensus estimate of $51.94 billion. Apple had a net margin of 21.33% and a return on equity of 70.66%. On average, research analysts expect that Apple will post 3.24 earnings per share for the current fiscal year.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $496.91, for a total transaction of $131,760,655.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.05% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. acquired a new stake in Apple during the 1st quarter worth $536,884,000. FMR LLC raised its stake in Apple by 2.6% during the second quarter. FMR LLC now owns 95,825,047 shares of the iPhone maker’s stock worth $34,956,977,000 after purchasing an additional 2,448,814 shares during the period. Geode Capital Management LLC boosted its holdings in Apple by 2.7% in the 1st quarter. Geode Capital Management LLC now owns 64,178,586 shares of the iPhone maker’s stock valued at $16,290,282,000 after purchasing an additional 1,696,496 shares during the last quarter. Laidlaw Wealth Management LLC boosted its holdings in Apple by 113,515.1% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 40,356,072 shares of the iPhone maker’s stock valued at $111,000 after purchasing an additional 40,320,552 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Apple by 18.2% in the 1st quarter. Wellington Management Group LLP now owns 26,941,525 shares of the iPhone maker’s stock valued at $6,850,960,000 after buying an additional 4,148,565 shares during the period. 59.65% of the stock is currently owned by institutional investors.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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