UBS Group Reaffirms Neutral Rating on Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPL – Get Free Report)‘s stock was given a “neutral” rating by UBS Group in a report released on Monday, Benzinga reports. They currently have a $190.00 price target on the iPhone maker’s stock. UBS Group’s price objective would suggest a potential downside of 11.02% from the stock’s current price.

Several other brokerages have also recently issued reports on AAPL. Oppenheimer raised their price target for Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup lowered their price target for Apple from $220.00 to $210.00 and set a “buy” rating for the company in a report on Monday, April 29. Morgan Stanley reiterated an “overweight” rating and set a $216.00 price target for shares of Apple in a research report on Tuesday, June 11. Canaccord Genuity Group raised their price target for Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Saturday, May 4. Finally, Erste Group Bank raised their rating on Apple from a “hold” to a “buy” rating in a research report on Friday, June 14. One equity research analyst has rated the stock a “sell,” eleven have given a “hold” rating, twenty-four have given a “buy” rating, and one has given a “strong buy” rating. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

See our latest analysis on Apple

Apple shares up 1.4%

NASDAQ AAPL shares were up $2.90 in midday Monday, reaching $213.52. The company’s shares traded volume was 5,723,840 shares, compared to its average volume of 64,758,789. The stock has a 50-day simple moving average of $192.13 and a 200-day simple moving average of $185.31. The company has a current ratio of 1.04, a current ratio of 0.99 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $3.27 trillion, a price-to-earnings ratio of 33.10, a PEG ratio of 2.56 and a beta of 1.24. Apple’s 52-week low was $164.07, and its high was $220.20.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly financial results on Thursday, May 2. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same period last year, the company earned $1.52 EPS. The company’s revenue fell 4.3% compared to the same quarter last year. Equity research analysts predict that Apple will post earnings per share of $6.59 for the current year.

Apple announced that its board of directors approved a stock repurchase plan on Thursday, May 2, that allows the company to buy back $110.00 billion worth of shares. This repurchase authorization allows the iPhone maker to buy back up to 3.9% of its shares through open market purchases. Stock repurchase plans are often a sign that a company’s board of directors believes its stock is undervalued.

Internal activity at Apple

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred on Tuesday, April 2. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior VP now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in legal documents filed with the Securities & Exchange Commission, which can be accessed at this hyperlink . In other Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the Senior Vice President now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through this link . Additionally, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30. The shares were sold at an average price of $191.58, for a total transaction value of $14,368,500.00. Following the sale, the Director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. Disclosure of this sale can be found here . Insiders have sold 247,087 shares of the company’s stock valued at $44,016,111 over the last three months. Insiders own 0.06% of the company’s stock.

Institutional inflows and outflows

Big investors have recently changed their holdings in stocks. Bright Futures Wealth Management LLC. bought a new stake in Apple in the first quarter worth $6,751,000. Quent Capital LLC increased its holdings in Apple by 3.9% in the first quarter. Quent Capital LLC now owns 128,908 shares of the iPhone maker’s stock worth $22,105,000 after purchasing an additional 4,790 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in Apple by 15.7% in the first quarter. Abich Financial Wealth Management LLC now owns 3,220 shares of the iPhone maker’s stock worth $552,000 after purchasing an additional 437 shares in the last quarter. Cape Investment Advisory Inc. increased its position in Apple by 1.3% in the first quarter. Cape Investment Advisory Inc. now owns 28,679 shares of the iPhone maker’s stock worth $4,918,000 after purchasing an additional 381 shares in the last quarter. Finally, TruNorth Capital Management LLC bought new shares of Apple in the first quarter worth approximately $1,716,000. Institutional investors own 60.41% of the company’s stock.

Apple Company Profile

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Apple Inc. designs, manufactures, and sells smartphones, personal computers, tablet computers, wearable devices, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multifunction tablets; and wearable devices, home devices, and accessories, including AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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