Apple (AAPL) Cut to “Hold” at HSBC

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HSBC cut shares of Apple (NASDAQ:AAPL) from a buy rating to a hold rating in a research report sent to investors on Monday, MarketBeat.com reports. HSBC currently has $200.00 price target on the iPhone maker’s stock, down from their previous price target of $205.00.

A number of other research firms also recently issued reports on AAPL. Wells Fargo & Co set a $210.00 price objective on Apple and gave the stock a neutral rating in a research note on Monday, October 1st. Oppenheimer reaffirmed a neutral rating on shares of Apple in a research note on Monday, October 1st. Morgan Stanley reaffirmed a buy rating and issued a $245.00 price objective (up previously from $232.00) on shares of Apple in a research note on Wednesday, September 5th. DA Davidson reaffirmed a buy rating and issued a $265.00 price objective (up previously from $230.00) on shares of Apple in a research note on Wednesday, September 5th. Finally, DZ Bank reaffirmed a buy rating on shares of Apple in a research note on Monday, September 3rd. Four research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and twenty-four have assigned a buy rating to the stock. Apple has an average rating of Hold and an average price target of $219.67.

Shares of AAPL opened at $174.72 on Monday. The company has a market cap of $868.46 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. Apple has a 12-month low of $150.24 and a 12-month high of $233.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.09 and a current ratio of 1.12.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. The company had revenue of $62.90 billion for the quarter, compared to the consensus estimate of $61.55 billion. Apple had a return on equity of 48.68% and a net margin of 22.41%. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the company earned $2.07 EPS. On average, equities analysts expect that Apple will post 13.32 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 12th were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, November 8th. Apple’s dividend payout ratio is currently 24.52%.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the completion of the transaction, the senior vice president now owns 105,538 shares in the company, valued at approximately $24,554,471.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 3,408 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $190.00, for a total value of $647,520.00. Following the transaction, the insider now owns 8,940 shares of the company’s stock, valued at approximately $1,698,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 204,845 shares of company stock worth $47,015,677. Corporate insiders own 0.08% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Delphi Private Advisors LLC purchased a new stake in shares of Apple in the 2nd quarter worth $120,000. Quattro Financial Advisors LLC purchased a new stake in shares of Apple in the 1st quarter worth $133,000. CX Institutional purchased a new stake in shares of Apple in the 2nd quarter worth $135,000. Selective Wealth Management purchased a new stake in shares of Apple in the 3rd quarter worth $194,000. Finally, Gainplan LLC purchased a new stake in shares of Apple in the 1st quarter worth $200,000. Institutional investors own 57.14% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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