Rosenblatt Securities Reiterates Sell Rating for Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPL)‘s stock had its “sell” rating reissued by equities researchers at Rosenblatt Securities in a research report issued to clients and investors on Monday, AnalystRatings.com reports. They presently have a $150.00 target price on the iPhone maker’s stock. Rosenblatt Securities’ price objective points to a potential downside of 44.13% from the stock’s current price.

A number of other brokerages have also recently commented on AAPL. DA Davidson lifted their target price on Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Cowen restated an “outperform” rating and set a $290.00 price target (up previously from $250.00) on shares of Apple in a report on Thursday, October 31st. ValuEngine lowered Apple from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Loop Capital restated a “hold” rating and issued a $265.00 price target on shares of Apple in a research report on Friday, December 6th. Finally, HSBC set a $190.00 price objective on shares of Apple and gave the stock a “sell” rating in a research note on Thursday, September 26th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $248.97.

Shares of NASDAQ:AAPL opened at $268.48 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.50 and a debt-to-equity ratio of 1.01. Apple has a 12 month low of $142.00 and a 12 month high of $268.25. The company has a 50-day moving average price of $259.21 and a 200 day moving average price of $219.73. The company has a market cap of $1,196.48 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 1.96 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.19. Apple had a return on equity of 53.82% and a net margin of 21.24%. The company had revenue of $64.04 billion for the quarter, compared to analysts’ expectations of $62.86 billion. During the same period in the previous year, the firm posted $2.91 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts forecast that Apple will post 13.18 EPS for the current year.

In other news, COO Jeffrey E. Williams sold 67,554 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $219.04, for a total transaction of $14,797,028.16. Following the completion of the sale, the chief operating officer now owns 237,517 shares of the company’s stock, valued at $52,025,723.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 37,394 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total value of $9,639,799.26. Following the completion of the sale, the director now owns 1,170,677 shares of the company’s stock, valued at approximately $301,788,823.83. The disclosure for this sale can be found here. Insiders sold a total of 182,998 shares of company stock worth $42,351,593 over the last 90 days. Insiders own 0.05% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trinity Legacy Partners LLC raised its stake in Apple by 66.8% in the second quarter. Trinity Legacy Partners LLC now owns 18,789 shares of the iPhone maker’s stock worth $3,776,000 after buying an additional 7,523 shares in the last quarter. Pictet North America Advisors SA lifted its stake in shares of Apple by 3.3% during the 2nd quarter. Pictet North America Advisors SA now owns 131,021 shares of the iPhone maker’s stock worth $25,932,000 after purchasing an additional 4,170 shares during the last quarter. Capital Bank & Trust Co boosted its position in Apple by 0.4% during the second quarter. Capital Bank & Trust Co now owns 621,074 shares of the iPhone maker’s stock valued at $122,994,000 after purchasing an additional 2,330 shares in the last quarter. Signaturefd LLC boosted its position in Apple by 5.4% during the third quarter. Signaturefd LLC now owns 72,303 shares of the iPhone maker’s stock valued at $16,194,000 after purchasing an additional 3,705 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in Apple by 2.0% during the second quarter. Fiera Capital Corp now owns 478,731 shares of the iPhone maker’s stock valued at $94,749,000 after purchasing an additional 9,473 shares in the last quarter. Institutional investors own 59.19% 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.

Read More: What does an outperform rating mean?

Analyst Recommendations for Apple (NASDAQ:AAPL)

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