Apple (NASDAQ:AAPL) Downgraded to "Underweight" at KeyCorp

KeyCorp downgraded shares of Apple (NASDAQ:AAPL - Free Report) from a sector weight rating to an underweight rating in a research note published on Friday morning, MarketBeat.com reports. KeyCorp currently has $200.00 target price on the iPhone maker's stock.

Several other research firms have also recently weighed in on AAPL. Needham & Company LLC reiterated a "buy" rating and set a $260.00 price objective on shares of Apple in a report on Thursday, September 19th. Loop Capital lifted their price target on shares of Apple to $300.00 and gave the company a "buy" rating in a research note on Monday. Jefferies Financial Group cut Apple from a "buy" rating to a "hold" rating and increased their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Oppenheimer restated a "buy" rating and issued a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Finally, Moffett Nathanson began coverage on shares of Apple in a research note on Monday, August 19th. They set a "neutral" rating and a $211.00 price target for the company. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $235.91.

Apple Trading Up 0.4 %

Shares of AAPL traded up $0.84 on Friday, reaching $231.41. 38,778,252 shares of the company's stock were exchanged, compared to its average volume of 59,638,496. Apple has a 12 month low of $164.07 and a 12 month high of $237.49. The stock has a market capitalization of $3.55 trillion, a P/E ratio of 36.08, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The business has a 50 day moving average price of $226.75 and a two-hundred day moving average price of $209.62.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analysts' expectations of $84.43 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Apple will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple's dividend payout ratio is currently 15.55%.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company's stock, valued at $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 517,924 shares of company stock valued at $114,786,399. Company insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Apple

Several institutional investors and hedge funds have recently made changes to their positions in AAPL. International Assets Investment Management LLC boosted its position in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker's stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker's stock valued at $11,160,183,000 after acquiring an additional 2,785,807 shares during the period. Ameriprise Financial Inc. boosted its stake in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker's stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. Capital International Investors grew its stake in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker's stock valued at $6,369,852,000 after buying an additional 2,474,887 shares during the period. Finally, American Century Companies Inc. raised its stake in Apple by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker's stock worth $7,291,583,000 after buying an additional 1,065,759 shares during the period. Institutional investors and hedge funds own 60.41% of the company's stock.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.