Apple (NASDAQ:AAPL) Earns Underperform Rating from Analysts at Itau BBA Securities

Itau BBA Securities assumed coverage on shares of Apple (NASDAQ:AAPLGet Rating) in a report issued on Tuesday, The Fly reports. The brokerage issued an underperform rating and a $136.00 price target on the iPhone maker’s stock.

A number of other equities analysts have also commented on AAPL. Loop Capital dropped their price target on Apple from $210.00 to $180.00 and set a buy rating for the company in a research note on Wednesday, May 25th. UBS Group set a $185.00 price objective on Apple in a research report on Thursday, July 21st. Fundamental Research decreased their price objective on Apple from $179.32 to $175.24 and set an average rating on the stock in a research report on Friday, May 6th. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a research report on Monday. Finally, Credit Suisse Group set a $169.00 price objective on Apple in a research report on Friday, April 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to, Apple currently has an average rating of Moderate Buy and a consensus price target of $179.64.

Apple Price Performance

Shares of Apple stock opened at $151.60 on Tuesday. The stock has a 50 day moving average of $143.09 and a 200 day moving average of $157.63. Apple has a 12 month low of $129.04 and a 12 month high of $182.94. The firm has a market cap of $2.45 trillion, a PE ratio of 24.61, a PEG ratio of 2.00 and a beta of 1.19. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company had revenue of $97.28 billion during the quarter, compared to analyst estimates of $93.99 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. On average, research analysts expect that Apple will post 6.09 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date was Friday, May 6th. This is a boost from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is 14.94%.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

A number of institutional investors have recently made changes to their positions in AAPL. Cardinal Capital Management Inc. lifted its position in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC acquired a new stake in Apple during the 4th quarter worth about $41,000. CFS Investment Advisory Services LLC lifted its position in Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after acquiring an additional 7,416,445 shares during the period. Spence Asset Management acquired a new stake in Apple during the 2nd quarter worth about $49,000. Finally, HBC Financial Services PLLC lifted its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 57.98% of the company’s stock.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

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