Bank of America lowered shares of Apple (NASDAQ:AAPL) from a buy rating to a neutral rating in a research note issued to investors on Wednesday. The firm currently has $220.00 price target on the iPhone maker’s stock, up from their previous price target of $180.00.

A number of other equities analysts also recently commented on AAPL. Rosenblatt Securities restated a neutral rating and set a $150.00 target price on shares of Apple in a report on Thursday, September 21st. Vetr upgraded Apple from a buy rating to a strong-buy rating and set a $173.06 target price for the company in a report on Friday, September 22nd. Piper Jaffray Companies restated an overweight rating and set a $196.00 target price (up previously from $190.00) on shares of Apple in a report on Friday, September 22nd. Maxim Group restated a buy rating and set a $182.00 target price on shares of Apple in a report on Friday, September 22nd. Finally, Citigroup restated a buy rating and set a $170.00 target price on shares of Apple in a report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $200.59.

Shares of Apple (NASDAQ:AAPL) traded down $0.80 during trading on Wednesday, hitting $178.46. The company had a trading volume of 30,827,809 shares, compared to its average volume of 25,680,000. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The company has a market capitalization of $916,270.00, a P/E ratio of 19.42, a PEG ratio of 1.44 and a beta of 1.23. Apple has a one year low of $119.50 and a one year high of $180.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. The company had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 earnings per share. equities analysts predict that Apple will post 11.15 EPS for the current year.

In related news, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $172.35, for a total transaction of $2,695,726.35. Following the sale, the insider now directly owns 39,682 shares of the company’s stock, valued at $6,839,192.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eduardo H. Cue sold 65,361 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. Insiders have sold 128,412 shares of company stock worth $22,115,155 over the last ninety days. 0.08% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Blue Sky Asset Management LLC bought a new position in shares of Apple in the second quarter worth about $108,000. FNY Managed Accounts LLC raised its stake in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares during the period. Private Vista LLC bought a new position in shares of Apple in the second quarter worth about $122,000. Armbruster Capital Management Inc. raised its stake in shares of Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after buying an additional 78 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in shares of Apple in the second quarter worth about $149,000. 60.19% of the stock is currently owned by institutional investors.

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About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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