HSBC lowered shares of Apple (NASDAQ:AAPL) from a buy rating to a hold rating in a research note published on Wednesday morning, The Fly reports. The firm currently has $160.00 target price on the iPhone maker’s stock, down from their prior target price of $200.00.

A number of other research analysts have also recently commented on AAPL. UBS Group started coverage on shares of Apple in a report on Wednesday, September 12th. Maxim Group raised their price objective on shares of Apple to $221.00 and gave the company an average rating in a report on Thursday, September 13th. Royal Bank of Canada raised their price objective on shares of Apple to $250.00 and gave the company an average rating in a report on Wednesday, September 26th. Morgan Stanley set a $245.00 price objective on shares of Apple and gave the company a buy rating in a report on Tuesday, September 11th. Finally, Macquarie restated a buy rating and set a $214.00 price target on shares of Apple in a report on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $195.19.

Shares of Apple stock opened at $152.29 on Wednesday. The stock has a market cap of $753.54 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.45 and a beta of 1.23. 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 has a 12-month low of $142.00 and a 12-month high of $233.47.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. The firm had revenue of $62.90 billion for the quarter, compared to the consensus estimate of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 earnings per share. On average, analysts predict that Apple will post 12.1 EPS for the current fiscal year.

In other news, insider Chris Kondo sold 3,408 shares of Apple stock in a transaction on Monday, November 19th. The stock was sold at an average price of $190.00, for a total transaction of $647,520.00. Following the sale, the insider now directly owns 8,940 shares in the company, valued at approximately $1,698,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Beacon Wealthcare Inc grew its holdings in shares of Apple by 5.0% during the fourth quarter. Beacon Wealthcare Inc now owns 1,502 shares of the iPhone maker’s stock worth $237,000 after purchasing an additional 71 shares in the last quarter. Beaton Management Co. Inc. grew its holdings in shares of Apple by 1.8% during the third quarter. Beaton Management Co. Inc. now owns 6,842 shares of the iPhone maker’s stock worth $1,545,000 after purchasing an additional 120 shares in the last quarter. Parkside Advisors LLC grew its holdings in shares of Apple by 3.6% during the fourth quarter. Parkside Advisors LLC now owns 4,018 shares of the iPhone maker’s stock worth $634,000 after purchasing an additional 139 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Apple by 2.4% during the fourth quarter. Sound Income Strategies LLC now owns 6,729 shares of the iPhone maker’s stock worth $1,061,000 after purchasing an additional 158 shares in the last quarter. Finally, Legacy Capital Partners Inc. grew its holdings in shares of Apple by 0.3% during the fourth quarter. Legacy Capital Partners Inc. now owns 63,063 shares of the iPhone maker’s stock worth $9,948,000 after purchasing an additional 193 shares in the last quarter. Institutional investors and hedge funds own 57.06% of the company’s stock.

About Apple

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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