Apple (NASDAQ:AAPL) Downgraded by KeyCorp

KeyCorp cut shares of Apple (NASDAQ:AAPLFree Report) from a sector weight rating to an underweight rating in a report published on Friday, MarketBeat.com reports. KeyCorp currently has $200.00 price target on the iPhone maker’s stock. KeyCorp also issued estimates for Apple’s Q1 2025 earnings at $2.34 EPS, Q2 2025 earnings at $1.57 EPS, Q3 2025 earnings at $1.48 EPS, Q4 2025 earnings at $1.66 EPS and FY2025 earnings at $7.05 EPS.

A number of other equities analysts also recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $285.00 price target on shares of Apple in a research report on Monday, September 9th. Moffett Nathanson began coverage on shares of Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target on the stock. Loop Capital upped their price objective on shares of Apple to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. UBS Group reiterated a “hold” rating and issued a $236.00 target price on shares of Apple in a research report on Wednesday, October 16th. Finally, StockNews.com raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

Get Our Latest Analysis on Apple

Apple Price Performance

Shares of NASDAQ AAPL opened at $231.41 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The stock has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.40 and a beta of 1.24. The firm’s 50 day simple moving average is $226.86 and its 200-day simple moving average is $210.64. Apple has a 12 month low of $164.07 and a 12 month high of $237.49.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same quarter last year, the business earned $1.26 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Analysts expect that Apple will post 6.65 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 517,924 shares of company stock valued at $114,786,399. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Voisard Asset Management Group Inc. lifted its stake in Apple by 10.7% in the third quarter. Voisard Asset Management Group Inc. now owns 8,659 shares of the iPhone maker’s stock worth $2,018,000 after acquiring an additional 835 shares during the last quarter. 1620 Investment Advisors Inc. lifted its position in shares of Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares during the last quarter. Boyd Wealth Management LLC grew its stake in shares of Apple by 3.0% during the third quarter. Boyd Wealth Management LLC now owns 4,459 shares of the iPhone maker’s stock worth $1,039,000 after purchasing an additional 131 shares in the last quarter. Solidarity Wealth LLC grew its stake in shares of Apple by 6.1% during the third quarter. Solidarity Wealth LLC now owns 164,452 shares of the iPhone maker’s stock worth $38,317,000 after purchasing an additional 9,507 shares in the last quarter. Finally, Cornerstone Wealth Group LLC raised its stake in Apple by 0.5% in the third quarter. Cornerstone Wealth Group LLC now owns 232,665 shares of the iPhone maker’s stock valued at $54,211,000 after buying an additional 1,044 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

About Apple

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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.

Further Reading

Analyst Recommendations for Apple (NASDAQ:AAPL)

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