BMO Capital Markets reaffirmed their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a report published on Wednesday, September 13th. The firm currently has a $180.00 price objective on the iPhone maker’s stock.
AAPL has been the subject of a number of other research reports. Piper Jaffray Companies reiterated an overweight rating and set a $190.00 price target on shares of Apple in a research report on Tuesday, September 5th. Robert W. Baird reiterated a buy rating and set a $172.00 price target on shares of Apple in a research report on Tuesday, September 5th. Barclays PLC reissued a hold rating and issued a $146.00 price objective on shares of Apple in a research note on Monday, September 4th. Royal Bank Of Canada boosted their price objective on Apple from $176.00 to $180.00 and gave the stock an outperform rating in a research note on Friday, September 1st. Finally, Sanford C. Bernstein reissued an outperform rating and issued a $175.00 price objective on shares of Apple in a research note on Wednesday, September 6th. Ten research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $188.96.
Apple (NASDAQ AAPL) opened at 154.12 on Wednesday. The firm has a 50 day moving average of $159.51 and a 200-day moving average of $149.86. The company has a market capitalization of $796.07 billion, a price-to-earnings ratio of 17.50 and a beta of 1.27. Apple has a 52-week low of $104.08 and a 52-week high of $164.94.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same period last year, the business posted $1.42 EPS. The company’s revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Apple will post $9.01 EPS for the current year.
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In other news, insider Johny Srouji sold 5,892 shares of Apple stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the transaction, the insider now directly owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold a total of 432,930 shares of company stock valued at $69,008,577 over the last three months. 0.08% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vantage Financial Partners Ltd. Inc. purchased a new stake in Apple in the 2nd quarter worth $400,000. Blue Sky Asset Management LLC purchased a new stake in Apple in the 2nd quarter worth $108,000. FNY Managed Accounts LLC increased its holdings in Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 716 shares in the last quarter. Hefty Wealth Partners increased its holdings in Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 174 shares in the last quarter. Finally, American Beacon Advisors Inc. purchased a new stake in Apple in the 1st quarter worth $117,000. 60.35% of the stock is owned by institutional investors.
Apple Company Profile
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.
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