Vetr cut shares of Apple Inc. (NASDAQ:AAPL) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning. They currently have $173.47 target price on the iPhone maker’s stock.
Other equities analysts have also recently issued research reports about the company. Oppenheimer Holdings, Inc. restated a rating on shares of Apple in a report on Thursday, August 10th. UBS AG set a $170.00 price objective on Apple and gave the company a buy rating in a report on Monday, June 12th. Citigroup Inc. restated a buy rating and issued a $160.00 price objective on shares of Apple in a report on Monday, June 12th. Longbow Research restated a buy rating and issued a $173.00 price objective on shares of Apple in a report on Tuesday, June 13th. Finally, Drexel Hamilton restated a buy rating and issued a $202.00 price objective on shares of Apple in a report on Tuesday, June 13th. Nine analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. Apple currently has an average rating of Buy and a consensus price target of $189.61.
Apple (AAPL) opened at 155.84 on Friday. The stock has a market cap of $804.95 billion, a P/E ratio of 17.69 and a beta of 1.27. The firm has a 50-day moving average price of $157.95 and a 200-day moving average price of $151.28. Apple has a 52 week low of $104.08 and a 52 week high of $164.94.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. Apple’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 EPS. On average, equities research analysts predict that Apple will post $9.01 EPS for the current year.
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In other Apple news, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,177 shares of company stock valued at $85,864,804. 0.08% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Stone House Investment Management LLC raised its holdings in Apple by 0.4% in the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after buying an additional 6 shares during the last quarter. FC Advisory LLC raised its holdings in Apple by 0.4% in the second quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock worth $371,000 after buying an additional 10 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its holdings in Apple by 0.3% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock worth $782,000 after buying an additional 17 shares during the last quarter. Stonehearth Capital Management LLC raised its holdings in Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares during the last quarter. Finally, Lenox Wealth Advisors Inc. raised its holdings in Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after buying an additional 20 shares during the last quarter. 60.36% of the stock is owned by institutional investors and hedge funds.
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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