Other equities research analysts also recently issued research reports about the stock. UBS AG reissued a buy rating and set a $170.00 price objective on shares of Apple in a research report on Wednesday, May 31st. Credit Suisse Group reaffirmed an outperform rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, June 6th. Deutsche Bank AG reaffirmed a hold rating and issued a $130.00 target price on shares of Apple in a report on Tuesday, June 6th. BMO Capital Markets reaffirmed an outperform rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie reaffirmed an outperform rating and issued a $170.00 target price (up previously from $160.00) on shares of Apple in a report on Tuesday, June 6th. Ten analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $188.59.
Apple (NASDAQ:AAPL) opened at 150.55 on Friday. The company has a market capitalization of $777.63 billion, a price-to-earnings ratio of 17.09 and a beta of 1.27. Apple has a 12-month low of $104.08 and a 12-month high of $164.94. The stock has a 50 day moving average price of $159.51 and a 200-day moving average price of $149.86.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter in the previous year, the firm posted $1.42 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts predict that Apple will post $9.01 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: “Apple Inc. (AAPL) Given “Buy” Rating at Citigroup Inc.” was first reported by BBNS and is the property of of BBNS. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://baseballnewssource.com/markets/apple-inc-aapl-given-buy-rating-at-citigroup-inc/1669952.html.
In other news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were 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 owns 1,168,283 shares of the company’s stock, valued at approximately $184,098,035.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 432,930 shares of company stock valued at $69,008,577. Company insiders own 0.08% of the company’s stock.
A number of large investors have recently modified their holdings of AAPL. Auxier Asset Management boosted its stake in Apple by 6.6% during the 4th quarter. Auxier Asset Management now owns 8,055 shares of the iPhone maker’s stock worth $933,000 after purchasing an additional 500 shares during the period. Pegasus Partners Ltd. boosted its stake in Apple by 4.4% during the 4th quarter. Pegasus Partners Ltd. now owns 53,182 shares of the iPhone maker’s stock worth $6,160,000 after purchasing an additional 2,231 shares during the period. Kentucky Retirement Systems acquired a new stake in Apple during the 4th quarter worth $44,815,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Apple during the 4th quarter worth $19,995,000. Finally, Wsfs Capital Management LLC acquired a new stake in Apple during the 4th quarter worth $1,655,000. Hedge funds and other institutional investors own 60.35% of the company’s stock.
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.
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with our FREE daily email newsletter.