Apple Inc. (NASDAQ:AAPL)‘s stock had its “neutral” rating reaffirmed by Rosenblatt Securities in a research report issued to clients and investors on Thursday, September 21st. They currently have a $150.00 price objective on the iPhone maker’s stock. Rosenblatt Securities’ price objective points to a potential downside of 2.67% from the stock’s current price.
AAPL has been the subject of a number of other reports. Drexel Hamilton reissued a “buy” rating and issued a $202.00 price target on shares of Apple in a report on Thursday, July 6th. Barclays PLC reiterated a “hold” rating and issued a $146.00 price objective on shares of Apple in a research report on Monday, September 4th. Instinet restated a “buy” rating and set a $165.00 target price on shares of Apple in a research report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Apple in a report on Monday, September 11th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $194.00 price objective (up from $182.00) on shares of Apple in a report on Tuesday, September 12th. Ten equities research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $188.96.
Apple (NASDAQ AAPL) traded down 0.29% during midday trading on Thursday, reaching $153.68. 5,101,236 shares of the company traded hands. Apple has a one year low of $104.08 and a one year high of $164.94. The stock’s 50 day moving average is $159.51 and its 200 day moving average is $149.86. The company has a market capitalization of $793.79 billion, a price-to-earnings ratio of 17.45 and a beta of 1.27.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 earnings per share. On average, equities analysts anticipate that Apple will post $9.01 earnings per share for the current year.
In other news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. bought a new stake in Apple during the second quarter worth approximately $400,000. Blue Sky Asset Management LLC acquired a new position in Apple in the second quarter worth approximately $108,000. FNY Managed Accounts LLC grew its position in Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares during the last quarter. Hefty Wealth Partners increased its holdings in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares in the last quarter. Finally, American Beacon Advisors Inc. bought a new position in shares of Apple in the first quarter valued at $117,000. 60.36% of the stock is currently owned by institutional investors.
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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