J P Morgan Chase & Co Reaffirms “Buy” Rating for Apple Inc. (AAPL)

J P Morgan Chase & Co restated their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note issued to investors on Monday, September 11th. They currently have a price objective on the iPhone maker’s stock.

Other equities analysts also recently issued reports about the stock. UBS AG reissued a buy rating and set a $170.00 price target on shares of Apple in a report on Saturday, May 20th. Deutsche Bank AG reissued a hold rating and set a $130.00 price target on shares of Apple in a report on Tuesday, June 6th. Credit Suisse Group reissued an outperform rating and set a $170.00 price target on shares of Apple in a report on Tuesday, June 6th. BMO Capital Markets reissued an outperform rating and set a $170.00 price target on shares of Apple in a report on Tuesday, July 25th. Finally, Sanford C. Bernstein reissued a buy rating and set a $160.00 price target on shares of Apple in a report on Tuesday, May 23rd. Ten equities research analysts have rated the stock with a hold rating, forty-three have given 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 target price of $188.24.

Shares of Apple (AAPL) opened at 153.39 on Monday. Apple has a 52-week low of $104.08 and a 52-week high of $164.94. The stock’s 50 day moving average price is $159.51 and its 200-day moving average price is $149.86. The firm has a market cap of $792.29 billion, a PE ratio of 17.41 and a beta of 1.27. Apple also was the target of some unusual options trading activity on Wednesday. Stock investors acquired 174,155 put options on the stock. This represents an increase of 102% compared to the average volume of 86,200 put options.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same period in the previous year, the business earned $1.42 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Apple will post $9.01 earnings per share for the current fiscal year.

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In related news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Johny Srouji sold 5,892 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $161.00, for a total value of $948,612.00. Following the transaction, the insider now owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Sky Asset Management LLC bought a new position in Apple in the second quarter worth $108,000. Hefty Wealth Partners raised its holdings in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares in the last quarter. FNY Managed Accounts LLC raised its holdings 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 purchasing an additional 716 shares in the last quarter. American Beacon Advisors Inc. bought a new position in Apple in the first quarter worth $117,000. Finally, Private Vista LLC bought a new position in Apple in the second quarter worth $122,000. Institutional investors and hedge funds own 60.35% of the company’s stock.

About Apple

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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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