Apple’s (AAPL) Buy Rating Reaffirmed at UBS AG

UBS AG reissued their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report sent to investors on Monday morning, www.flashratings.com reports. The firm currently has a $180.00 price target on the iPhone maker’s stock.

Several other research analysts also recently commented on the company. Morgan Stanley lifted their price target on Apple from $177.00 to $182.00 and gave the stock an overweight rating in a research report on Monday, July 17th. Needham & Company LLC reaffirmed a buy rating and issued a $175.00 price target (up from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Cleveland Research raised Apple from a neutral rating to a buy rating and set a $197.00 price target on the stock in a research report on Tuesday, August 29th. Bank of America Corporation reaffirmed a buy rating and issued a $180.00 price target (up from $175.00) on shares of Apple in a research report on Wednesday, August 2nd. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $180.00 price target on shares of Apple in a research report on Monday, July 10th. Nine research analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $189.40.

Apple (NASDAQ AAPL) opened at 156.80 on Monday. The stock’s 50 day moving average price is $157.71 and its 200 day moving average price is $151.46. Apple has a 1-year low of $104.08 and a 1-year high of $164.94. The stock has a market capitalization of $809.91 billion, a PE ratio of 17.80 and a beta of 1.27.

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

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In other Apple news, insider Philip W. Schiller sold 56,808 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total transaction of $8,788,197.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold a total of 541,177 shares of company stock worth $85,864,804 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. First National Bank of Mount Dora Trust Investment Services raised its position in shares of Apple by 8.6% in the 3rd quarter. First National Bank of Mount Dora Trust Investment Services now owns 34,987 shares of the iPhone maker’s stock worth $5,393,000 after acquiring an additional 2,766 shares in the last quarter. Crow Point Partners LLC raised its position in shares of Apple by 100.0% in the 3rd quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock worth $153,000 after acquiring an additional 500 shares in the last quarter. Parker Investment Management LLC raised its position in shares of Apple by 2.1% in the 3rd quarter. Parker Investment Management LLC now owns 22,714 shares of the iPhone maker’s stock worth $3,501,000 after acquiring an additional 470 shares in the last quarter. McQueen Ball & Associates Inc. raised its position in shares of Apple by 2.6% in the 3rd quarter. McQueen Ball & Associates Inc. now owns 37,913 shares of the iPhone maker’s stock worth $5,843,000 after acquiring an additional 962 shares in the last quarter. Finally, Curbstone Financial Management Corp raised its position in shares of Apple by 89.2% in the 3rd quarter. Curbstone Financial Management Corp now owns 47,132 shares of the iPhone maker’s stock worth $7,264,000 after acquiring an additional 22,216 shares in the last quarter. 60.36% of the stock is owned by hedge funds and other institutional investors.

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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