Apple’s (AAPL) Hold Rating Reaffirmed at Mizuho

Mizuho reiterated their hold rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note released on Monday. Mizuho currently has a $150.00 target price on the iPhone maker’s stock.

A number of other brokerages also recently issued reports on AAPL. Barclays PLC reiterated a hold rating and set a $146.00 price objective on shares of Apple in a research note on Monday, September 4th. Piper Jaffray Companies reiterated an overweight rating and set a $190.00 price objective on shares of Apple in a research note on Tuesday, September 5th. Robert W. Baird reiterated a buy rating and set a $172.00 price objective on shares of Apple in a research note on Tuesday, September 5th. Royal Bank Of Canada increased their price objective on shares of Apple from $176.00 to $180.00 and gave the stock an outperform rating in a research note on Friday, September 1st. Finally, Sanford C. Bernstein reiterated an outperform rating and set a $175.00 price objective on shares of Apple in a research note on Wednesday, September 6th. 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. Apple presently has an average rating of Buy and an average price target of $188.24.

Apple (AAPL) opened at 153.39 on Monday. The company’s 50-day moving average is $159.51 and its 200 day moving average is $149.86. The company has a market capitalization of $792.29 billion, a P/E ratio of 17.41 and a beta of 1.27. Apple has a one year low of $104.08 and a one year high of $164.94. Apple also was the recipient of unusually large options trading activity on Wednesday. Investors purchased 174,155 put options on the company. This represents an increase of 102% compared to the typical daily volume of 86,200 put options.

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

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In other news, insider Johny Srouji sold 5,892 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the sale, the insider now directly owns 70,358 shares of the company’s stock, valued at $11,327,638. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction on Monday, August 28th. The stock was 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 three months, insiders sold 432,930 shares of company stock worth $69,008,577. Insiders own 0.08% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc. boosted its position in shares of Apple by 0.6% during the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after buying an additional 834,854 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after buying an additional 3,845,363 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Apple by 3.0% during the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after buying an additional 771,046 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Apple by 301.3% during the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after buying an additional 15,018,790 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Apple by 1.5% during the second quarter. Swiss National Bank now owns 19,169,416 shares of the iPhone maker’s stock valued at $2,760,779,000 after buying an additional 275,400 shares during the last quarter. 60.35% of the stock is currently owned by 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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