Rosenblatt Securities Reiterates “Buy” Rating for Apple (AAPL)

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a research report issued on Friday.

Other equities research analysts have also recently issued research reports about the stock. Bank of America cut shares of Apple from a “buy” rating to a “neutral” rating and boosted their target price for the company from $180.00 to $220.00 in a report on Wednesday. Zacks Investment Research raised shares of Apple from a “hold” rating to a “buy” rating and set a $197.00 target price on the stock in a report on Thursday. Barclays set a $174.00 target price on shares of Apple and gave the company a “neutral” rating in a report on Thursday. Mizuho reissued a “neutral” rating and set a $175.00 target price (up previously from $160.00) on shares of Apple in a report on Friday. Finally, Nomura set a $185.00 target price on shares of Apple and gave the company a “buy” rating in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $200.59.

Shares of Apple (NASDAQ:AAPL) traded down $1.04 during mid-day trading on Friday, reaching $178.22. 12,032,269 shares of the company’s stock were exchanged, compared to its average volume of 25,510,000. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23. Apple has a 1-year low of $119.37 and a 1-year high of $180.10. The company has a market cap of $913,500.00, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.46 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter in the previous year, the firm posted $1.50 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. analysts forecast that Apple will post 11.18 EPS for the current fiscal year.

In related news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $169.69, for a total value of $2,654,121.29. Following the completion of the transaction, the insider now directly owns 17,341 shares in the company, valued at $2,942,594.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Johny Srouji sold 5,760 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the completion of the transaction, the senior vice president now owns 81,560 shares of the company’s stock, valued at $14,224,064. The disclosure for this sale can be found here. Insiders sold 128,412 shares of company stock valued at $22,115,155 over the last quarter. 0.08% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. Blue Sky Asset Management LLC purchased a new stake in Apple during the second quarter valued at about $108,000. FNY Managed Accounts LLC raised its stake in shares of Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 716 shares during the last quarter. Private Vista LLC bought a new position in shares of Apple during the second quarter valued at about $122,000. Armbruster Capital Management Inc. raised its stake in shares of Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after acquiring an additional 78 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Apple during the second quarter valued at about $149,000. Institutional investors and hedge funds own 60.19% of the company’s stock.

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Apple Company Profile

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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