Apple Inc. (AAPL) Given “Buy” Rating at Drexel Hamilton
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by Drexel Hamilton in a research report issued to clients and investors on Tuesday. They presently have a $185.00 target price on the iPhone maker’s stock. Drexel Hamilton’s price target would indicate a potential upside of 62.88% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. Vetr raised Apple and set a $100.00 price target on the stock in a research report on Thursday, July 14th. Morgan Stanley set a $120.00 price objective on Apple and gave the company a “buy” rating in a research note on Wednesday, May 25th. BMO Capital Markets reiterated a “buy” rating and set a $117.00 price objective on shares of Apple in a research note on Tuesday, May 24th. Pacific Crest upgraded Apple to a “buy” rating in a research note on Tuesday, May 24th. Finally, Brean Capital reiterated a “buy” rating on shares of Apple in a research note on Tuesday, May 24th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, forty-two have given a buy rating and two have given a strong buy rating to the company. Apple currently has an average rating of “Buy” and a consensus target price of $126.49.
Shares of Apple (NASDAQ:AAPL) opened at 113.23 on Tuesday. The firm has a market capitalization of $610.13 billion, a price-to-earnings ratio of 13.20 and a beta of 1.14. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The stock’s 50 day moving average price is $108.13 and its 200-day moving average price is $102.24.
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Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The firm had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. During the same quarter in the prior year, the firm earned $1.85 EPS. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. Equities analysts predict that Apple will post $8.26 earnings per share for the current year.
In other news, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $100.00, for a total value of $2,500,000.00. Following the transaction, the senior vice president now owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of Apple stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $35,814,820.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in AAPL. Penserra Capital Management LLC boosted its position in shares of Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock valued at $103,000 after buying an additional 304 shares during the last quarter. Delphi Private Advisors LLC boosted its position in shares of Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock valued at $140,000 after buying an additional 69 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Apple during the second quarter valued at approximately $143,000. River & Mercantile Asset Management LLP boosted its position in shares of Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 334 shares during the last quarter. Finally, Roble Belko & Company Inc boosted its position in shares of Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 680 shares during the last quarter. 56.52% of the stock is currently owned by institutional investors.
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.
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