Apple’s (AAPL) Buy Rating Reaffirmed at Drexel Hamilton
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by investment analysts at Drexel Hamilton in a research report issued to clients and investors on Monday. They presently have a $185.00 target price on the iPhone maker’s stock. Drexel Hamilton’s target price suggests a potential upside of 62.20% from the stock’s previous close.
Other analysts also recently issued research reports about the company. Raymond James Financial Inc. restated a “hold” rating on shares of Apple in a research note on Saturday, July 9th. Barclays PLC restated a “buy” rating on shares of Apple in a research note on Sunday, July 17th. Credit Suisse Group AG restated a “buy” rating and set a $150.00 target price on shares of Apple in a research note on Sunday, July 17th. Brean Capital reaffirmed a “buy” rating and issued a $125.00 price target on shares of Apple in a report on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Apple in a report on Thursday, August 11th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Apple has an average rating of “Buy” and an average price target of $126.13.
Shares of Apple (NASDAQ:AAPL) traded up 1.80% on Monday, reaching $116.11. The company’s stock had a trading volume of 12,529,869 shares. The stock has a market capitalization of $625.65 billion, a price-to-earnings ratio of 13.54 and a beta of 1.22. The stock has a 50-day moving average of $110.36 and a 200 day moving average of $103.24. Apple has a 52 week low of $89.47 and a 52 week high of $123.82.
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Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The firm earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. During the same quarter in the prior year, the company earned $1.85 EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, analysts expect that Apple will post $8.26 EPS for the current year.
In other news, CEO Timothy D. Cook sold 334,000 shares of Apple stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $107.23, for a total transaction of $35,814,820.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the sale, the senior vice president now directly owns 105,839 shares in the company, valued at approximately $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in AAPL. Advisory Services Network LLC raised its stake in shares of Apple by 3.5% in the third quarter. Advisory Services Network LLC now owns 83,070 shares of the iPhone maker’s stock worth $9,391,000 after buying an additional 2,796 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE bought a new stake in shares of Apple during the third quarter worth $243,000. Stokes & Hubbell Capital Management LLC raised its stake in shares of Apple by 1.1% in the third quarter. Stokes & Hubbell Capital Management LLC now owns 46,794 shares of the iPhone maker’s stock worth $5,290,000 after buying an additional 505 shares during the last quarter. Oliver Luxxe Assets LLC raised its stake in shares of Apple by 8.4% in the third quarter. Oliver Luxxe Assets LLC now owns 47,831 shares of the iPhone maker’s stock worth $5,407,000 after buying an additional 3,712 shares during the last quarter. Finally, Woodstock Corp raised its stake in shares of Apple by 2.4% in the third quarter. Woodstock Corp now owns 62,122 shares of the iPhone maker’s stock worth $7,023,000 after buying an additional 1,440 shares during the last quarter. 56.46% of the stock is currently owned by hedge funds and other 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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