Apple’s (AAPL) Outperform Rating Reiterated at Credit Suisse Group AG
Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating reaffirmed by investment analysts at Credit Suisse Group AG in a report issued on Thursday. They currently have a $150.00 price target on the iPhone maker’s stock. Credit Suisse Group AG’s price objective suggests a potential upside of 28.23% from the stock’s current price.
Several other equities research analysts also recently weighed in on AAPL. Raymond James Financial Inc. reissued a “hold” rating on shares of Apple in a research report on Saturday, July 9th. Barclays PLC reissued a “buy” rating on shares of Apple in a research report on Sunday, July 17th. Brean Capital reissued a “buy” rating and issued a $125.00 target price on shares of Apple in a research report on Wednesday, June 15th. RBC Capital Markets reissued an “outperform” rating and issued a $117.00 target price (up previously from $115.00) on shares of Apple in a research report on Thursday, August 11th. Finally, Mizuho reaffirmed a “buy” rating and set a $120.00 price objective on shares of Apple in a research report on Monday, July 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-three have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $126.72.
Apple (NASDAQ:AAPL) traded down 0.31% during midday trading on Thursday, hitting $116.98. 35,192,406 shares of the stock were exchanged. The firm’s 50-day moving average is $111.28 and its 200 day moving average is $103.56. The stock has a market cap of $630.34 billion, a price-to-earnings ratio of 13.64 and a beta of 1.22. Apple has a 52 week low of $89.47 and a 52 week high of $123.82.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/13/apples-aapl-outperform-rating-reiterated-at-credit-suisse-group-ag.html
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.04. The company earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The company’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.85 EPS. Equities research analysts expect that Apple will post $8.26 EPS for the current fiscal year.
In related news, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the completion of the transaction, the senior vice president now owns 105,839 shares in the company, valued at $10,583,900. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 43,769 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $112.59, for a total value of $4,927,951.71. Following the transaction, the chief operating officer now owns 90,657 shares of the company’s stock, valued at approximately $10,207,071.63. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
Several institutional investors have recently made changes to their positions in AAPL. Vanguard Group Inc. increased its position in Apple by 0.4% in the second quarter. Vanguard Group Inc. now owns 331,395,817 shares of the iPhone maker’s stock worth $31,681,440,000 after buying an additional 1,408,642 shares during the period. BlackRock Group LTD increased its position in Apple by 1.6% in the second quarter. BlackRock Group LTD now owns 48,083,386 shares of the iPhone maker’s stock worth $4,596,772,000 after buying an additional 759,339 shares during the period. TIAA CREF Investment Management LLC increased its position in Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock worth $3,991,635,000 after buying an additional 301,502 shares during the period. Legal & General Group Plc increased its position in Apple by 2.6% in the second quarter. Legal & General Group Plc now owns 24,474,691 shares of the iPhone maker’s stock worth $2,339,700,000 after buying an additional 625,760 shares during the period. Finally, Cohen & Steers Inc. increased its position in Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock worth $999,482,000 after buying an additional 22,303,795 shares during the period. Institutional investors own 56.46% of the company’s stock.
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.
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.