Apple Inc. (AAPL) Earns Buy Rating from Nomura
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by equities research analysts at Nomura in a report released on Tuesday. They currently have a $135.00 price objective on the iPhone maker’s stock. Nomura’s price target would suggest a potential upside of 14.84% from the company’s previous close.
A number of other equities research analysts have also commented on AAPL. Vetr upgraded shares of Apple from a “buy” rating to a “strong-buy” rating and set a $107.09 price objective on the stock in a report on Monday, June 20th. Mizuho reiterated a “buy” rating and issued a $120.00 price target on shares of Apple in a research note on Tuesday, June 21st. Cowen and Company reiterated an “outperform” rating and issued a $125.00 price target on shares of Apple in a research note on Wednesday, June 22nd. Canaccord Genuity lowered their price target on shares of Apple from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. Finally, Morgan Stanley reiterated a “buy” rating and issued a $120.00 price target on shares of Apple in a research note on Monday, June 27th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, forty-four have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $127.11.
Apple (NASDAQ:AAPL) traded up 0.404% during midday trading on Tuesday, reaching $118.025. 14,253,058 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $111.87 and a 200 day moving average price of $103.64. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The company has a market cap of $635.97 billion, a price-to-earnings ratio of 13.762 and a beta of 1.22.
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Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business had revenue of $42.36 billion for the quarter, compared to analyst estimates of $42.35 billion. During the same period last year, the business posted $1.85 earnings per share. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. Analysts anticipate that Apple will post $8.26 EPS for the current year.
In other news, COO Jeffrey E. Williams sold 43,769 shares of Apple stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $112.59, for a total value of $4,927,951.71. Following the completion of the transaction, the chief operating officer now owns 90,657 shares of the company’s stock, valued at approximately $10,207,071.63. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arthur D. Levinson sold 70,000 shares of Apple stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $108.68, for a total value of $7,607,600.00. Following the completion of the transaction, the director now directly owns 1,203,283 shares of the company’s stock, valued at approximately $130,772,796.44. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised 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 valued at $31,681,440,000 after buying an additional 1,408,642 shares in the last quarter. BlackRock Group LTD raised its position in shares of 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 raised its position in shares of 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 raised its position in shares of 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. raised its position in shares of 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. 56.41% of the stock is owned by hedge funds and other institutional investors.
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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