Apple Inc. (AAPL) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Apple Inc. (NASDAQ:AAPL) have been given a consensus rating of “Buy” by the fifty-three research firms that are covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation, forty have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $162.04.
AAPL has been the subject of several recent research reports. Macquarie reaffirmed an “outperform” rating and issued a $170.00 price objective (up previously from $160.00) on shares of Apple in a research report on Monday, June 12th. Barclays PLC reaffirmed an “equal weight” rating and issued a $123.00 price objective on shares of Apple in a research report on Friday, June 16th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Apple in a research report on Wednesday, June 14th. Mizuho increased their price objective on shares of Apple from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, February 27th. Finally, BidaskClub downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th.
Apple (NASDAQ AAPL) opened at 146.28 on Monday. The company has a 50 day moving average of $151.25 and a 200-day moving average of $136.05. The firm has a market cap of $762.68 billion, a PE ratio of 17.16 and a beta of 1.28. Apple has a one year low of $91.50 and a one year high of $156.65.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. The firm had revenue of $52.90 billion during the quarter, compared to the consensus estimate of $52.61 billion. Apple had a net margin of 20.74% and a return on equity of 35.09%. On average, equities research analysts predict that Apple will post $8.94 earnings per share for the current year.
In related news, SVP D Bruce Sewell sold 67,500 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $148.76, for a total transaction of $10,041,300.00. Following the completion of the transaction, the senior vice president now directly owns 141,325 shares in the company, valued at $21,023,507. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Philip W. Schiller sold 47,796 shares of the stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $143.32, for a total value of $6,850,122.72. Following the transaction, the insider now owns 94,010 shares of the company’s stock, valued at $13,473,513.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 447,411 shares of company stock valued at $67,200,745. 0.08% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Waldron LP boosted its position in shares of Apple by 37.9% in the first quarter. Waldron LP now owns 46,930 shares of the iPhone maker’s stock valued at $6,722,000 after buying an additional 12,898 shares during the period. Atlantic Trust LLC boosted its position in shares of Apple by 51.1% in the first quarter. Atlantic Trust LLC now owns 9,375 shares of the iPhone maker’s stock valued at $1,347,000 after buying an additional 3,170 shares during the period. Blankinship & Foster LLC boosted its position in shares of Apple by 2.7% in the first quarter. Blankinship & Foster LLC now owns 6,433 shares of the iPhone maker’s stock valued at $924,000 after buying an additional 170 shares during the period. Clearbridge Investments LLC boosted its position in shares of Apple by 1.2% in the first quarter. Clearbridge Investments LLC now owns 6,815,812 shares of the iPhone maker’s stock valued at $979,160,000 after buying an additional 82,453 shares during the period. Finally, TrueNorth Inc. boosted its position in shares of Apple by 6.3% in the first quarter. TrueNorth Inc. now owns 14,109 shares of the iPhone maker’s stock valued at $2,027,000 after buying an additional 836 shares during the period. 61.26% of the stock is 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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