Apple Inc. (AAPL) Rating Reiterated by Drexel Hamilton
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by equities research analysts at Drexel Hamilton in a research note issued on Thursday. They currently have a $202.00 target price on the iPhone maker’s stock. Drexel Hamilton’s price objective indicates a potential upside of 40.19% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. UBS AG boosted their target price on shares of Apple from $165.00 to $200.00 in a report on Sunday, April 2nd. Goldman Sachs Group, Inc. (The) set a $150.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, March 22nd. Bank of America Corporation boosted their target price on shares of Apple from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, March 16th. Credit Suisse Group set a $160.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Monday, March 13th. Finally, Instinet reissued a “buy” rating and issued a $135.00 target price on shares of Apple in a report on Monday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. Apple has a consensus rating of “Buy” and an average target price of $160.92.
Shares of Apple (NASDAQ:AAPL) traded down 0.8642% during trading on Thursday, hitting $142.8448. 19,698,359 shares of the stock were exchanged. The firm has a 50 day moving average of $150.30 and a 200-day moving average of $137.42. Apple has a 52-week low of $94.37 and a 52-week high of $156.65. The stock has a market cap of $744.77 billion, a PE ratio of 16.7580 and a beta of 1.31.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping the consensus estimate of $2.02 by $0.08. Apple had a net margin of 20.74% and a return on equity of 35.09%. The firm had revenue of $52.90 billion for the quarter, compared to the consensus estimate of $52.61 billion. Equities research analysts anticipate that Apple will post $8.93 earnings per share for the current fiscal year.
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In other Apple news, SVP D Bruce Sewell sold 67,500 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $148.76, for a total value of $10,041,300.00. Following the completion of the sale, the senior vice president now owns 141,325 shares in the company, valued at $21,023,507. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Luca Maestri sold 4,757 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the sale, the insider now owns 3,414 shares of the company’s stock, valued at approximately $528,145.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 367,359 shares of company stock valued at $55,684,675. 0.08% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of AAPL. Hefty Wealth Partners boosted its stake in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares in the last quarter. Private Asset Management Inc. boosted its stake in shares of Apple by 3.1% in the second quarter. Private Asset Management Inc. now owns 111,271 shares of the iPhone maker’s stock worth $16,025,000 after buying an additional 3,333 shares in the last quarter. McQueen Ball & Associates Inc. boosted its stake in shares of Apple by 0.5% in the second quarter. McQueen Ball & Associates Inc. now owns 36,951 shares of the iPhone maker’s stock worth $5,322,000 after buying an additional 180 shares in the last quarter. Swarthmore Group Inc. purchased a new stake in shares of Apple during the second quarter worth $8,706,000. Finally, Toth Financial Advisory Corp boosted its stake in shares of Apple by 12.7% in the second quarter. Toth Financial Advisory Corp now owns 21,053 shares of the iPhone maker’s stock worth $3,032,000 after buying an additional 2,367 shares in the last quarter. Institutional investors own 61.26% 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.
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