Apple Inc. (NASDAQ:AAPL) Rating Reiterated by UBS AG
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by equities researchers at UBS AG in a research note issued to investors on Friday, www.flashratings.com reports. They presently have a $170.00 price target on the iPhone maker’s stock. UBS AG’s price objective indicates a potential upside of 13.08% from the stock’s current price.
A number of other research firms have also recently commented on AAPL. Deutsche Bank AG reissued a “hold” rating on shares of Apple in a research note on Wednesday, July 12th. KeyCorp reissued a “hold” rating on shares of Apple in a research note on Monday, July 10th. Morgan Stanley increased their target price on Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a research note on Monday. Macquarie reissued an “outperform” rating and issued a $170.00 target price (up from $160.00) on shares of Apple in a research note on Monday, June 12th. Finally, Instinet reissued a “buy” rating and issued a $165.00 target price on shares of Apple in a research note on Wednesday, July 5th. Eleven research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $160.38.
Apple (AAPL) traded down 0.12% during mid-day trading on Friday, reaching $150.16. 14,384,567 shares of the company traded hands. The stock has a market capitalization of $782.91 billion, a price-to-earnings ratio of 17.62 and a beta of 1.31. The company’s 50-day moving average is $147.46 and its 200-day moving average is $140.51. Apple has a 12-month low of $96.42 and a 12-month high of $156.65.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.08. The business had revenue of $52.90 billion during the quarter, compared to the consensus estimate of $52.61 billion. Apple had a return on equity of 35.09% and a net margin of 20.74%. Equities analysts predict that Apple will post $8.91 earnings per share for the current fiscal year.
Apple announced that its board has authorized a share buyback plan on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In other news, SVP D Bruce Sewell sold 67,500 shares of Apple 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 sale, the senior vice president now owns 141,325 shares in the company, valued at $21,023,507. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Luca Maestri sold 4,757 shares of Apple stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $154.70, for a total value of $735,907.90. Following the sale, the insider now owns 3,414 shares in the company, valued at approximately $528,145.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 373,000 shares of company stock worth $56,497,046. 0.08% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Hefty Wealth Partners boosted its stake in 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 during the period. American Beacon Advisors Inc. purchased a new stake in Apple during the first quarter worth approximately $117,000. Glacier Peak Capital LLC purchased a new stake in Apple during the fourth quarter worth approximately $127,000. Odey Holdings AG boosted its stake in Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in Apple during the second quarter worth approximately $149,000. Institutional investors and hedge funds own 61.21% 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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