Apple Inc. (AAPL) Earns Hold Rating from KeyCorp
Apple Inc. (NASDAQ:AAPL)‘s stock had its “hold” rating reiterated by KeyCorp in a research report issued to clients and investors on Thursday. KeyCorp also issued estimates for Apple’s Q1 2018 earnings at $3.78 EPS, Q2 2018 earnings at $2.67 EPS, Q3 2018 earnings at $2.16 EPS, Q4 2018 earnings at $2.20 EPS and FY2018 earnings at $10.84 EPS.
AAPL has been the subject of several other reports. Keefe, Bruyette & Woods set a $170.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Apple in a report on Wednesday, June 21st. Nomura reissued a “buy” rating and issued a $165.00 price target on shares of Apple in a report on Wednesday, July 5th. Morgan Stanley reissued an “overweight” rating and issued a $177.00 price target (up from $161.00) on shares of Apple in a report on Wednesday, May 17th. Finally, Maxim Group raised their price target on shares of Apple from $171.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 19th. Eleven investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $168.89.
Shares of Apple (AAPL) traded down 1.63% during midday trading on Thursday, hitting $158.63. The company had a trading volume of 28,611,535 shares. Apple has a 12-month low of $102.53 and a 12-month high of $164.94. The company has a market capitalization of $819.36 billion, a price-to-earnings ratio of 18.01 and a beta of 1.27. The company’s 50-day moving average price is $157.79 and its 200 day moving average price is $148.59.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.42 EPS. Equities research analysts predict that Apple will post $9.02 earnings per share for the current fiscal year.
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In other news, insider Chris Kondo sold 6,209 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $161.96, for a total value of $1,005,609.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Johny Srouji sold 10,469 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the completion of the sale, the senior vice president now owns 76,250 shares in the company, valued at $12,367,750. The disclosure for this sale can be found here. Insiders have sold a total of 432,930 shares of company stock worth $69,008,577 in the last three months. Insiders own 0.08% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Stone House Investment Management LLC boosted its holdings in shares of Apple by 0.4% in the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after buying an additional 6 shares in the last quarter. FC Advisory LLC boosted its holdings in shares of Apple by 0.4% in the 2nd quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock valued at $371,000 after buying an additional 10 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of Apple by 0.3% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after buying an additional 17 shares in the last quarter. Stonehearth Capital Management LLC boosted its holdings in shares of Apple by 0.8% in the 1st quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock valued at $342,000 after buying an additional 20 shares in the last quarter. Finally, Lenox Wealth Advisors Inc. boosted its holdings in shares of Apple by 0.4% in the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 60.44% 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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