Apple’s (AAPL) “Buy” Rating Reiterated at Loop Capital
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating restated by Loop Capital in a research report issued on Saturday. They presently have a $180.00 price target on the iPhone maker’s stock. Loop Capital’s target price would indicate a potential upside of 12.58% from the stock’s current price.
Other analysts also recently issued reports about the company. UBS AG reissued a “buy” rating and set a $170.00 price objective on shares of Apple in a research report on Saturday, May 20th. Credit Suisse Group reissued an “outperform” rating and set a $170.00 price objective on shares of Apple in a research report on Tuesday, June 6th. Deutsche Bank AG reissued a “hold” rating and set a $130.00 price objective on shares of Apple in a research report on Tuesday, June 6th. BMO Capital Markets reissued an “outperform” rating and set a $170.00 price objective on shares of Apple in a research report on Tuesday, July 25th. Finally, Sanford C. Bernstein reissued a “buy” rating and set a $160.00 price objective on shares of Apple in a research report on Tuesday, May 23rd. Eleven research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. Apple has a consensus rating of “Buy” and an average target price of $187.63.
Apple (NASDAQ AAPL) opened at 159.88 on Friday. The firm’s 50-day moving average is $158.97 and its 200-day moving average is $149.42. The company has a market cap of $825.82 billion, a PE ratio of 18.15 and a beta of 1.27. Apple has a 52-week low of $104.08 and a 52-week high of $164.94.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same period last year, the company earned $1.42 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Apple will post $9.01 EPS for the current year.
In related news, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Insiders sold a total of 432,930 shares of company stock worth $69,008,577 over the last 90 days. Insiders own 0.08% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Saratoga Research & Investment Management boosted its position in shares of Apple by 0.6% in the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after buying an additional 4,137 shares during the period. Pinnacle Bank acquired a new stake in shares of Apple in the first quarter worth $1,924,000. Green Square Capital LLC boosted its position in shares of Apple by 6.7% in the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after buying an additional 5,491 shares during the period. Headinvest LLC boosted its position in shares of Apple by 2.5% in the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after buying an additional 390 shares during the period. Finally, Norges Bank acquired a new stake in shares of Apple in the fourth quarter worth $5,625,709,000. Institutional investors and hedge funds own 60.45% 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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