Rosenblatt Securities Reaffirms “Neutral” Rating for Apple Inc. (AAPL)
Apple Inc. (NASDAQ:AAPL)‘s stock had its “neutral” rating reissued by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday. They presently have a $150.00 price target on the iPhone maker’s stock. Rosenblatt Securities’ target price would indicate a potential downside of 3.89% from the company’s current price.
A number of other research firms have also issued reports on AAPL. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $170.00 target price on shares of Apple in a report on Wednesday, June 21st. Nomura reaffirmed a “buy” rating and set a $165.00 target price on shares of Apple in a report on Wednesday, July 5th. Maxim Group upped their target price on shares of Apple from $171.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, June 19th. UBS AG reaffirmed a “buy” rating and set a $170.00 target price on shares of Apple in a report on Wednesday, May 31st. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $202.00 target price on shares of Apple in a report on Tuesday, June 6th. Ten equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company’s stock. Apple presently has an average rating of “Buy” and an average price target of $188.11.
Apple (NASDAQ AAPL) traded down 1.72% during trading on Thursday, reaching $153.39. 37,511,661 shares of the company traded hands. The company has a market capitalization of $792.29 billion, a P/E ratio of 17.41 and a beta of 1.27. The firm has a 50-day moving average price of $159.51 and a 200-day moving average price of $149.86. Apple has a 52 week low of $104.08 and a 52 week high of $164.94. Apple also saw unusually large options trading activity on Wednesday. Traders acquired 174,155 put options on the company. This represents an increase of 102% compared to the average daily volume of 86,200 put options.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share. Analysts forecast that Apple will post $9.01 earnings per share for the current fiscal year.
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In other news, SVP Johny Srouji sold 10,469 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total value of $1,698,071.80. Following the completion of the transaction, the senior vice president now owns 76,250 shares of the company’s stock, valued at $12,367,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the 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. Over the last 90 days, insiders have sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Apple in the second quarter worth $400,000. Blue Sky Asset Management LLC bought a new position in shares of Apple in the second quarter worth $108,000. FNY Managed Accounts LLC grew its stake in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares in the last quarter. Hefty Wealth Partners grew 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 purchasing an additional 174 shares in the last quarter. Finally, American Beacon Advisors Inc. bought a new position in shares of Apple in the first quarter worth $117,000. 60.35% of the stock is owned by 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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