Apple Inc. (AAPL) Upgraded at Vetr Inc.
Apple Inc. (NASDAQ:AAPL) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Friday. The brokerage presently has a $173.06 price objective on the iPhone maker’s stock. Vetr‘s price objective would indicate a potential upside of 13.94% from the stock’s previous close.
Several other equities research analysts also recently issued reports on AAPL. UBS AG restated a “buy” rating and issued a $170.00 price target on shares of Apple in a report on Wednesday, May 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $160.08 price objective (down from $176.00) on shares of Apple in a research report on Wednesday, August 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $150.00 price objective on shares of Apple in a research report on Thursday. Loop Capital reaffirmed a “buy” rating and set a $180.00 price objective on shares of Apple in a research report on Saturday, September 16th. Finally, Mizuho reaffirmed a “hold” rating and set a $150.00 price objective on shares of Apple in a research report on Monday, September 18th. Ten analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $188.37.
Shares of Apple (NASDAQ:AAPL) traded down 0.98% during midday trading on Friday, reaching $151.89. The company’s stock had a trading volume of 46,645,443 shares. The stock has a 50-day moving average of $159.51 and a 200 day moving average of $149.86. The company has a market cap of $784.55 billion, a price-to-earnings ratio of 17.24 and a beta of 1.27. Apple has a 12 month low of $104.08 and a 12 month high of $164.94. Apple also saw unusually large options trading on Wednesday. Investors purchased 174,155 put options on the stock. This represents an increase of 102% compared to the average daily volume of 86,200 put options.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts predict that Apple will post $9.01 earnings per share for the current fiscal year.
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In other Apple news, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $142.86, for a total transaction of $1,707,034.14. 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. Company insiders own 0.08% of the company’s stock.
Several institutional investors have recently bought and sold shares of AAPL. Auxier Asset Management boosted its holdings in shares of Apple by 6.6% during the fourth quarter. Auxier Asset Management now owns 8,055 shares of the iPhone maker’s stock worth $933,000 after purchasing an additional 500 shares during the period. Pegasus Partners Ltd. boosted its holdings in shares of Apple by 4.4% during the fourth quarter. Pegasus Partners Ltd. now owns 53,182 shares of the iPhone maker’s stock worth $6,160,000 after purchasing an additional 2,231 shares during the period. Kentucky Retirement Systems purchased a new stake in shares of Apple during the fourth quarter worth about $44,815,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Apple during the fourth quarter worth about $19,995,000. Finally, Wsfs Capital Management LLC purchased a new stake in shares of Apple during the fourth quarter worth about $1,655,000. Institutional investors own 60.35% 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.
To view Vetr’s full report, visit Vetr’s official website.
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