Apple Inc. (AAPL) Receives Buy Rating from Sanford C. Bernstein
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by equities researchers at Sanford C. Bernstein in a report issued on Tuesday. They currently have a $175.00 price objective on the iPhone maker’s stock. Sanford C. Bernstein’s price objective suggests a potential upside of 15.21% from the stock’s current price.
Other research analysts have also issued reports about the stock. UBS AG reissued a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Wednesday, May 31st. Deutsche Bank AG reissued a “hold” rating and issued a $130.00 target price on shares of Apple in a report on Tuesday, June 6th. Credit Suisse Group reissued an “outperform” rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, June 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Apple in a research note on Tuesday, July 25th. Finally, Macquarie reaffirmed an “outperform” rating and set a $170.00 price objective (up from $160.00) on shares of Apple in a research note on Tuesday, June 6th. Ten equities research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company. Apple presently has an average rating of “Buy” and a consensus target price of $188.59.
Shares of Apple (AAPL) traded up 1.936% during midday trading on Tuesday, hitting $153.465. 27,759,328 shares of the stock were exchanged. The company has a market capitalization of $792.68 billion, a P/E ratio of 17.423 and a beta of 1.27. The firm has a 50-day moving average of $159.51 and a 200-day moving average of $149.86. Apple has a 1-year low of $104.08 and a 1-year high of $164.94.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. During the same period last year, the firm posted $1.42 earnings per share. Apple’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Apple will post $9.01 EPS for the current year.
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In other news, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was 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 link. Also, insider Daniel J. Riccio sold 11,949 shares of the firm’s 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Saratoga Research & Investment Management boosted its stake in shares of Apple by 0.6% during the 1st quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after acquiring an additional 4,137 shares in the last quarter. Pinnacle Bank bought a new stake in shares of Apple during the 1st quarter worth $1,924,000. Green Square Capital LLC boosted its stake in shares of Apple by 6.7% during the 1st quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after acquiring an additional 5,491 shares in the last quarter. Headinvest LLC boosted its stake in shares of Apple by 2.5% during the 2nd quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after acquiring an additional 390 shares in the last quarter. Finally, Nicolet Bankshares Inc. boosted its stake in shares of Apple by 3.1% during the 1st quarter. Nicolet Bankshares Inc. now owns 27,684 shares of the iPhone maker’s stock worth $3,977,000 after acquiring an additional 844 shares in the last quarter. 60.35% of the stock is owned by institutional investors and hedge funds.
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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