Apple Inc. (AAPL) Given Average Recommendation of “Buy” by Analysts
Shares of Apple Inc. (NASDAQ:AAPL) have been assigned a consensus rating of “Buy” from the fifty-four ratings firms that are covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation, forty-two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $192.72.
AAPL has been the topic of several research analyst reports. Credit Suisse Group reiterated an “outperform” rating and issued a $170.00 price objective on shares of Apple in a report on Tuesday, June 6th. UBS AG set a $170.00 target price on Apple and gave the company a “buy” rating in a report on Tuesday, June 6th. Deutsche Bank AG reissued a “hold” rating and set a $130.00 target price on shares of Apple in a report on Tuesday, June 6th. BMO Capital Markets restated an “outperform” rating and issued a $170.00 target price on shares of Apple in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 target price on shares of Apple in a research report on Tuesday.
Apple (NASDAQ AAPL) opened at 154.48 on Wednesday. The stock has a market cap of $797.92 billion, a PE ratio of 17.54 and a beta of 1.27. Apple has a 12-month low of $104.08 and a 12-month high of $164.94. The firm’s 50-day moving average price is $158.46 and its 200 day moving average price is $150.88.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping 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 business had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same quarter in the previous year, the company earned $1.42 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Apple will post $9.01 EPS for the current year.
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In other Apple news, insider Johny Srouji sold 5,892 shares of Apple stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $161.00, for a total value of $948,612.00. Following the transaction, the insider now owns 70,358 shares in the company, valued at $11,327,638. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction that occurred 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 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 quarter. Insiders own 0.08% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Blue Sky Asset Management LLC acquired a new stake in shares of Apple during the second quarter worth $108,000. Hefty Wealth Partners lifted its holdings in shares of Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares during the last quarter. FNY Managed Accounts LLC lifted its holdings in shares of Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares during the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of Apple during the first quarter valued at $117,000. Finally, Private Vista LLC purchased a new stake in shares of Apple during the second quarter valued at $122,000. Institutional investors own 60.36% 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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