Robert W. Baird Reaffirms “Buy” Rating for Apple Inc. (AAPL)
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by analysts at Robert W. Baird in a research report issued to clients and investors on Wednesday. They currently have a $175.00 price objective on the iPhone maker’s stock. Robert W. Baird’s price objective suggests a potential upside of 13.28% from the company’s previous close.
A number of other research analysts have also issued reports on AAPL. 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. UBS AG set a $170.00 price target on Apple and gave the stock a “buy” rating in a report on Tuesday, June 6th. Deutsche Bank AG reaffirmed a “hold” rating and set a $130.00 price target on shares of Apple in a report on Tuesday, June 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $170.00 price target on shares of Apple in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $180.00 price objective on shares of Apple in a research report on Tuesday. Ten 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’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $188.98.
Shares of Apple (NASDAQ:AAPL) traded down 0.7486% during mid-day trading on Wednesday, reaching $153.3235. 15,749,853 shares of the company were exchanged. The stock has a 50 day moving average price of $158.46 and a 200-day moving average price of $150.88. Apple has a 12 month low of $104.08 and a 12 month high of $164.94. The stock has a market capitalization of $791.95 billion, a P/E ratio of 17.4073 and a beta of 1.27.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 EPS. Analysts predict that Apple will post $9.01 earnings per share for the current year.
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In other Apple news, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction on 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 filing with the SEC, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the transaction, the director now directly owns 1,168,283 shares in the company, valued at $184,098,035.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the business. Saratoga Research & Investment Management raised its stake in shares of Apple by 0.6% in the 1st quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock valued at $95,840,000 after acquiring an additional 4,137 shares in the last quarter. Pinnacle Bank acquired a new stake in Apple in the 1st quarter worth approximately $1,924,000. Green Square Capital LLC lifted its holdings in Apple by 6.7% in the 1st quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after purchasing an additional 5,491 shares during the last quarter. Headinvest LLC lifted its holdings in Apple by 2.5% in the 2nd quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after purchasing an additional 390 shares during the last quarter. Finally, Nicolet Bankshares Inc. lifted its holdings in Apple by 3.1% in the 1st quarter. Nicolet Bankshares Inc. now owns 27,684 shares of the iPhone maker’s stock worth $3,977,000 after purchasing an additional 844 shares during the last quarter. 60.36% 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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