Piper Jaffray Companies Reaffirms Buy Rating for Apple Inc. (AAPL)
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by stock analysts at Piper Jaffray Companies in a report released on Wednesday. They currently have a $196.00 price objective on the iPhone maker’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 25.72% from the stock’s current price.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Wednesday. Morgan Stanley restated a “buy” rating and issued a $199.00 price target on shares of Apple in a report on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Apple in a research note on Tuesday. Drexel Hamilton reaffirmed a “buy” rating and issued a $208.00 price objective on shares of Apple in a research note on Monday. Finally, UBS AG reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Apple in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. Apple has a consensus rating of “Buy” and an average target price of $189.40.
Apple (NASDAQ:AAPL) traded up 0.38% during midday trading on Wednesday, hitting $156.49. 13,242,532 shares of the stock traded hands. The firm’s 50-day moving average is $157.91 and its 200-day moving average is $151.39. The company has a market cap of $136.19 billion, a price-to-earnings ratio of 17.72 and a beta of 1.27. Apple has a 52-week low of $104.08 and a 52-week high of $164.94.
TRADEMARK VIOLATION WARNING: “Piper Jaffray Companies Reaffirms Buy Rating for Apple Inc. (AAPL)” was posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/10/11/piper-jaffray-companies-reaffirms-buy-rating-for-apple-inc-aapl.html.
In other Apple news, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the sale, the insider now owns 70,358 shares in the company, valued at approximately $11,327,638. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $158.13, for a total value of $5,000,861.25. Following the sale, the senior vice president now owns 112,430 shares of the company’s stock, valued at approximately $17,778,555.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 541,177 shares of company stock valued at $85,864,804. 0.08% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AAPL. Blue Sky Asset Management LLC acquired a new stake in Apple during the 2nd quarter valued at approximately $108,000. Hefty Wealth Partners grew its stake in Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares in the last quarter. FNY Managed Accounts LLC lifted its holdings in Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares during the last quarter. American Beacon Advisors Inc. bought a new position in Apple during the 1st quarter worth approximately $117,000. Finally, Private Vista LLC bought a new position in Apple during the 2nd quarter worth approximately $122,000. Hedge funds and other institutional investors own 60.36% of the company’s stock.
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.
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.