Apple Inc. (AAPL) Stock Rating Reaffirmed by Royal Bank Of Canada
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating restated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Monday. They currently have a $180.00 price objective on the iPhone maker’s stock. Royal Bank Of Canada’s price target points to a potential upside of 15.26% from the company’s previous close.
Several other equities analysts also recently commented on AAPL. Pacific Crest reaffirmed an “equal weight” rating on shares of Apple in a research report on Wednesday, June 28th. Citigroup Inc. reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Apple in a research report on Tuesday, July 4th. Instinet reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Apple in a research report on Wednesday, July 5th. Nomura reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Apple in a research report on Wednesday, July 5th. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $163.00 price objective on shares of Apple in a research report on Thursday, July 6th. Seven investment analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $190.67.
Shares of Apple (NASDAQ:AAPL) traded down 0.05% on Monday, hitting $156.17. 21,984,327 shares of the stock traded hands. The firm has a 50 day moving average price of $157.09 and a 200 day moving average price of $152.10. The firm has a market cap of $806.65 billion, a PE ratio of 17.73 and a beta of 1.27. Apple has a 52-week low of $104.08 and a 52-week high of $164.94.
Apple (NASDAQ:AAPL) last announced 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 company had revenue of $45.41 billion for 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%. Apple’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.42 EPS. On average, equities analysts forecast that Apple will post $9.01 EPS for the current year.
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In other Apple news, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total value of $9,775,063.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Johny Srouji sold 5,892 shares of the firm’s 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 completion of the sale, the insider now directly owns 70,358 shares in the company, valued at $11,327,638. The disclosure for this sale can be found here. Over the last three months, insiders sold 541,177 shares of company stock worth $85,864,804. 0.08% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Oliver Luxxe Assets LLC grew its holdings in Apple by 12.7% in the third quarter. Oliver Luxxe Assets LLC now owns 59,530 shares of the iPhone maker’s stock valued at $9,175,000 after purchasing an additional 6,697 shares during the period. Mizuho Securities USA LLC acquired a new stake in Apple in the third quarter valued at approximately $2,359,000. New Capital Management LP grew its holdings in Apple by 3.2% in the third quarter. New Capital Management LP now owns 17,384 shares of the iPhone maker’s stock valued at $2,679,000 after purchasing an additional 533 shares during the period. Harrington Investments INC acquired a new stake in Apple in the third quarter valued at approximately $6,755,000. Finally, Advisors Capital Management LLC grew its holdings in Apple by 3.4% in the third quarter. Advisors Capital Management LLC now owns 92,670 shares of the iPhone maker’s stock valued at $14,282,000 after purchasing an additional 3,014 shares during the period. 60.33% of the stock is currently 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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