Apple’s (AAPL) “Buy” Rating Reaffirmed at UBS AG
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by investment analysts at UBS AG in a report issued on Monday, www.tipranks.com reports. They presently have a $180.00 price objective on the iPhone maker’s stock. UBS AG’s price target suggests a potential upside of 15.26% from the company’s previous close.
Other research analysts have also issued reports about the company. Oppenheimer Holdings, Inc. restated a “” rating on shares of Apple in a research report on Thursday, August 10th. Mizuho restated a “buy” rating on shares of Apple in a research report on Wednesday, July 12th. Bank of America Corporation restated a “buy” rating and issued a $180.00 price target on shares of Apple in a research report on Wednesday, July 12th. Canaccord Genuity restated a “buy” rating and issued a $180.00 price target on shares of Apple in a research report on Monday, July 10th. Finally, Credit Suisse Group restated a “buy” rating and issued a $170.00 price target on shares of Apple in a research report on Sunday, July 9th. Seven research analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the company. Apple currently has an average rating of “Buy” and an average target price of $190.67.
Shares of Apple (AAPL) traded down 0.05% during midday trading on Monday, hitting $156.17. The stock had a trading volume of 21,978,221 shares. Apple has a 52 week low of $104.08 and a 52 week high of $164.94. The stock has a market capitalization of $806.65 billion, a price-to-earnings ratio of 17.73 and a beta of 1.27. The stock has a 50 day moving average price of $157.09 and a 200-day moving average price of $152.10.
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 Zacks’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same period last year, the company earned $1.42 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Apple will post $9.01 earnings per share for the current year.
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In related news, SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the completion of the transaction, the senior vice president now owns 76,250 shares in the company, valued at $12,367,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold 541,177 shares of company stock valued at $85,864,804 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Berkshire Hathaway Inc. grew its holdings in Apple by 0.6% during the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock worth $18,750,246,000 after purchasing an additional 834,854 shares during the period. Capital Research Global Investors grew its holdings in Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after purchasing an additional 3,845,363 shares during the period. Legal & General Group Plc grew its holdings in Apple by 3.0% during the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock worth $3,759,849,000 after purchasing an additional 771,046 shares during the period. Janus Henderson Group PLC grew its holdings in Apple by 301.3% during the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after purchasing an additional 15,018,790 shares during the period. Finally, Swiss National Bank grew its holdings in Apple by 1.5% during the second quarter. Swiss National Bank now owns 19,169,416 shares of the iPhone maker’s stock worth $2,760,779,000 after purchasing an additional 275,400 shares during the period. Institutional investors and hedge funds own 60.33% 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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