Apple Inc. (AAPL) Given Average Rating of “Buy” by Brokerages
Apple Inc. (NASDAQ:AAPL) has been given an average recommendation of “Buy” by the fifty-three analysts that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and forty-five have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $195.35.
Several brokerages have commented on AAPL. Vetr upgraded shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price objective for the company in a research note on Friday, September 22nd. Rosenblatt Securities restated a “hold” rating and set a $150.00 price objective on shares of Apple in a research note on Sunday, October 15th. Nomura reiterated a “buy” rating and issued a $165.00 target price on shares of Apple in a research note on Wednesday, July 5th. Bank of America Corporation reiterated a “buy” rating and issued a $180.00 target price on shares of Apple in a research note on Tuesday, September 26th. Finally, Pacific Crest upgraded shares of Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 target price for the company in a research note on Monday, October 16th.
In other news, SVP D Bruce Sewell sold 31,625 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $158.13, for a total value of $5,000,861.25. Following the transaction, the senior vice president now owns 112,430 shares of the company’s stock, valued at $17,778,555.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $157.58, for a total value of $5,515,300.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares in the company, valued at approximately $184,098,035.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 541,177 shares of company stock worth $85,864,804. Company insiders own 0.08% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Apple in the second quarter valued at approximately $400,000. Blue Sky Asset Management LLC bought a new stake in shares of Apple in the second quarter valued at approximately $108,000. FNY Managed Accounts LLC boosted its stake in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares during the period. Hefty Wealth Partners boosted its stake in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares during the period. Finally, American Beacon Advisors Inc. bought a new stake in shares of Apple in the first quarter valued at approximately $117,000. 60.32% of the stock is currently owned by institutional investors.
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Shares of Apple (NASDAQ:AAPL) opened at 163.05 on Friday. The firm’s 50-day moving average is $156.64 and its 200-day moving average is $152.61. Apple has a one year low of $104.08 and a one year high of $164.94. The stock has a market capitalization of $842.19 billion, a PE ratio of 18.51 and a beta of 1.27.
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 consensus estimate 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 period in the previous year, the business posted $1.42 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts expect that Apple will post $9.00 earnings per share for the current fiscal year.
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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