Apple Inc. (AAPL) Rating Reiterated by KeyCorp
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by KeyCorp in a report issued on Friday. They currently have a $192.00 target price on the iPhone maker’s stock. KeyCorp’s price objective would suggest a potential upside of 11.30% from the company’s current price. KeyCorp also issued estimates for Apple’s Q2 2018 earnings at $3.00 EPS, Q4 2018 earnings at $2.48 EPS, Q1 2019 earnings at $3.71 EPS, Q4 2019 earnings at $2.49 EPS and FY2019 earnings at $11.29 EPS.
A number of other analysts also recently issued reports on the stock. Deutsche Bank AG reissued a “hold” rating and set a $152.00 price target on shares of Apple in a report on Friday. Canaccord Genuity reaffirmed a “buy” rating and set a $195.00 price objective (up from $180.00) on shares of Apple in a report on Friday. Morgan Stanley set a $200.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Friday. Nomura set a $185.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Friday. Finally, Sanford C. Bernstein set a $195.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $198.38.
Shares of Apple (NASDAQ:AAPL) traded up $4.39 during midday trading on Friday, reaching $172.50. 58,683,826 shares of the company were exchanged, compared to its average volume of 25,147,278. Apple has a 12-month low of $104.08 and a 12-month high of $174.26. The stock has a market capitalization of $891,001.81, a P/E ratio of 18.75, a PEG ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.39 and a quick ratio of 1.35.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.36%. The firm had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. During the same period in the prior year, the firm posted $1.50 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. equities analysts predict that Apple will post 11.11 earnings per share for the current fiscal year.
In other Apple news, 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 value of $5,515,300.00. Following the sale, the director now directly owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold 541,177 shares of company stock worth $85,864,804 over the last 90 days. 0.08% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Saratoga Research & Investment Management increased its position in Apple by 0.6% in the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after buying an additional 4,137 shares during the period. Pinnacle Bank acquired a new stake in Apple in the first quarter worth $1,924,000. Green Square Capital LLC increased its position in Apple by 6.7% in the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after buying an additional 5,491 shares during the period. Headinvest LLC increased its position in Apple by 2.5% in the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after buying an additional 390 shares during the period. Finally, Lederer & Associates Investment Counsel CA increased its position in Apple by 2.1% in the second quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock worth $5,377,000 after buying an additional 779 shares during the period. 60.33% of the stock is currently owned by hedge funds and other 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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