Apple (AAPL) Rating Reiterated by Citigroup
Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by equities researchers at Citigroup in a research note issued on Wednesday. They currently have a $200.00 target price on the iPhone maker’s stock. Citigroup’s price objective indicates a potential upside of 16.10% from the stock’s previous close.
A number of other research firms also recently commented on AAPL. Barclays reaffirmed a “hold” rating and set a $146.00 target price on shares of Apple in a report on Monday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $180.00 target price on shares of Apple in a report on Monday, September 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $194.00 target price (up previously from $182.00) on shares of Apple in a report on Tuesday, September 12th. Mizuho set a $160.00 target price on Apple and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, Vetr downgraded Apple from a “buy” rating to a “hold” rating and set a $178.34 target price on the stock. in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $197.57.
Shares of Apple (AAPL) traded up $0.57 on Wednesday, reaching $172.27. The company had a trading volume of 23,803,989 shares, compared to its average volume of 27,231,949. The stock has a market capitalization of $886,541.63, a P/E ratio of 18.77, a P/E/G ratio of 1.38 and a beta of 1.22. Apple has a 1 year low of $114.76 and a 1 year high of $176.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23.
In related news, insider Philip W. Schiller sold 56,808 shares of Apple stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total transaction of $8,788,197.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction on Thursday, October 5th. The shares were 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. In the last ninety days, insiders sold 232,967 shares of company stock valued at $37,944,683. 0.08% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Sky Asset Management LLC bought a new position in Apple during the second quarter valued at about $108,000. Hefty Wealth Partners raised its holdings in Apple by 27.6% during 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 in the last quarter. FNY Managed Accounts LLC raised its holdings in Apple by 852.4% during 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 in the last quarter. Private Vista LLC bought a new position in Apple during the second quarter valued at about $122,000. Finally, Armbruster Capital Management Inc. raised its holdings in Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after buying an additional 78 shares in the last quarter. 59.78% of the stock is owned by hedge funds and other institutional investors.
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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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