Apple Inc. (AAPL) Given Average Recommendation of “Buy” by Brokerages
Apple Inc. (NASDAQ:AAPL) has been assigned a consensus recommendation of “Buy” from the fifty-three research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $198.96.
A number of brokerages recently weighed in on AAPL. Vetr upgraded shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 target price on the stock in a report on Friday, September 22nd. Rosenblatt Securities restated a “hold” rating and set a $150.00 target price on shares of Apple in a report on Sunday, October 15th. Citigroup restated a “buy” rating and set a $200.00 target price (up from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. UBS set a $190.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Monday, December 4th. Finally, Bank of America reaffirmed a “buy” rating and set a $180.00 price objective on shares of Apple in a research report on Tuesday, September 26th.
In related news, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip W. Schiller sold 56,808 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total transaction of $8,788,197.60. The disclosure for this sale can be found here. In the last three months, insiders sold 232,967 shares of company stock valued at $37,944,683. 0.08% of the stock is currently owned by company insiders.
Apple (AAPL) opened at $173.97 on Monday. The firm has a market cap of $893,216.25, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.39 and a beta of 1.22. Apple has a fifty-two week low of $114.76 and a fifty-two week high of $176.24. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73.
Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 earnings per share. analysts anticipate that Apple will post 11.18 EPS for the current year.
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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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