Apple Inc. (NASDAQ:AAPL) – Credit Agricole SA upped their Q1 2017 EPS estimates for Apple in a research note issued on Friday. Credit Agricole SA analyst A. Silver now forecasts that the brokerage will post earnings per share of $3.36 for the quarter, up from their previous estimate of $3.20. Credit Agricole SA currently has a “Buy” rating and a $130.00 price target on the stock. Credit Agricole SA also issued estimates for Apple’s Q2 2017 earnings at $2.09 EPS, Q3 2017 earnings at $1.67 EPS, Q4 2017 earnings at $1.90 EPS and FY2017 earnings at $9.03 EPS.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.04. The company had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. Apple’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 EPS.
Other equities research analysts have also recently issued reports about the stock. Raymond James Financial Inc. restated a “hold” rating on shares of Apple in a report on Saturday, July 9th. Barclays PLC restated a “buy” rating on shares of Apple in a report on Sunday, July 17th. Credit Suisse Group AG restated a “buy” rating and issued a $150.00 price target on shares of Apple in a report on Sunday, July 17th. Brean Capital restated a “buy” rating and issued a $125.00 price target on shares of Apple in a report on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Apple in a report on Thursday, August 11th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the company. Apple has a consensus rating of “Buy” and a consensus price target of $126.34.
Shares of Apple (NASDAQ:AAPL) traded down 0.4226% during midday trading on Monday, hitting $113.0901. 4,711,431 shares of the stock were exchanged. Apple has a 1-year low of $89.47 and a 1-year high of $123.82. The stock has a market capitalization of $609.38 billion, a price-to-earnings ratio of 13.1868 and a beta of 1.14. The firm’s 50 day moving average is $108.35 and its 200-day moving average is $102.31.
A number of large investors have recently bought and sold shares of AAPL. Zurich Insurance Group Ltd FI boosted its stake in Apple by 1.4% in the first quarter. Zurich Insurance Group Ltd FI now owns 869,381 shares of the iPhone maker’s stock valued at $94,754,000 after buying an additional 11,582 shares during the last quarter. Roffman Miller Associates Inc. PA boosted its stake in Apple by 25.0% in the second quarter. Roffman Miller Associates Inc. PA now owns 139,953 shares of the iPhone maker’s stock valued at $13,380,000 after buying an additional 28,020 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Apple by 19.1% in the second quarter. Capstone Asset Management Co. now owns 550,349 shares of the iPhone maker’s stock valued at $52,613,000 after buying an additional 88,106 shares during the last quarter. Prudential Financial Inc. boosted its stake in Apple by 1.0% in the first quarter. Prudential Financial Inc. now owns 12,655,593 shares of the iPhone maker’s stock valued at $1,379,333,000 after buying an additional 127,360 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in Apple by 3.3% in the first quarter. BlackRock Group LTD now owns 47,324,047 shares of the iPhone maker’s stock valued at $5,157,847,000 after buying an additional 1,498,288 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.
In related news, SVP Daniel J. Riccio sold 49,996 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $105.95, for a total transaction of $5,297,076.20. Following the completion of the sale, the senior vice president now owns 67,143 shares in the company, valued at $7,113,800.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $107.23, for a total value of $35,814,820.00. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
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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