Piper Jaffray Cos. reissued their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a report released on Monday morning. Piper Jaffray Cos. currently has a $151.00 target price on the iPhone maker’s stock.
Other equities analysts have also recently issued reports about the stock. Vetr upgraded shares of Apple and set a $100.00 price target for the company in a research report on Thursday, July 14th. Drexel Hamilton restated a buy rating and issued a $185.00 price target on shares of Apple in a research report on Wednesday, June 8th. Bank of America Corp. restated a buy rating and issued a $120.00 price target on shares of Apple in a research report on Monday, June 6th. Citigroup Inc. restated a buy rating on shares of Apple in a research report on Tuesday, May 31st. Finally, XYZ Research began coverage on shares of Apple in a research report on Sunday, May 29th. They issued a buy rating and a $110.00 price target for the company. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $126.44.
Apple (NASDAQ:AAPL) opened at 112.88 on Monday. The firm has a 50-day moving average of $109.21 and a 200-day moving average of $102.67. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The company has a market capitalization of $608.25 billion, a PE ratio of 13.16 and a beta of 1.14.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm earned $42.36 billion during the quarter, compared to analysts’ expectations of $42.35 billion. During the same period in the prior year, the company posted $1.85 EPS. The company’s revenue was down 14.6% on a year-over-year basis. Equities analysts expect that Apple will post $8.26 earnings per share for the current fiscal year.
In related news, CEO Timothy D. Cook sold 334,000 shares of Apple stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $35,814,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $100.00, for a total value of $2,500,000.00. Following the transaction, the senior vice president now owns 105,839 shares of the company’s stock, valued at $10,583,900. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
Several hedge funds have recently bought and sold shares of AAPL. Abner Herrman & Brock LLC boosted its stake in Apple by 107.3% in the first quarter. Abner Herrman & Brock LLC now owns 9,416 shares of the iPhone maker’s stock worth $1,026,000 after buying an additional 4,874 shares during the period. Eqis Capital Management Inc. boosted its stake in Apple by 9.1% in the first quarter. Eqis Capital Management Inc. now owns 59,070 shares of the iPhone maker’s stock worth $6,438,000 after buying an additional 4,917 shares during the period. Union Bankshares Corp boosted its stake in Apple by 5.5% in the first quarter. Union Bankshares Corp now owns 44,768 shares of the iPhone maker’s stock worth $4,880,000 after buying an additional 2,334 shares during the period. Iowa State Bank boosted its stake in Apple by 1.6% in the first quarter. Iowa State Bank now owns 39,558 shares of the iPhone maker’s stock worth $4,311,000 after buying an additional 623 shares during the period. Finally, Kistler Tiffany Companies LLC boosted its stake in Apple by 13.3% in the first quarter. Kistler Tiffany Companies LLC now owns 27,294 shares of the iPhone maker’s stock worth $2,975,000 after buying an additional 3,198 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.
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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