Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating restated by equities research analysts at Credit Suisse Group AG in a note issued to investors on Thursday. They presently have a $150.00 price objective on the iPhone maker’s stock. Credit Suisse Group AG’s price target points to a potential upside of 27.52% from the company’s current price.
Several other research firms have also recently issued reports on AAPL. Citigroup Inc. reiterated a “buy” rating and issued a $115.00 target price on shares of Apple in a research note on Wednesday, July 6th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $153.00 target price on shares of Apple in a research note on Tuesday, July 26th. Cowen and Company reiterated an “outperform” rating and issued a $125.00 target price on shares of Apple in a research note on Thursday, July 28th. BMO Capital Markets reiterated an “outperform” rating and issued a $140.00 target price (up from $116.00) on shares of Apple in a research note on Monday, September 19th. Finally, OTR Global upgraded shares of Apple to a “positive” rating in a research note on Wednesday, October 12th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Apple currently has an average rating of “Buy” and an average price target of $126.74.
Apple (NASDAQ:AAPL) opened at 117.63 on Thursday. The stock’s 50 day moving average is $111.56 and its 200-day moving average is $103.65. Apple has a one year low of $89.47 and a one year high of $123.82. The firm has a market cap of $633.84 billion, a price-to-earnings ratio of 13.72 and a beta of 1.22.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping 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 business had revenue of $42.36 billion for 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 business’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities research analysts expect that Apple will post $8.26 earnings per share for the current fiscal year.
In other Apple news, insider Daniel J. Riccio sold 22,381 shares of Apple stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total value of $2,530,395.86. Following the completion of the transaction, the insider now directly owns 47,043 shares of the company’s stock, valued at approximately $5,318,681.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 334,000 shares of Apple stock in a transaction dated Friday, August 26th. The shares were 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. 0.08% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AAPL. Penserra Capital Management LLC increased its position in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock valued at $103,000 after buying an additional 304 shares in the last quarter. Weaver C. Barksdale & Associates Inc. purchased a new position in Apple during the third quarter valued at $122,000. Delphi Private Advisors LLC increased its position in Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock valued at $140,000 after buying an additional 69 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in Apple during the second quarter valued at $143,000. Finally, River & Mercantile Asset Management LLP increased its position in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 334 shares in the last quarter. 56.46% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.