Piper Jaffray Cos. reissued their overweight rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note released on Tuesday morning. The brokerage currently has a $151.00 target price on the iPhone maker’s stock.
Several other research firms also recently weighed in on AAPL. Citigroup Inc. reaffirmed a buy rating and issued a $115.00 price target on shares of Apple in a research note on Wednesday, July 6th. Cowen and Company reiterated an outperform rating and set a $125.00 price objective on shares of Apple in a report on Thursday, July 28th. BMO Capital Markets reiterated an outperform rating and set a $140.00 price objective (up from $116.00) on shares of Apple in a report on Monday, September 19th. BTIG Research lifted their price objective on shares of Apple from $124.00 to $133.00 and gave the company a buy rating in a report on Thursday, September 15th. Finally, Brean Capital reiterated a buy rating on shares of Apple in a report on Wednesday, September 28th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, forty-one have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $126.13.
Apple (NASDAQ:AAPL) opened at 114.06 on Tuesday. The company has a market capitalization of $614.61 billion, a PE ratio of 13.30 and a beta of 1.22. Apple has a 12-month low of $89.47 and a 12-month high of $123.82. The firm has a 50-day moving average of $110.36 and a 200 day moving average of $103.24.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating the 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 the consensus estimate of $42.35 billion. During the same period in the previous year, the firm posted $1.85 earnings per share. The business’s revenue was down 14.6% compared to the same quarter last year. Analysts forecast that Apple will post $8.26 EPS for the current fiscal year.
In other Apple news, insider Daniel J. Riccio sold 22,381 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $113.06, for a total transaction of $2,530,395.86. Following the sale, the insider now owns 47,043 shares in the company, valued at approximately $5,318,681.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 43,769 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $112.59, for a total transaction of $4,927,951.71. Following the sale, the chief operating officer now owns 90,657 shares in the company, valued at approximately $10,207,071.63. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its stake in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares during the last quarter. Delphi Private Advisors LLC boosted its stake in Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Apple during the second quarter worth approximately $143,000. River & Mercantile Asset Management LLP boosted its stake 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 worth $172,000 after buying an additional 334 shares during the last quarter. Finally, Roble Belko & Company Inc boosted its stake in Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock worth $172,000 after buying an additional 680 shares during the last quarter. Institutional investors 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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