Shares of Apple Inc. (NASDAQ:AAPL) have been assigned a consensus rating of “Buy” from the fifty-seven research firms that are presently covering the company. Four research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, forty-two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $125.20.
A number of equities research analysts have issued reports on the stock. Raymond James Financial Inc. reiterated 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 objective on shares of Apple in a report on Sunday, July 17th. Brean Capital restated a “buy” rating on shares of Apple in a report on Wednesday. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $120.00 price objective on shares of Apple in a report on Friday, June 3rd.
In related news, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the completion of the sale, the senior vice president now owns 105,839 shares of the company’s stock, valued at $10,583,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Johny Srouji sold 9,827 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $108.44, for a total value of $1,065,639.88. Following the sale, the insider now directly owns 116,369 shares of the company’s stock, valued at approximately $12,619,054.36. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in AAPL. Cohen & Steers Inc. boosted its stake in Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock valued at $999,482,000 after buying an additional 22,303,795 shares in the last quarter. Magellan Asset Management Ltd boosted its stake in Apple by 56.9% in the second quarter. Magellan Asset Management Ltd now owns 15,294,140 shares of the iPhone maker’s stock valued at $1,462,120,000 after buying an additional 5,543,465 shares in the last quarter. Nordea Investment Management AB boosted its stake in Apple by 87.4% in the second quarter. Nordea Investment Management AB now owns 10,195,750 shares of the iPhone maker’s stock valued at $974,714,000 after buying an additional 4,755,361 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Apple during the first quarter valued at approximately $325,287,000. Finally, Franklin Resources Inc. boosted its stake in Apple by 20.2% in the second quarter. Franklin Resources Inc. now owns 17,027,764 shares of the iPhone maker’s stock valued at $1,627,849,000 after buying an additional 2,857,040 shares in the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.
Apple (NASDAQ:AAPL) traded up 0.44% on Wednesday, reaching $113.59. 18,580,163 shares of the company were exchanged. The stock has a market capitalization of $612.07 billion, a price-to-earnings ratio of 13.25 and a beta of 1.14. The stock has a 50-day moving average price of $109.35 and a 200 day moving average price of $102.74. Apple has a 52 week low of $89.47 and a 52 week high of $123.82.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The company had revenue of $42.36 billion for the quarter, compared to analyst estimates of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.85 EPS. Analysts forecast that Apple will post $8.26 earnings per share for the current year.
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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