Drexel Hamilton reaffirmed their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report report published on Tuesday. Drexel Hamilton currently has a $185.00 price objective on the iPhone maker’s stock.
AAPL has been the subject of a number of other reports. Robert W. Baird restated a buy rating on shares of Apple in a research report on Thursday, June 2nd. Piper Jaffray Cos. reiterated a buy rating and issued a $153.00 target price on shares of Apple in a research report on Wednesday, June 8th. Nomura reiterated a buy rating and issued a $120.00 target price on shares of Apple in a research report on Monday, May 23rd. RBC Capital Markets reiterated an outperform rating and issued a $115.00 target price on shares of Apple in a research report on Friday, August 5th. Finally, Vetr lowered shares of Apple from a hold rating to a sell rating and set a $103.98 target price for the company. in a research report on Monday, August 8th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, forty-two have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $126.89.
Apple (NASDAQ:AAPL) opened at 114.62 on Tuesday. Apple has a 12 month low of $89.47 and a 12 month high of $123.82. The company has a market capitalization of $617.62 billion, a price-to-earnings ratio of 13.37 and a beta of 1.14. The company’s 50-day moving average price is $108.86 and its 200 day moving average price is $102.48.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. During the same period in the previous year, the business earned $1.85 EPS. Apple’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, CEO Timothy D. Cook sold 334,000 shares of Apple stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.23, for a total value of $35,814,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction dated 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 completion of the sale, the senior vice president now owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of AAPL. Vanguard Group Inc. boosted its stake in shares of Apple by 0.4% in the second quarter. Vanguard Group Inc. now owns 331,395,817 shares of the iPhone maker’s stock worth $31,681,440,000 after buying an additional 1,408,642 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Apple by 3.1% in the first quarter. Geode Capital Management LLC now owns 48,165,627 shares of the iPhone maker’s stock worth $5,239,620,000 after buying an additional 1,458,142 shares during the last quarter. Norges Bank purchased a new stake in shares of Apple during the fourth quarter worth about $5,068,068,000. BlackRock Group LTD boosted its stake in shares of Apple by 1.6% in the second quarter. BlackRock Group LTD now owns 48,083,386 shares of the iPhone maker’s stock worth $4,596,772,000 after buying an additional 759,339 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock worth $3,991,635,000 after buying an additional 301,502 shares during the last quarter. Institutional investors own 56.45% 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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