Apple Inc. (NASDAQ:AAPL) had its price objective lifted by Pacific Crest from $121.00 to $129.00 in a report published on Thursday. Pacific Crest currently has an overweight rating on the iPhone maker’s stock.
Other research analysts also recently issued research reports about the company. Raymond James Financial Inc. reissued a hold rating on shares of Apple in a research note on Saturday, July 9th. Barclays PLC reissued a buy rating on shares of Apple in a research note on Sunday, July 17th. Credit Suisse Group AG reissued a buy rating and set a $150.00 target price on shares of Apple in a research note on Sunday, July 17th. Brean Capital restated a buy rating and set a $125.00 price target on shares of Apple in a report on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. restated a market perform rating on shares of Apple in a report on Thursday, August 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, forty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $127.11.
Shares of Apple (NASDAQ:AAPL) opened at 117.47 on Thursday. The company has a 50 day moving average of $112.17 and a 200-day moving average of $103.69. The firm has a market capitalization of $632.98 billion, a P/E ratio of 13.70 and a beta of 1.22. Apple has a 12 month low of $89.47 and a 12 month high of $123.82.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.04. The firm earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.85 earnings per share. Analysts predict that Apple will post $8.26 EPS for the current year.
In related news, CEO Timothy D. Cook sold 110,000 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $105.95, for a total value of $11,654,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 43,769 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $112.59, for a total value of $4,927,951.71. Following the completion of the transaction, the chief operating officer now owns 90,657 shares of the company’s stock, valued at approximately $10,207,071.63. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of AAPL. Cohen & Steers Inc. raised its position in shares of Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock worth $999,482,000 after buying an additional 22,303,795 shares during the period. Magellan Asset Management Ltd raised its position in shares of Apple by 56.9% in the second quarter. Magellan Asset Management Ltd now owns 15,294,140 shares of the iPhone maker’s stock worth $1,462,120,000 after buying an additional 5,543,465 shares during the period. Nordea Investment Management AB raised its position in shares of Apple by 87.4% in the second quarter. Nordea Investment Management AB now owns 10,195,750 shares of the iPhone maker’s stock worth $974,714,000 after buying an additional 4,755,361 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in shares of Apple during the first quarter worth about $325,287,000. Finally, Franklin Resources Inc. raised its position in shares of Apple by 20.2% in the second quarter. Franklin Resources Inc. now owns 17,027,764 shares of the iPhone maker’s stock worth $1,627,849,000 after buying an additional 2,857,040 shares during the period. Institutional investors own 56.41% 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.
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.