Apple Inc. (NASDAQ:AAPL) had its target price increased by Royal Bank Of Canada from $120.00 to $125.00 in a report released on Thursday morning. Royal Bank Of Canada currently has an outperform rating on the iPhone maker’s stock.
A number of other analysts have also commented on AAPL. Morgan Stanley set a $120.00 price objective on shares of Apple and gave the company a buy rating in a research note on Wednesday, May 25th. B. Riley reiterated a buy rating on shares of Apple in a report on Thursday, May 26th. OTR Global reiterated a sell rating and issued a $90.00 target price on shares of Apple in a report on Friday, May 27th. XYZ Research began coverage on Apple in a report on Sunday, May 29th. They issued a buy rating and a $110.00 target price on the stock. Finally, Citigroup Inc. reiterated a buy rating on shares of Apple in a report on Tuesday, May 31st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the company. Apple currently has an average rating of Buy and a consensus price target of $126.44.
Shares of Apple (NASDAQ:AAPL) opened at 112.88 on Thursday. The firm has a market cap of $608.25 billion, a PE ratio of 13.16 and a beta of 1.14. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The company has a 50 day moving average of $109.21 and a 200 day moving average of $102.67.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 EPS 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 company earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. During the same period in the prior year, the firm earned $1.85 earnings per share. The business’s quarterly revenue was down 14.6% on a year-over-year basis. On average, equities research analysts anticipate that Apple will post $8.26 EPS for the current fiscal year.
In other news, insider Johny Srouji sold 9,827 shares of Apple stock in a transaction 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 completion of the transaction, the insider now directly owns 116,369 shares in the company, valued at $12,619,054.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction on 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 transaction, the senior vice president now owns 105,839 shares of the company’s stock, valued at $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in AAPL. Penserra Capital Management LLC boosted its position in shares of 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 during the period. Delphi Private Advisors LLC boosted its position in shares of 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 during the period. Hussman Strategic Advisors Inc. bought a new position in shares of Apple during the second quarter valued at $143,000. River & Mercantile Asset Management LLP boosted its position in shares of 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 during the period. Finally, Roble Belko & Company Inc boosted its position in shares of Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 680 shares during the period. 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.
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.