Apple Inc. (NASDAQ:AAPL) had its price objective lifted by Instinet from $135.00 to $165.00 in a research report report published on Friday. Instinet currently has a buy rating on the iPhone maker’s stock.
Several other research analysts have also recently weighed in on the stock. Nomura restated a buy rating and issued a $135.00 price objective on shares of Apple in a research report on Thursday. Goldman Sachs Group Inc set a $150.00 price objective on shares of Apple and gave the stock a buy rating in a research report on Wednesday, March 22nd. JPMorgan Chase & Co. restated an overweight rating and issued a $142.00 price objective on shares of Apple in a research report on Tuesday, March 21st. Sanford C. Bernstein boosted their price objective on shares of Apple from $140.00 to $160.00 and gave the stock an outperform rating in a research report on Tuesday, March 21st. Finally, Piper Jaffray Companies restated an overweight rating and issued a $155.00 price objective on shares of Apple in a research report on Monday, March 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $142.40.
Shares of Apple (NASDAQ:AAPL) traded up 0.1091% during mid-day trading on Friday, hitting $140.7935. The stock had a trading volume of 2,910,232 shares. Apple has a 12-month low of $89.47 and a 12-month high of $142.80. The stock has a market capitalization of $738.68 billion, a price-to-earnings ratio of 16.9020 and a beta of 1.26. The stock’s 50-day moving average price is $137.18 and its 200-day moving average price is $120.20.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, January 31st. The iPhone maker reported $3.36 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.14. Apple had a net margin of 20.73% and a return on equity of 34.94%. The firm earned $78.35 billion during the quarter, compared to analysts’ expectations of $77.37 billion. During the same quarter in the previous year, the company posted $3.28 EPS. Apple’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Apple will post $8.94 EPS for the current fiscal year.
In related news, CEO Timothy D. Cook sold 30,000 shares of the business’s stock in a transaction dated Thursday, January 19th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Johny Srouji sold 13,207 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $136.37, for a total transaction of $1,801,038.59. Following the transaction, the insider now owns 98,012 shares in the company, valued at $13,365,896.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 403,844 shares of company stock worth $51,434,527. 0.08% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Armbruster Capital Management Inc. boosted its position in Apple by 35.1% in the third quarter. Armbruster Capital Management Inc. now owns 1,024 shares of the iPhone maker’s stock valued at $116,000 after buying an additional 266 shares during the period. Weaver C. Barksdale & Associates Inc. purchased a new position in Apple during the third quarter valued at $122,000. Glacier Peak Capital LLC purchased a new position in Apple during the fourth quarter valued at $127,000. D. Scott Neal Inc. boosted its position in Apple by 701.3% in the third quarter. D. Scott Neal Inc. now owns 1,202 shares of the iPhone maker’s stock valued at $136,000 after buying an additional 1,052 shares during the period. Finally, Welch Investments LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $146,000. Institutional investors and hedge funds own 58.76% 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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