Apple Inc. (AAPL) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report released on Friday. Royal Bank of Canada currently has a $155.00 price target on the iPhone maker’s stock.

A number of other brokerages also recently commented on AAPL. Bank of America Corp boosted their target price on shares of Apple from $125.00 to $140.00 and gave the stock a buy rating in a report on Thursday, January 19th. Guggenheim upped their price objective on shares of Apple from $150.00 to $180.00 and gave the company a buy rating in a report on Tuesday, February 28th. Credit Suisse Group AG restated an outperform rating and set a $150.00 price objective on shares of Apple in a report on Wednesday, February 1st. Drexel Hamilton restated a buy rating and set a $185.00 price objective on shares of Apple in a report on Friday, March 10th. Finally, Cowen and Company restated an outperform rating and set a $155.00 price objective (up previously from $135.00) on shares of Apple in a report on Thursday, March 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $142.40.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPL) traded up 0.1091% during trading on Friday, hitting $140.7935. 2,910,321 shares of the company were exchanged. The firm’s 50 day moving average price is $137.18 and its 200-day moving average price is $120.20. Apple has a 1-year low of $89.47 and a 1-year high of $142.80. The stock has a market capitalization of $738.68 billion, a PE ratio of 16.9020 and a beta of 1.26.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, January 31st. The iPhone maker reported $3.36 EPS for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.14. The business earned $78.35 billion during the quarter, compared to the consensus estimate of $77.37 billion. Apple had a net margin of 20.73% and a return on equity of 34.94%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.28 earnings per share. Equities analysts predict that Apple will post $8.94 EPS for the current year.

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In other news, CEO Timothy D. Cook sold 30,000 shares of the stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $120.00, for a total value of $3,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Johny Srouji sold 13,207 shares of the stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $136.37, for a total value of $1,801,038.59. Following the completion of the sale, the insider now owns 98,012 shares of the company’s stock, valued at approximately $13,365,896.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 403,844 shares of company stock valued at $51,434,527. Insiders own 0.08% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Lincoln Capital Corp bought a new stake in Apple during the fourth quarter worth about $1,086,000. Dodge & Cox bought a new stake in Apple during the fourth quarter worth about $1,725,000. Israel Discount Bank of New York GFN bought a new stake in Apple during the fourth quarter worth about $1,459,000. Access Financial Services Inc. bought a new stake in Apple during the fourth quarter worth about $261,000. Finally, Vident Investment Advisory LLC increased its position in shares of Apple by 82.2% in the fourth quarter. Vident Investment Advisory LLC now owns 11,392 shares of the iPhone maker’s stock worth $1,319,000 after buying an additional 5,139 shares in the last quarter. Institutional investors and hedge funds own 58.76% of the company’s stock.

About Apple

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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