Apple Inc. (AAPL) Given “Outperform” Rating at Sanford C. Bernstein

Sanford C. Bernstein reissued their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note published on Monday. They currently have a $160.00 price target on the iPhone maker’s stock.

A number of other research analysts have also recently weighed in on AAPL. Guggenheim lifted 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. Drexel Hamilton restated a buy rating and issued a $185.00 price objective on shares of Apple in a report on Friday, March 10th. Cowen and Company restated an outperform rating and issued a $155.00 price objective (up previously from $135.00) on shares of Apple in a report on Thursday, March 16th. BMO Capital Markets restated an outperform rating and issued a $142.00 price objective on shares of Apple in a report on Thursday, February 16th. Finally, Royal Bank Of Canada restated an outperform rating and issued a $168.00 price objective on shares of Apple in a report on Tuesday, June 6th. Nine research analysts have rated the stock with a hold rating, forty have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $160.38.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPL) traded up 0.6503% during midday trading on Monday, reaching $146.3656. 5,707,651 shares of the company’s stock traded hands. Apple has a 1-year low of $91.50 and a 1-year high of $156.65. The firm’s 50-day moving average is $151.15 and its 200-day moving average is $134.55. The company has a market capitalization of $763.13 billion, a price-to-earnings ratio of 17.1710 and a beta of 1.28.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. Apple had a net margin of 20.74% and a return on equity of 35.09%. The business had revenue of $52.90 billion during the quarter, compared to analysts’ expectations of $52.61 billion. Analysts forecast that Apple will post $8.94 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 15th were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $2.52 dividend on an annualized basis and a yield of 1.73%. This is a positive change from Apple’s previous quarterly dividend of $0.57. Apple’s payout ratio is currently 29.47%.

In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $155.32, for a total value of $1,855,918.68. Following the transaction, the insider now owns 13,049 shares of the company’s stock, valued at $2,026,770.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP D Bruce Sewell sold 67,500 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $148.76, for a total value of $10,041,300.00. Following the completion of the transaction, the senior vice president now directly owns 141,325 shares in the company, valued at approximately $21,023,507. The disclosure for this sale can be found here. In the last three months, insiders sold 447,411 shares of company stock worth $67,200,745. Insiders own 0.08% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. American Beacon Advisors Inc. purchased a new position in shares of Apple during the first quarter valued at about $117,000. Glacier Peak Capital LLC purchased a new position in shares of Apple during the fourth quarter valued at about $127,000. TrimTabs Asset Management LLC raised its position in shares of Apple by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 921 shares of the iPhone maker’s stock valued at $132,000 after buying an additional 432 shares during the period. Welch Investments LLC purchased a new position in shares of Apple during the fourth quarter valued at about $146,000. Finally, Odey Holdings AG raised its position in shares of Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock valued at $147,000 after buying an additional 273 shares during the period. 62.06% of the stock is currently owned by institutional investors.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AAPL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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