Apple Inc. (AAPL) Rating Reiterated by Drexel Hamilton

Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by research analysts at Drexel Hamilton in a report released on Tuesday. They presently have a $202.00 price target on the iPhone maker’s stock. Drexel Hamilton’s target price indicates a potential upside of 39.16% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $159.00 target price (up from $152.00) on shares of Apple in a research note on Monday, April 3rd. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $150.00 target price on shares of Apple in a research note on Wednesday, April 12th. Rosenblatt Securities reissued a “neutral” rating and issued a $120.00 target price on shares of Apple in a research note on Monday, April 17th. FBN Securities boosted their target price on Apple from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $130.00 target price on shares of Apple in a research note on Tuesday, June 6th. Nine analysts have rated the stock with a hold rating, forty have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $160.63.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Shares of Apple (NASDAQ AAPL) opened at 145.16 on Tuesday. The stock has a market capitalization of $756.84 billion, a P/E ratio of 17.03 and a beta of 1.28. The company has a 50-day moving average price of $151.25 and a 200 day moving average price of $134.88. Apple has a 52 week low of $91.50 and a 52 week high of $156.65.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The firm 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 fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were given a $0.63 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.74%. Apple’s payout ratio is 29.47%.

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In related news, insider Philip W. Schiller sold 47,796 shares of the company’s stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $143.32, for a total value of $6,850,122.72. Following the completion of the transaction, the insider now directly owns 94,010 shares in the company, valued at $13,473,513.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Luca Maestri sold 6,308 shares of the company’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $141.83, for a total transaction of $894,663.64. Following the completion of the transaction, the insider now owns 2,665 shares of the company’s stock, valued at $377,976.95. The disclosure for this sale can be found here. Insiders sold 447,411 shares of company stock valued at $67,200,745 over the last quarter. 0.08% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BSC Private Wealth Management LLC raised its stake in Apple by 48.0% in the third quarter. BSC Private Wealth Management LLC now owns 20,713 shares of the iPhone maker’s stock valued at $2,341,000 after buying an additional 6,714 shares during the last quarter. Cutler Investment Counsel LLC raised its stake in Apple by 53.0% in the third quarter. Cutler Investment Counsel LLC now owns 4,011 shares of the iPhone maker’s stock valued at $453,000 after buying an additional 1,390 shares during the last quarter. RWC Asset Management LLP acquired a new stake in Apple during the third quarter valued at about $6,445,000. Efficient Advisors LLC acquired a new stake in Apple during the third quarter valued at about $367,000. Finally, Auxier Asset Management raised its stake in Apple by 0.7% in the third quarter. Auxier Asset Management now owns 7,555 shares of the iPhone maker’s stock valued at $854,000 after buying an additional 50 shares during the last quarter. Institutional investors own 62.06% 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.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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