Goldman Sachs Group Inc reaffirmed their positive rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note published on Wednesday. They currently have a $150.00 price target on the iPhone maker’s stock.
Several other brokerages also recently commented on AAPL. Citigroup Inc increased their price target on Apple from $140.00 to $160.00 and gave the company a buy rating in a report on Monday, March 6th. BMO Capital Markets reiterated an outperform rating and set a $160.00 price target on shares of Apple in a report on Monday, March 6th. Vetr downgraded Apple from a buy rating to a hold rating and set a $137.24 price target on the stock. in a report on Wednesday, March 1st. Stifel Nicolaus reiterated a hold rating and set a $130.00 price target on shares of Apple in a report on Friday, March 3rd. Finally, BlueFin Research reiterated a positive rating on shares of Apple in a report on Monday, March 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $140.24.
Shares of Apple (NASDAQ:AAPL) opened at 141.46 on Wednesday. The firm’s 50-day moving average is $134.83 and its 200 day moving average is $119.06. The stock has a market capitalization of $742.18 billion, a P/E ratio of 16.98 and a beta of 1.26. Apple has a 1-year low of $89.47 and a 1-year high of $141.50.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, January 31st. The iPhone maker reported $3.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.14. The business earned $78.35 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.28 earnings per share. On average, analysts expect that Apple will post $8.94 EPS for the current fiscal year.
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In related news, insider Johny Srouji sold 13,207 shares of Apple stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $136.37, for a total value of $1,801,038.59. Following the completion of the transaction, the insider now directly owns 98,012 shares of the company’s stock, valued at $13,365,896.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 30,000 shares of Apple stock in a transaction dated Thursday, January 19th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. The disclosure for this sale can be found here. Insiders sold 403,844 shares of company stock valued at $51,434,527 over the last ninety days. 0.08% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. Armbruster Capital Management Inc. raised its stake in shares of Apple by 35.1% in the third quarter. Armbruster Capital Management Inc. now owns 1,024 shares of the iPhone maker’s stock worth $116,000 after buying an additional 266 shares during the last quarter. Weaver C. Barksdale & Associates Inc. purchased a new stake in shares of Apple during the third quarter worth approximately $122,000. Glacier Peak Capital LLC purchased a new stake in shares of Apple during the fourth quarter worth approximately $127,000. D. Scott Neal Inc. raised its stake in shares of Apple by 701.3% in the third quarter. D. Scott Neal Inc. now owns 1,202 shares of the iPhone maker’s stock worth $136,000 after buying an additional 1,052 shares during the last quarter. Finally, Welch Investments LLC purchased a new stake in shares of Apple during the fourth quarter worth approximately $146,000. Hedge funds and other institutional investors 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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