Guggenheim Reaffirms “Buy” Rating for Apple Inc. (AAPL)

Guggenheim reissued their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a report released on Thursday. Guggenheim currently has a $180.00 price target on the iPhone maker’s stock.

Other equities analysts also recently issued reports about the company. Raymond James Financial, Inc. reissued an outperform rating and set 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 reissued a buy rating and set a $150.00 target price on shares of Apple in a research note on Wednesday, April 12th. Rosenblatt Securities reissued a neutral rating and set a $120.00 target price on shares of Apple in a research note on Monday, April 17th. FBN Securities increased their target price on Apple from $155.00 to $160.00 and gave the stock an outperform rating in a research note on Thursday, May 4th. Finally, BMO Capital Markets reissued an outperform rating and set a $170.00 target price (up from $160.00) on shares of Apple in a research note on Wednesday, May 17th. Eight equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $159.94.

Shares of Apple (AAPL) opened at 154.45 on Thursday. The firm has a 50-day moving average price of $150.05 and a 200 day moving average price of $133.54. The firm has a market capitalization of $805.28 billion, a price-to-earnings ratio of 18.12 and a beta of 1.26. Apple has a one year low of $91.50 and a one year high of $156.65.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.08. The business had revenue of $52.90 billion during the quarter, compared to the consensus estimate of $52.61 billion. Apple had a return on equity of 33.20% and a net margin of 20.85%. Equities analysts forecast that Apple will post $8.94 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were issued a dividend of $0.63 per share. This is a boost from Apple’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, May 11th. This represents a $2.52 annualized dividend and a yield of 1.63%. Apple’s payout ratio is presently 27.31%.

In related news, insider Philip W. Schiller sold 47,796 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $143.32, for a total transaction of $6,850,122.72. Following the sale, the insider now owns 94,010 shares of the company’s stock, valued at $13,473,513.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Luca Maestri sold 6,308 shares of the business’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $141.83, for a total value of $894,663.64. Following the sale, the insider now directly owns 2,665 shares in the company, valued at approximately $377,976.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 435,462 shares of company stock worth $65,344,827. 0.08% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in AAPL. American Beacon Advisors Inc. purchased a new stake in shares of Apple during the first quarter valued at approximately $117,000. Glacier Peak Capital LLC purchased a new stake in shares of Apple during the fourth quarter valued at approximately $127,000. TrimTabs Asset Management LLC boosted its stake 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 last quarter. Welch Investments LLC purchased a new stake in shares of Apple during the fourth quarter valued at approximately $146,000. Finally, Odey Holdings AG boosted its stake 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 last quarter. 58.76% of the stock is currently owned by hedge funds and other institutional investors.

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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