Piper Jaffray Cos. reiterated their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a report released on Monday. Piper Jaffray Cos. currently has a $151.00 price objective on the iPhone maker’s stock.
AAPL has been the topic of several other reports. Drexel Hamilton reiterated a buy rating and set a $185.00 target price on shares of Apple in a research report on Wednesday, September 14th. Canaccord Genuity reiterated a buy rating and set a $140.00 target price (up from $120.00) on shares of Apple in a research report on Monday, September 12th. Nomura lifted their target price on Apple from $120.00 to $135.00 and gave the company a buy rating in a research report on Thursday, September 22nd. Mizuho reiterated a buy rating and set a $120.00 target price on shares of Apple in a research report on Thursday, September 1st. Finally, Wells Fargo & Co. reiterated a market perform rating on shares of Apple in a research report on Friday, September 9th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-two have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $125.93.
Shares of Apple (NASDAQ:AAPL) opened at 112.18 on Monday. The company has a 50-day moving average price of $109.61 and a 200 day moving average price of $102.89. The firm has a market capitalization of $604.48 billion, a price-to-earnings ratio of 13.08 and a beta of 1.14. Apple has a 1-year low of $89.47 and a 1-year high of $123.82.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The firm had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the business posted $1.85 EPS. On average, equities research analysts predict that Apple will post $8.26 EPS for the current year.
In related news, CEO Timothy D. Cook sold 334,000 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $107.23, for a total value of $35,814,820.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel J. Riccio sold 22,381 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total transaction of $2,530,395.86. Following the completion of the sale, the insider now directly owns 47,043 shares in the company, valued at approximately $5,318,681.58. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its stake in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares during the period. Delphi Private Advisors LLC boosted its stake in Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in Apple during the second quarter worth $143,000. River & Mercantile Asset Management LLP boosted its stake in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares during the period. Finally, Roble Belko & Company Inc boosted its stake in Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock worth $172,000 after buying an additional 680 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.