Several other equities analysts have also recently weighed in on AAPL. Raymond James Financial Inc. reiterated a hold rating on shares of Apple in a research report on Saturday, July 9th. Barclays PLC reissued a buy rating on shares of Apple in a research note on Sunday, July 17th. Credit Suisse Group AG reissued a buy rating and set a $150.00 price objective on shares of Apple in a research note on Sunday, July 17th. Royal Bank Of Canada reissued an outperform rating and set a $120.00 price objective on shares of Apple in a research note on Friday, June 3rd. Finally, Sanford C. Bernstein reissued an outperform rating and set a $135.00 price objective on shares of Apple in a research note on Wednesday, June 1st. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, forty-one 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 $126.13.
Apple (NASDAQ:AAPL) opened at 112.52 on Wednesday. Apple has a one year low of $89.47 and a one year high of $123.82. The firm has a market cap of $606.31 billion, a PE ratio of 13.12 and a beta of 1.22. The firm has a 50-day moving average price of $109.88 and a 200-day moving average price of $102.98.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.04. The company earned $42.36 billion during the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 earnings per share. On average, equities analysts expect that Apple will post $8.26 EPS for the current fiscal year.
In other Apple news, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the sale, the senior vice president now owns 105,839 shares in the company, valued at approximately $10,583,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel J. Riccio sold 22,381 shares of the stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total value of $2,530,395.86. Following the completion of the sale, the insider now owns 47,043 shares of the company’s stock, valued at approximately $5,318,681.58. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the company. Cohen & Steers Inc. increased its position in Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock valued at $999,482,000 after buying an additional 22,303,795 shares during the period. Magellan Asset Management Ltd increased its position in Apple by 56.9% in the second quarter. Magellan Asset Management Ltd now owns 15,294,140 shares of the iPhone maker’s stock valued at $1,462,120,000 after buying an additional 5,543,465 shares during the period. Nordea Investment Management AB increased its position in Apple by 87.4% in the second quarter. Nordea Investment Management AB now owns 10,195,750 shares of the iPhone maker’s stock valued at $974,714,000 after buying an additional 4,755,361 shares during the period. NN Investment Partners Holdings N.V. bought a new position in Apple during the first quarter valued at approximately $325,287,000. Finally, Franklin Resources Inc. increased its position in Apple by 20.2% in the second quarter. Franklin Resources Inc. now owns 17,027,764 shares of the iPhone maker’s stock valued at $1,627,849,000 after buying an additional 2,857,040 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.
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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