Apple Inc. (AAPL) Lifted to “Positive” at OTR Global

OTR Global upgraded shares of Apple Inc. (NASDAQ:AAPL) to a positive rating in a report issued on Wednesday morning.

A number of other brokerages also recently weighed in on AAPL. Piper Jaffray Cos. restated an overweight rating and set a $153.00 price objective on shares of Apple in a research report on Tuesday, July 26th. Credit Suisse Group AG restated an outperform rating and set a $150.00 price objective on shares of Apple in a research report on Thursday, September 15th. Goldman Sachs Group Inc. restated a buy rating and set a $124.00 price objective on shares of Apple in a research report on Wednesday, October 12th. Citigroup Inc. increased their price objective on shares of Apple from $120.00 to $130.00 and gave the company a buy rating in a research report on Friday, September 30th. Finally, Needham & Company LLC restated a buy rating and set a $150.00 price objective on shares of Apple in a research report on Wednesday, July 20th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-three have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $126.74.

Apple (NASDAQ:AAPL) opened at 117.55 on Wednesday. Apple has a 52-week low of $89.47 and a 52-week high of $123.82. The stock’s 50 day moving average is $111.86 and its 200-day moving average is $103.64. The stock has a market capitalization of $633.41 billion, a price-to-earnings ratio of 13.71 and a beta of 1.22.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. During the same quarter in the prior year, the company posted $1.85 earnings per share. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities research analysts anticipate that Apple will post $8.26 EPS for the current fiscal year.

In other Apple news, insider Daniel J. Riccio sold 22,381 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 47,043 shares of the company’s stock, valued at $5,318,681.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 43,769 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $112.59, for a total value of $4,927,951.71. Following the completion of the transaction, the chief operating officer now directly owns 90,657 shares of the company’s stock, valued at $10,207,071.63. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. Vanguard Group Inc. boosted its position in Apple by 0.4% in the second quarter. Vanguard Group Inc. now owns 331,395,817 shares of the iPhone maker’s stock worth $31,681,440,000 after buying an additional 1,408,642 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Apple by 1.6% in the second quarter. BlackRock Group LTD now owns 48,083,386 shares of the iPhone maker’s stock worth $4,596,772,000 after buying an additional 759,339 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock worth $3,991,635,000 after buying an additional 301,502 shares during the period. Legal & General Group Plc raised its stake in shares of Apple by 2.6% in the second quarter. Legal & General Group Plc now owns 24,474,691 shares of the iPhone maker’s stock worth $2,339,700,000 after buying an additional 625,760 shares during the period. Finally, Cohen & Steers Inc. raised its stake in shares of Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock worth $999,482,000 after buying an additional 22,303,795 shares during the period. 56.41% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:AAPL

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