Apple Inc. (NASDAQ:AAPL) – Equities research analysts at Credit Agricole SA raised their FY2018 earnings per share (EPS) estimates for shares of Apple in a note issued to investors on Friday. Credit Agricole SA analyst A. Silver now anticipates that the firm will post earnings per share of $10.27 for the year, up from their previous forecast of $9.94. Credit Agricole SA has a “Buy” rating and a $130.00 price target on the stock.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The firm earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. Apple’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.85 EPS.
AAPL has been the subject of several other research reports. RBC Capital Markets reaffirmed an “outperform” rating and set a $115.00 target price on shares of Apple in a research note on Friday, August 5th. Vetr lowered shares of Apple from a “hold” rating to a “sell” rating and set a $103.98 target price for the company. in a research note on Monday, August 8th. Wells Fargo & Co. reaffirmed a “market perform” rating on shares of Apple in a research note on Friday, September 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $116.00 target price (down previously from $118.00) on shares of Apple in a research note on Thursday, July 21st. Finally, Macquarie reaffirmed an “outperform” rating and set a $115.00 target price on shares of Apple in a research note on Friday, August 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, forty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $127.11.
Apple (NASDAQ:AAPL) traded up 0.03% on Monday, hitting $117.58. 19,785,922 shares of the company traded hands. The stock’s 50-day moving average is $111.86 and its 200 day moving average is $103.64. The firm has a market capitalization of $633.57 billion, a P/E ratio of 13.71 and a beta of 1.22. Apple has a 12 month low of $89.47 and a 12 month high of $123.82.
Institutional investors have recently added to or reduced their stakes in the stock. Cohen & Steers Inc. increased 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 valued at $999,482,000 after buying an additional 22,303,795 shares in the last quarter. Magellan Asset Management Ltd increased its stake in shares of 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 in the last quarter. Nordea Investment Management AB increased its stake in shares of 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 in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Apple during the first quarter valued at about $325,287,000. Finally, Franklin Resources Inc. increased its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 56.41% of the company’s stock.
In related news, COO Jeffrey E. Williams sold 43,769 shares of the stock in a transaction on Monday, October 3rd. The stock was 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 owns 90,657 shares in the company, valued at approximately $10,207,071.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $107.23, for a total value of $35,814,820.00. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.
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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