Apple Inc. (AAPL) Receives “Outperform” Rating from Macquarie

Macquarie restated their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a report published on Monday morning. Macquarie currently has a $180.00 target price on the iPhone maker’s stock.

A number of other analysts also recently issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Apple from $157.00 to $168.00 and gave the company an outperform rating in a report on Monday, May 22nd. Morgan Stanley boosted their price objective on shares of Apple from $177.00 to $182.00 and gave the company an overweight rating in a report on Monday, July 17th. Needham & Company LLC reissued a buy rating and issued a $175.00 price objective (up previously from $165.00) on shares of Apple in a report on Wednesday, August 2nd. They noted that the move was a valuation call. Bank of America Corporation reissued a buy rating and issued a $180.00 price objective (up previously from $175.00) on shares of Apple in a report on Wednesday, August 2nd. Finally, Cleveland Research raised shares of Apple from a neutral rating to a buy rating and set a $197.00 price objective for the company in a report on Tuesday, August 29th. Eleven equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $169.30.

Shares of Apple (AAPL) traded down 0.06% on Monday, reaching $161.40. 4,716,276 shares of the company’s stock were exchanged. Apple has a 12 month low of $104.08 and a 12 month high of $164.94. The firm’s 50-day moving average price is $158.01 and its 200 day moving average price is $148.85. The company has a market cap of $833.67 billion, a price-to-earnings ratio of 18.32 and a beta of 1.27.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. Equities research analysts predict that Apple will post $9.02 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.

In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $142.86, for a total transaction of $1,707,034.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Johny Srouji sold 10,469 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the transaction, the senior vice president now owns 76,250 shares in the company, valued at approximately $12,367,750. The disclosure for this sale can be found here. Insiders have sold a total of 432,930 shares of company stock worth $69,008,577 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Thrivent Financial for Lutherans lifted its stake in shares of Apple by 17.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 3,410,059 shares of the iPhone maker’s stock worth $394,955,000 after purchasing an additional 506,780 shares during the period. Portland Hill Capital LLP bought a new position in shares of Apple in the 4th quarter worth approximately $17,909,000. Tortoise Investment Management LLC lifted its stake in shares of Apple by 1.7% in the 4th quarter. Tortoise Investment Management LLC now owns 10,806 shares of the iPhone maker’s stock worth $1,252,000 after purchasing an additional 178 shares during the period. Pacific Center for Financial Services bought a new position in shares of Apple in the 4th quarter worth approximately $1,098,000. Finally, Advantage Investment Management LLC bought a new position in shares of Apple in the 4th quarter worth approximately $4,209,000. Institutional investors and hedge funds own 60.45% of the company’s stock.

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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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