Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by analysts at UBS AG in a research note issued on Tuesday. They presently have a $180.00 target price on the iPhone maker’s stock. UBS AG’s price target indicates a potential upside of 11.46% from the company’s previous close.
Several other research analysts have also recently issued reports on AAPL. Argus restated an “outperform” rating and issued a $160.00 target price on shares of Apple in a report on Monday, May 15th. Hilliard Lyons raised their target price on shares of Apple from $147.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Canaccord Genuity restated a “buy” rating and issued a $180.00 target price (up previously from $165.00) on shares of Apple in a report on Tuesday, May 16th. BMO Capital Markets restated an “outperform” rating and issued a $170.00 target price (up previously from $160.00) on shares of Apple in a report on Wednesday, May 17th. Finally, Morgan Stanley restated an “overweight” rating and issued a $177.00 target price (up previously from $161.00) on shares of Apple in a report on Wednesday, May 17th. Eleven investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. Apple currently has an average rating of “Buy” and an average target price of $169.30.
Apple (NASDAQ AAPL) traded up 0.7599% during midday trading on Tuesday, reaching $162.7272. 36,754,697 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 stock has a market cap of $840.52 billion, a PE ratio of 18.4749 and a beta of 1.27. The firm has a 50 day moving average of $158.02 and a 200-day moving average of $148.85.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same period last year, the business earned $1.42 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts predict that Apple will post $9.02 earnings per share for the current year.
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In other Apple news, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Craig Federighi sold 63,163 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $158.07, for a total value of $9,984,175.41. Following the sale, the insider now owns 359,988 shares in the company, valued at approximately $56,903,303.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 432,930 shares of company stock worth $69,008,577. Insiders own 0.08% of the company’s stock.
Large investors have recently made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. acquired a new stake in Apple during the 2nd quarter valued at $400,000. Blue Sky Asset Management LLC acquired a new stake in Apple during the 2nd quarter valued at $108,000. FNY Managed Accounts LLC grew its holdings in Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares during the last quarter. Hefty Wealth Partners grew its holdings in Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares during the last quarter. Finally, American Beacon Advisors Inc. acquired a new stake in Apple during the 1st quarter valued at $117,000. Hedge funds and other institutional investors own 60.45% 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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