Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by stock analysts at Drexel Hamilton in a research note issued to investors on Wednesday. They currently have a $208.00 price target on the iPhone maker’s stock. Drexel Hamilton’s target price would suggest a potential upside of 29.34% from the stock’s current price.
AAPL has been the topic of a number of other reports. UBS AG reiterated a “buy” rating and issued a $170.00 price objective on shares of Apple in a report on Monday, July 31st. Wells Fargo & Company reiterated a “market perform” rating and issued a $140.00 price objective on shares of Apple in a report on Saturday, July 22nd. KeyCorp reissued an “equal weight” rating on shares of Apple in a research report on Friday, August 4th. Goldman Sachs Group, Inc. (The) set a $170.00 target price on Apple and gave the company a “buy” rating in a research report on Saturday, May 20th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $177.00 target price on shares of Apple in a research report on Friday, June 16th. Eleven investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $169.52.
Shares of Apple (NASDAQ AAPL) opened at 160.86 on Wednesday. The stock has a market capitalization of $830.88 billion, a P/E ratio of 18.26 and a beta of 1.27. The stock has a 50 day moving average price of $158.11 and a 200 day moving average price of $148.94. Apple has a one year low of $104.08 and a one year high of $164.94.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the previous year, the firm posted $1.42 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts forecast that Apple will post $9.02 earnings per share for the current year.
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In other news, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the completion of the sale, the director now directly owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 432,930 shares of company stock valued at $69,008,577. Company insiders own 0.08% of the company’s stock.
Several large investors have recently modified their holdings of the company. Pinnacle Family Advisors LLC lifted its stake in shares of Apple by 17.8% in the 2nd quarter. Pinnacle Family Advisors LLC now owns 13,454 shares of the iPhone maker’s stock worth $1,938,000 after acquiring an additional 2,035 shares during the period. Intl Fcstone Inc. lifted its stake in shares of Apple by 171.1% in the 2nd quarter. Intl Fcstone Inc. now owns 31,725 shares of the iPhone maker’s stock worth $4,569,000 after acquiring an additional 20,022 shares during the period. Griffin Asset Management Inc. acquired a new stake in shares of Apple in the 2nd quarter worth approximately $7,126,000. Gs Investments Inc. acquired a new stake in shares of Apple in the 2nd quarter worth approximately $4,180,000. Finally, Aldebaran Financial Inc. lifted its stake in shares of Apple by 5.1% in the 2nd quarter. Aldebaran Financial Inc. now owns 25,732 shares of the iPhone maker’s stock worth $3,706,000 after acquiring an additional 1,255 shares during the period. 60.45% of the stock is owned by 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.
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