Royal Bank Of Canada Reiterates “Buy” Rating for Apple Inc. (AAPL)

Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Monday. They currently have a $180.00 price target on the iPhone maker’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 14.58% from the stock’s current price.

Several other analysts have also issued reports on AAPL. Morgan Stanley upped their price target on shares of Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $175.00 price target (up from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Cleveland Research raised shares of Apple from a “neutral” rating to a “buy” rating and set a $197.00 price target on the stock in a research report on Tuesday, August 29th. Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 price target (up from $175.00) on shares of Apple in a research report on Wednesday, August 2nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 price target on shares of Apple in a research report on Monday, July 10th. Seven equities research analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $190.67.

Apple (NASDAQ AAPL) opened at 157.10 on Monday. Apple has a 12-month low of $104.08 and a 12-month high of $164.94. The stock’s 50 day moving average is $156.87 and its 200-day moving average is $152.40. The company has a market cap of $811.46 billion, a P/E ratio of 17.84 and a beta of 1.27.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 earnings per share. Analysts predict that Apple will post $9.01 earnings per share for the current fiscal year.

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In other news, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction on Monday, August 28th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following 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. Insiders sold a total of 541,177 shares of company stock valued at $85,864,804 over the last quarter. 0.08% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Stone House Investment Management LLC grew its stake in shares of Apple by 0.4% during the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after buying an additional 6 shares during the period. FC Advisory LLC grew its stake in shares of Apple by 0.4% during the 2nd quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock valued at $371,000 after buying an additional 10 shares during the period. Jackson Grant Investment Advisers Inc. grew its stake in shares of Apple by 0.3% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after buying an additional 17 shares during the period. Stonehearth Capital Management LLC grew its stake in shares of Apple by 0.8% during the 1st quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock valued at $342,000 after buying an additional 20 shares during the period. Finally, Lenox Wealth Advisors Inc. grew its stake in shares of Apple by 0.4% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after buying an additional 20 shares during the period. 60.32% 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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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