Piper Jaffray Companies restated their overweight rating on shares of Apple Inc. (NASDAQ:AAPL) in a report released on Tuesday morning. The firm currently has a $155.00 price objective on the iPhone maker’s stock.
Other analysts have also recently issued reports about the stock. Canaccord Genuity raised their target price on shares of Apple from $120.00 to $140.00 and gave the stock a buy rating in a report on Friday, September 16th. Vetr upgraded shares of Apple from a hold rating to a buy rating and set a $111.96 target price for the company in a report on Monday, September 12th. BTIG Research raised their target price on shares of Apple from $124.00 to $133.00 and gave the stock a buy rating in a report on Thursday, September 15th. Drexel Hamilton restated a buy rating and set a $185.00 target price on shares of Apple in a report on Wednesday, September 14th. Finally, Citigroup Inc. restated a buy rating and set a $120.00 target price on shares of Apple in a report on Wednesday, September 14th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, forty-two have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Apple presently has a consensus rating of Buy and an average target price of $129.41.
Apple (NASDAQ:AAPL) traded up 0.54% during mid-day trading on Tuesday, hitting $119.75. The stock had a trading volume of 27,363,333 shares. The stock has a market cap of $638.54 billion, a PE ratio of 14.41 and a beta of 1.30. Apple has a one year low of $89.47 and a one year high of $119.93. The firm’s 50-day moving average is $113.88 and its 200 day moving average is $108.94.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.01. The firm earned $46.85 billion during the quarter, compared to analysts’ expectations of $46.88 billion. Apple had a net margin of 21.19% and a return on equity of 35.59%. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the firm posted $1.96 earnings per share. Equities research analysts expect that Apple will post $8.99 EPS for the current year.
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In other Apple news, insider Luca Maestri sold 4,010 shares of Apple stock in a transaction on Friday, January 6th. The shares were sold at an average price of $117.88, for a total transaction of $472,698.80. Following the transaction, the insider now directly owns 422 shares of the company’s stock, valued at approximately $49,745.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel J. Riccio sold 33,323 shares of Apple stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $110.35, for a total transaction of $3,677,193.05. Following the transaction, the insider now directly owns 32,484 shares in the company, valued at $3,584,609.40. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Capstone Asset Management Co. increased its position in Apple by 19.1% in the second quarter. Capstone Asset Management Co. now owns 550,349 shares of the iPhone maker’s stock worth $52,613,000 after buying an additional 88,106 shares in the last quarter. Somerset Trust Co increased its position in Apple by 0.4% in the second quarter. Somerset Trust Co now owns 36,464 shares of the iPhone maker’s stock worth $3,486,000 after buying an additional 135 shares in the last quarter. Schneider Downs Wealth Management Advisors LP increased its position in Apple by 1.5% in the second quarter. Schneider Downs Wealth Management Advisors LP now owns 3,751 shares of the iPhone maker’s stock worth $359,000 after buying an additional 56 shares in the last quarter. Tompkins Financial Corp increased its position in Apple by 25.0% in the second quarter. Tompkins Financial Corp now owns 60,858 shares of the iPhone maker’s stock worth $5,818,000 after buying an additional 12,153 shares in the last quarter. Finally, First United Bank Trust increased its position in Apple by 0.9% in the second quarter. First United Bank Trust now owns 23,211 shares of the iPhone maker’s stock worth $2,219,000 after buying an additional 207 shares in the last quarter. 56.95% of the stock is currently owned by hedge funds and other 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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