Vetr upgraded shares of Apple Inc. (NASDAQ:AAPL) from a buy rating to a strong-buy rating in a report released on Tuesday morning. They currently have $133.51 target price on the iPhone maker’s stock.
Several other analysts have also recently weighed in on AAPL. Credit Suisse Group reaffirmed an outperform rating and issued a $150.00 target price on shares of Apple in a report on Thursday, September 15th. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $124.00 target price on shares of Apple in a report on Wednesday, October 12th. Citigroup Inc. raised their target price on shares of Apple from $120.00 to $130.00 and gave the company a buy rating in a report on Friday, September 30th. Nomura reaffirmed a buy rating and issued a $135.00 target price on shares of Apple in a report on Tuesday, December 6th. Finally, Brean Capital reaffirmed a buy rating on shares of Apple in a report on Friday, January 6th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, forty-two have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $129.41.
Shares of Apple (NASDAQ:AAPL) traded up 0.60% on Tuesday, hitting $119.83. 22,286,856 shares of the stock were exchanged. The stock has a market cap of $638.97 billion, a PE ratio of 14.42 and a beta of 1.30. Apple has a 52-week low of $89.47 and a 52-week high of $119.93. The company’s 50 day moving average is $113.88 and its 200-day moving average is $108.94.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.01. The business had revenue of $46.85 billion for 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 business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 earnings per share. Analysts predict that Apple will post $8.99 EPS for the current fiscal year.
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In other Apple news, CFO Luca Maestri sold 16,950 shares of Apple stock in a transaction on Monday, November 7th. The stock was sold at an average price of $110.03, for a total value of $1,865,008.50. Following the completion of the transaction, the chief financial officer now owns 12,055 shares in the company, valued at approximately $1,326,411.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Philip W. Schiller sold 43,769 shares of Apple stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $115.07, for a total value of $5,036,498.83. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in shares of Apple by 34.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,887,600 shares of the iPhone maker’s stock valued at $562,855,000 after buying an additional 1,521,440 shares during the last quarter. Keel Point LLC increased its position in shares of Apple by 3.7% in the second quarter. Keel Point LLC now owns 37,718 shares of the iPhone maker’s stock valued at $3,606,000 after buying an additional 1,346 shares during the last quarter. Palisade Asset Management LLC increased its position in shares of Apple by 4.1% in the second quarter. Palisade Asset Management LLC now owns 86,466 shares of the iPhone maker’s stock valued at $8,266,000 after buying an additional 3,410 shares during the last quarter. Hall Laurie J Trustee increased its position in shares of Apple by 5.4% in the second quarter. Hall Laurie J Trustee now owns 25,189 shares of the iPhone maker’s stock valued at $2,442,000 after buying an additional 1,300 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. increased its position in shares of Apple by 213.5% in the second quarter. Campbell Newman Asset Management Inc. now owns 56,905 shares of the iPhone maker’s stock valued at $5,440,000 after buying an additional 38,755 shares during the last quarter. Hedge funds and other institutional investors own 56.95% 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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