Apple Inc. (AAPL) Stock Rating Reaffirmed by Citigroup Inc.

Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by Citigroup Inc. in a research report issued to clients and investors on Friday. They presently have a $170.00 price target on the iPhone maker’s stock. Citigroup Inc.’s target price suggests a potential upside of 8.93% from the stock’s current price.

A number of other equities research analysts also recently commented on AAPL. Wells Fargo & Company restated a “neutral” rating on shares of Apple in a research report on Thursday, May 25th. Cowen and Company restated an “outperform” rating and issued a $160.00 target price on shares of Apple in a research report on Thursday, May 25th. Oppenheimer Holdings, Inc. restated an “outperform” rating on shares of Apple in a research report on Thursday, May 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $170.00 target price on shares of Apple in a research report on Monday, May 29th. Finally, Sanford C. Bernstein set a $160.00 target price on Apple and gave the company a “buy” rating in a research report on Monday, May 29th. Ten investment analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $188.37.

Apple (NASDAQ:AAPL) traded down 1.28% during mid-day trading on Friday, reaching $151.43. The company had a trading volume of 34,051,167 shares. The stock has a 50 day moving average of $159.51 and a 200 day moving average of $149.86. Apple has a 52 week low of $104.08 and a 52 week high of $164.94. The stock has a market capitalization of $782.17 billion, a price-to-earnings ratio of 17.19 and a beta of 1.27. Apple also saw some unusual options trading on Wednesday. Traders bought 174,155 put options on the company. This represents an increase of approximately 102% compared to the average volume of 86,200 put options.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the Zacks’ 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 company had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that Apple will post $9.01 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Apple Inc. (AAPL) Stock Rating Reaffirmed by Citigroup Inc.” was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this article on another website, it was stolen and republished in violation of US & international copyright and trademark laws. The original version of this article can be read at https://sportsperspectives.com/2017/09/22/apple-inc-aapl-stock-rating-reaffirmed-by-citigroup-inc.html.

In other Apple news, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the transaction, the director now owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 432,930 shares of company stock worth $69,008,577 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. Auxier Asset Management grew its position in Apple by 6.6% during the 4th quarter. Auxier Asset Management now owns 8,055 shares of the iPhone maker’s stock worth $933,000 after purchasing an additional 500 shares in the last quarter. Pegasus Partners Ltd. grew its position in Apple by 4.4% during the 4th quarter. Pegasus Partners Ltd. now owns 53,182 shares of the iPhone maker’s stock worth $6,160,000 after purchasing an additional 2,231 shares in the last quarter. Kentucky Retirement Systems purchased a new position in Apple during the 4th quarter worth approximately $44,815,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Apple during the 4th quarter worth approximately $19,995,000. Finally, Wsfs Capital Management LLC purchased a new position in Apple during the 4th quarter worth approximately $1,655,000. Hedge funds and other institutional investors own 60.35% of the company’s stock.

About Apple

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)

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply