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.
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.
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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