Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by investment analysts at Piper Jaffray Companies in a note issued to investors on Wednesday. They currently have a $196.00 target price on the iPhone maker’s stock. Piper Jaffray Companies’ price target points to a potential upside of 25.64% from the stock’s current price.
Several other research firms also recently weighed in on AAPL. Barclays PLC reissued a “hold” rating and issued a $146.00 price objective on shares of Apple in a report on Monday, September 4th. Robert W. Baird reissued a “buy” rating and issued a $172.00 price objective on shares of Apple in a report on Tuesday, September 5th. Royal Bank Of Canada increased their price target on Apple from $176.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, September 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $175.00 price target on shares of Apple in a report on Wednesday, September 6th. Finally, Instinet reaffirmed a “buy” rating and set a $185.00 price target (up from $175.00) on shares of Apple in a report on Wednesday, September 6th. Nine investment analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $189.40.
Shares of Apple (NASDAQ AAPL) opened at 156.00 on Wednesday. The firm’s 50-day moving average is $157.71 and its 200 day moving average is $151.46. The firm has a market capitalization of $805.78 billion, a PE ratio of 17.71 and a beta of 1.27. Apple has a 52 week low of $104.08 and a 52 week high of $164.94.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 earnings per share. On average, equities analysts forecast that Apple will post $9.01 earnings per share for the current year.
In related news, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Federighi sold 63,163 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $158.07, for a total value of $9,984,175.41. Following the sale, the insider now owns 359,988 shares of the company’s stock, valued at approximately $56,903,303.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 541,177 shares of company stock valued at $85,864,804. 0.08% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in AAPL. Blue Sky Asset Management LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $108,000. Hefty Wealth Partners lifted its position in shares of Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 174 shares during the period. FNY Managed Accounts LLC lifted its position in shares of Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 716 shares during the period. American Beacon Advisors Inc. bought a new stake in shares of Apple in the 1st quarter worth approximately $117,000. Finally, Private Vista LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $122,000. Institutional investors own 60.36% of the company’s stock.
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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