Apple Inc. (AAPL) Given “Buy” Rating at Piper Jaffray Companies

Piper Jaffray Companies reissued their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report released on Tuesday morning. The firm currently has a $200.00 price objective on the iPhone maker’s stock, up from their prior price objective of $196.00.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reaffirmed an outperform rating and issued a $170.00 target price on shares of Apple in a research report on Tuesday, July 25th. Nomura reaffirmed a buy rating and issued a $165.00 target price on shares of Apple in a research report on Wednesday, July 5th. Barclays PLC reaffirmed a hold rating and issued a $146.00 target price on shares of Apple in a research report on Tuesday, August 15th. Vetr raised Apple from a hold rating to a buy rating and set a $166.96 target price for the company in a research report on Thursday, August 17th. Finally, J P Morgan Chase & Co set a $165.00 target price on Apple and gave the stock a buy rating in a research report on Wednesday, July 19th. Eight equities research analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $193.36.

Shares of Apple (NASDAQ AAPL) traded down 1.42% during mid-day trading on Tuesday, hitting $166.64. The stock had a trading volume of 18,852,039 shares. Apple has a 12-month low of $104.08 and a 12-month high of $169.94. The firm has a market cap of $860.73 billion, a P/E ratio of 18.92 and a beta of 1.27. The company has a 50 day moving average price of $157.08 and a 200 day moving average price of $153.07.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. Apple’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. Equities analysts forecast that Apple will post $9.00 earnings per share for the current fiscal year.

WARNING: This piece of content was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://sportsperspectives.com/2017/11/01/apple-inc-aapl-given-buy-rating-at-piper-jaffray-companies.html.

In related news, insider Philip W. Schiller sold 56,808 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total transaction of $8,788,197.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold a total of 541,177 shares of company stock worth $85,864,804 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its holdings in Apple by 301.3% during the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after acquiring an additional 15,018,790 shares during the period. Harbour Capital Advisors LLC increased its holdings in Apple by 14,030.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock worth $31,352,000 after acquiring an additional 4,483,360 shares during the period. Capital Research Global Investors increased its holdings in Apple by 15.0% during the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after acquiring an additional 3,845,363 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Apple by 200.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,765,574 shares of the iPhone maker’s stock worth $686,338,000 after acquiring an additional 3,178,809 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Apple by 25.3% during the 2nd quarter. Principal Financial Group Inc. now owns 10,582,632 shares of the iPhone maker’s stock worth $1,524,110,000 after acquiring an additional 2,138,928 shares during the period. Institutional investors own 60.33% 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