Apple (AAPL) Now Covered by Analysts at Goldman Sachs Group

Research analysts at Goldman Sachs Group began coverage on shares of Apple (NASDAQ:AAPL) in a report released on Wednesday. The brokerage set a “neutral” rating and a $161.00 price target on the iPhone maker’s stock. Goldman Sachs Group’s target price would indicate a potential upside of 3.77% from the company’s previous close.

A number of other equities analysts also recently weighed in on AAPL. BMO Capital Markets downgraded shares of Apple from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $162.00 to $166.00 in a report on Wednesday, January 31st. ValuEngine upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Sanford C. Bernstein downgraded shares of Apple from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $195.00 to $170.00 in a report on Friday, February 2nd. William Blair restated an “outperform” rating on shares of Apple in a report on Friday, February 2nd. Finally, Morningstar set a $170.00 target price on shares of Apple and gave the stock a “neutral” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $200.43.

Apple (NASDAQ AAPL) opened at $155.15 on Wednesday. The firm has a market cap of $787,230.00, a price-to-earnings ratio of 15.96, a P/E/G ratio of 1.23 and a beta of 1.33. Apple has a fifty-two week low of $131.12 and a fifty-two week high of $180.10. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.82 by $0.07. The business had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.36 earnings per share. analysts anticipate that Apple will post 11.4 EPS for the current year.

In related news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $174.78, for a total value of $2,733,733.98. Following the transaction, the insider now directly owns 13,739 shares in the company, valued at $2,401,302.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johny Srouji sold 10,368 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the transaction, the insider now owns 81,560 shares in the company, valued at $14,246,900.80. The disclosure for this sale can be found here. Insiders sold 128,412 shares of company stock worth $22,115,155 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AAPL. Hoertkorn Richard Charles lifted its holdings in shares of Apple by 1.2% in the second quarter. Hoertkorn Richard Charles now owns 45,281 shares of the iPhone maker’s stock worth $6,521,000 after acquiring an additional 549 shares during the last quarter. Moon Capital Management LLC lifted its holdings in shares of Apple by 44.8% in the second quarter. Moon Capital Management LLC now owns 8,430 shares of the iPhone maker’s stock worth $1,214,000 after acquiring an additional 2,610 shares during the last quarter. Leavell Investment Management Inc. lifted its holdings in shares of Apple by 0.7% in the second quarter. Leavell Investment Management Inc. now owns 99,376 shares of the iPhone maker’s stock worth $14,312,000 after acquiring an additional 681 shares during the last quarter. Fenimore Asset Management Inc. bought a new position in shares of Apple in the second quarter worth about $204,000. Finally, Chesley Taft & Associates LLC lifted its holdings in shares of Apple by 0.5% in the second quarter. Chesley Taft & Associates LLC now owns 83,886 shares of the iPhone maker’s stock worth $12,081,000 after acquiring an additional 403 shares during the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.

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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.

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