Apple’s (AAPL) Buy Rating Reaffirmed at Brean Capital
Other analysts also recently issued research reports about the stock. Raymond James Financial Inc. reaffirmed a hold rating on shares of Apple in a research report on Saturday, July 9th. Barclays PLC reiterated a buy rating on shares of Apple in a research note on Sunday, July 17th. Credit Suisse Group AG reiterated a buy rating and set a $150.00 target price on shares of Apple in a research note on Sunday, July 17th. Oppenheimer Holdings Inc. reiterated a market perform rating on shares of Apple in a research note on Thursday, August 11th. Finally, Needham & Company LLC reiterated a strong-buy rating and set a $150.00 target price on shares of Apple in a research note on Tuesday, June 14th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, forty-one have issued a buy rating and three have issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $125.93.
Shares of Apple (NASDAQ:AAPL) traded down 1.19% during trading on Wednesday, reaching $112.59. 6,985,973 shares of the company’s stock traded hands. The company has a 50 day moving average of $109.49 and a 200-day moving average of $102.82. The company has a market capitalization of $606.68 billion, a price-to-earnings ratio of 13.13 and a beta of 1.14. Apple has a 1-year low of $89.47 and a 1-year high of $123.82.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The company earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. During the same quarter last year, the company earned $1.85 earnings per share. Apple’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities analysts predict that Apple will post $8.26 earnings per share for the current year.
In related news, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the completion of the sale, the senior vice president now directly owns 105,839 shares in the company, valued at $10,583,900. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $35,814,820.00. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Carnick & Kubik Group LLC bought a new stake in shares of Apple during the second quarter worth $1,471,000. Williams Jones & Associates LLC boosted its stake in shares of Apple by 14.4% in the second quarter. Williams Jones & Associates LLC now owns 768,506 shares of the iPhone maker’s stock worth $73,469,000 after buying an additional 96,464 shares in the last quarter. Springowl Associates LLC bought a new stake in shares of Apple during the second quarter worth $860,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Apple during the second quarter worth $21,143,000. Finally, Kentucky Retirement Systems bought a new stake in shares of Apple during the second quarter worth $44,529,000. Hedge funds and other institutional investors own 56.46% 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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