Barclays PLC Reaffirms Overweight Rating for Apple Inc. (AAPL)
Apple Inc. (NASDAQ:AAPL)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Barclays PLC in a research report issued to clients and investors on Thursday. They currently have a $114.00 target price on the iPhone maker’s stock, down from their previous target price of $115.00. Barclays PLC’s price objective suggests a potential upside of 1.63% from the stock’s previous close.
A number of other analysts also recently issued reports on the company. Piper Jaffray Cos. reissued an “overweight” rating and issued a $153.00 target price on shares of Apple in a research report on Tuesday, July 26th. Credit Suisse Group AG reissued an “outperform” rating and issued a $150.00 target price on shares of Apple in a research report on Thursday, September 15th. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price target on shares of Apple in a research report on Wednesday, July 20th. Vetr cut Apple from a “hold” rating to a “sell” rating and set a $105.47 price target for the company. in a research report on Monday, August 15th. Finally, Sanford C. Bernstein reduced their price target on Apple from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, July 18th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, forty-two have issued a buy rating and two have issued a strong buy rating to the stock. Apple currently has a consensus rating of “Buy” and an average price target of $126.13.
Apple (NASDAQ:AAPL) traded up 0.83% during trading on Thursday, reaching $113.11. The company’s stock had a trading volume of 25,832,313 shares. Apple has a 52-week low of $89.47 and a 52-week high of $123.82. The stock has a 50-day moving average price of $109.61 and a 200 day moving average price of $102.89. The company has a market cap of $609.49 billion, a PE ratio of 13.19 and a beta of 1.14.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. During the same period last year, the business posted $1.85 earnings per share. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, analysts expect that Apple will post $8.26 EPS for the current year.
In related news, insider Johny Srouji sold 9,827 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $108.44, for a total value of $1,065,639.88. Following the completion of the sale, the insider now owns 116,369 shares in the company, valued at $12,619,054.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Angela J. Ahrendts sold 35,797 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $100.00, for a total transaction of $3,579,700.00. Following the completion of the sale, the senior vice president now owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Cohen & Steers Inc. boosted its position in shares of Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock worth $999,482,000 after buying an additional 22,303,795 shares during the last quarter. Magellan Asset Management Ltd boosted its position in shares of Apple by 56.9% in the second quarter. Magellan Asset Management Ltd now owns 15,294,140 shares of the iPhone maker’s stock worth $1,462,120,000 after buying an additional 5,543,465 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Apple by 87.4% in the second quarter. Nordea Investment Management AB now owns 10,195,750 shares of the iPhone maker’s stock worth $974,714,000 after buying an additional 4,755,361 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of Apple during the first quarter worth about $325,287,000. Finally, Franklin Resources Inc. boosted its position in shares of Apple by 20.2% in the second quarter. Franklin Resources Inc. now owns 17,027,764 shares of the iPhone maker’s stock worth $1,627,849,000 after buying an additional 2,857,040 shares during the last quarter. Hedge funds and other institutional investors own 56.46% 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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.