Apple Inc. (AAPL) Given “Overweight” Rating at JPMorgan Chase & Co.
Several other analysts have also recently issued reports on AAPL. Raymond James Financial Inc. restated a hold rating on shares of Apple in a report on Saturday, July 9th. Barclays PLC reiterated a buy rating on shares of Apple in a report on Sunday, July 17th. Credit Suisse Group AG reiterated a buy rating and set a $150.00 price target on shares of Apple in a report on Sunday, July 17th. RBC Capital Markets reiterated an outperform rating and set a $117.00 price target (up from $115.00) on shares of Apple in a report on Thursday, August 11th. Finally, Mizuho reiterated a buy rating and set a $120.00 price target on shares of Apple in a report on Monday, July 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-three have given a buy rating and two have issued a strong buy rating to the stock. Apple has an average rating of Buy and an average price target of $126.74.
Apple (NASDAQ:AAPL) opened at 117.63 on Friday. Apple has a one year low of $89.47 and a one year high of $123.82. The company has a market capitalization of $633.84 billion, a P/E ratio of 13.72 and a beta of 1.22. The firm has a 50-day moving average of $111.56 and a 200-day moving average of $103.65.
Apple (NASDAQ:AAPL) last issued its earnings results 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. The company earned $42.36 billion during the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.85 EPS. On average, analysts anticipate that Apple will post $8.26 earnings per share for the current year.
In other news, SVP Angela J. Ahrendts sold 35,797 shares of the company’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $100.00, for a total value of $3,579,700.00. Following the sale, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of the company’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 disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
Large investors have recently modified their holdings of the stock. Weaver C. Barksdale & Associates Inc. purchased a new stake in shares of Apple during the third quarter worth about $122,000. Penserra Capital Management LLC boosted its stake in shares of Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares during the last quarter. Delphi Private Advisors LLC boosted its stake in shares of Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of Apple during the second quarter worth about $143,000. Finally, River & Mercantile Asset Management LLP boosted its stake in shares of Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.
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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