Apple’s (AAPL) “Buy” Rating Reaffirmed at Drexel Hamilton
Drexel Hamilton reaffirmed their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report released on Monday. The brokerage currently has a $185.00 price target on the iPhone maker’s stock.
A number of other research firms have also weighed in on AAPL. Citigroup Inc. reissued a buy rating and set a $115.00 target price on shares of Apple in a report on Wednesday, July 6th. Piper Jaffray Cos. reissued an overweight rating and set a $153.00 target price on shares of Apple in a report on Tuesday, July 26th. Cowen and Company reissued an outperform rating and set a $125.00 target price on shares of Apple in a report on Thursday, July 28th. BMO Capital Markets reissued an outperform rating and set a $140.00 target price (up from $116.00) on shares of Apple in a report on Monday, September 19th. Finally, OTR Global raised shares of Apple to a positive rating in a report on Wednesday, October 12th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, forty-four have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $127.11.
Shares of Apple (NASDAQ:AAPL) opened at 117.55 on Monday. Apple has a 12 month low of $89.47 and a 12 month high of $123.82. The stock’s 50 day moving average is $111.86 and its 200 day moving average is $103.64. The company has a market cap of $633.41 billion, a P/E ratio of 13.71 and a beta of 1.22.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $42.36 billion for the quarter, compared to analyst estimates of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm’s revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 EPS. On average, analysts anticipate that Apple will post $8.26 EPS for the current fiscal year.
In other Apple news, insider Daniel J. Riccio sold 22,381 shares of Apple stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total value of $2,530,395.86. Following the completion of the transaction, the insider now directly owns 47,043 shares in the company, valued at $5,318,681.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 110,000 shares of Apple stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $105.95, for a total value of $11,654,500.00. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC boosted its stake in 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 period. Weaver C. Barksdale & Associates Inc. acquired a new stake in Apple during the third quarter worth $122,000. Delphi Private Advisors LLC boosted its stake in 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 period. Hussman Strategic Advisors Inc. acquired a new stake in Apple during the second quarter worth $143,000. Finally, River & Mercantile Asset Management LLP boosted its stake in 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 period. Institutional investors own 56.41% 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.
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.