RBC Capital Markets Reiterates “Outperform” Rating for Apple Inc. (AAPL)
Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating reissued by investment analysts at RBC Capital Markets in a research report issued to clients and investors on Monday. They currently have a $125.00 price objective on the iPhone maker’s stock. RBC Capital Markets’ target price would indicate a potential upside of 6.41% from the company’s previous close.
A number of other equities research analysts have also weighed in on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $151.00 price target on shares of Apple in a report on Saturday. Stifel Nicolaus reaffirmed a “buy” rating and set a $130.00 price target (up from $120.00) on shares of Apple in a report on Saturday. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Apple in a research note on Saturday. Morgan Stanley reiterated an “overweight” rating and set a $124.00 price objective on shares of Apple in a research note on Friday, October 14th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and set a $150.00 price objective on shares of Apple in a research note on Thursday, October 13th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, forty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $127.11.
Apple (NASDAQ:AAPL) opened at 117.47 on Monday. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The firm has a market capitalization of $632.98 billion, a price-to-earnings ratio of 13.70 and a beta of 1.22. The stock’s 50 day moving average is $112.17 and its 200-day moving average is $103.69.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.04. The business earned $42.36 billion during 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 business’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the business earned $1.85 EPS. On average, equities research analysts expect that Apple will post $8.26 EPS for the current year.
In other news, Director Arthur D. Levinson sold 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $108.68, for a total transaction of $7,607,600.00. Following the completion of the sale, the director now owns 1,203,283 shares in the company, valued at $130,772,796.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP D Bruce Sewell sold 23,305 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $107.49, for a total value of $2,505,054.45. Following the sale, the senior vice president now owns 239,329 shares of the company’s stock, valued at approximately $25,725,474.21. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in AAPL. Weaver C. Barksdale & Associates Inc. purchased a new stake in Apple during the third quarter valued at approximately $122,000. Penserra Capital Management LLC increased 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 valued at $103,000 after buying an additional 304 shares during the period. D. Scott Neal Inc. increased its stake in shares of Apple by 701.3% in the third quarter. D. Scott Neal Inc. now owns 1,202 shares of the iPhone maker’s stock valued at $136,000 after buying an additional 1,052 shares during the period. Delphi Private Advisors LLC increased 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 valued at $140,000 after buying an additional 69 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new stake in shares of Apple during the second quarter valued at about $143,000. Hedge funds and other institutional investors own 56.41% 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.
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