Mizuho Reiterates Buy Rating for Apple Inc. (NASDAQ:AAPL)
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by analysts at Mizuho in a research report issued on Wednesday, July 12th.
AAPL has been the subject of a number of other reports. Keefe, Bruyette & Woods set a $170.00 target price on shares of Apple and gave the stock a “buy” rating in a research note on Monday, May 22nd. Goldman Sachs Group Inc reaffirmed a “buy” rating and issued a $170.00 target price on shares of Apple in a research note on Wednesday, June 21st. Nomura reaffirmed a “buy” rating and issued a $165.00 target price on shares of Apple in a research note on Wednesday, July 5th. Barclays PLC set a $123.00 price target on shares of Apple and gave the stock a “neutral” rating in a research report on Wednesday, May 3rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $177.00 price target (up from $161.00) on shares of Apple in a research report on Wednesday, May 17th. Twelve investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Apple currently has an average rating of “Buy” and an average price target of $167.57.
Shares of Apple (AAPL) opened at 156.39 on Wednesday. The company’s 50 day moving average price is $147.04 and its 200 day moving average price is $142.60. The stock has a market capitalization of $808.50 billion, a price-to-earnings ratio of 17.76 and a beta of 1.31. Apple has a one year low of $102.53 and a one year high of $157.40.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 EPS. On average, analysts expect that Apple will post $9.00 earnings per share for the current fiscal year.
Apple announced that its board has approved a share buyback plan on Tuesday, May 2nd that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
ILLEGAL ACTIVITY WARNING: This report was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/08/07/apples-nasdaqaapl-buy-rating-reiterated-at-mizuho-updated-updated-updated.html.
In other Apple news, insider Luca Maestri sold 4,757 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the transaction, the insider now directly owns 3,414 shares in the company, valued at approximately $528,145.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $155.32, for a total transaction of $1,855,918.68. Following the completion of the transaction, the insider now owns 13,049 shares of the company’s stock, valued at $2,026,770.68. The disclosure for this sale can be found here. Insiders have sold a total of 230,500 shares of company stock valued at $35,357,246 over the last quarter. 0.08% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fusion Family Wealth LLC acquired a new position in shares of Apple during the fourth quarter valued at about $1,115,000. Artisan Partners Limited Partnership raised its position in shares of Apple by 5.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 420,128 shares of the iPhone maker’s stock valued at $48,659,000 after buying an additional 19,845 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Apple by 9.0% in the fourth quarter. Cleararc Capital Inc. now owns 151,235 shares of the iPhone maker’s stock valued at $17,516,000 after buying an additional 12,534 shares during the last quarter. State Street Corp raised its position in shares of Apple by 2.0% in the fourth quarter. State Street Corp now owns 219,739,579 shares of the iPhone maker’s stock valued at $25,450,260,000 after buying an additional 4,301,005 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. raised its position in shares of Apple by 6.7% in the fourth quarter. Peregrine Asset Advisers Inc. now owns 13,806 shares of the iPhone maker’s stock valued at $1,599,000 after buying an additional 865 shares during the last quarter. Institutional investors and hedge funds own 61.17% 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.