Apple Inc. (AAPL) Rating Reiterated by Wells Fargo & Company

Apple Inc. (NASDAQ:AAPL)‘s stock had its “market perform” rating reiterated by analysts at Wells Fargo & Company in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $195.00 price target on the iPhone maker’s stock. Wells Fargo & Company’s price objective would suggest a potential upside of 15.32% from the stock’s previous close.

Several other brokerages have also recently commented on AAPL. Morgan Stanley boosted their target price on Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. Needham & Company LLC restated a “buy” rating and issued a $175.00 price target (up previously from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Cleveland Research upgraded shares of Apple from a “neutral” rating to a “buy” rating and set a $197.00 price target on the stock in a research report on Tuesday, August 29th. Bank of America Corporation restated a “buy” rating and issued a $180.00 price target (up previously from $175.00) on shares of Apple in a research report on Wednesday, August 2nd. Finally, UBS AG restated a “buy” rating and issued a $170.00 price target on shares of Apple in a research report on Monday, July 31st. Seven equities research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the stock. Apple presently has a consensus rating of “Buy” and an average price target of $200.12.

Shares of Apple (AAPL) traded down $2.25 during midday trading on Tuesday, reaching $169.10. 22,505,285 shares of the company’s stock were exchanged, compared to its average volume of 26,130,000. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. Apple has a 1 year low of $106.16 and a 1 year high of $176.24. The company has a market capitalization of $868,250.00, a PE ratio of 18.91, a P/E/G ratio of 1.40 and a beta of 1.25.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter last year, the company posted $1.50 earnings per share. Apple’s revenue was up 12.2% on a year-over-year basis. research analysts anticipate that Apple will post 11.15 earnings per share for the current year.

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In related news, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the completion of the sale, the insider now owns 70,358 shares of the company’s stock, valued at $11,327,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Insiders sold 394,711 shares of company stock valued at $62,660,786 in the last ninety days. 0.08% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Blue Sky Asset Management LLC purchased a new position in Apple during the second quarter valued at $108,000. Hefty Wealth Partners lifted its position in Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares during the period. FNY Managed Accounts LLC lifted its position in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares during the period. American Beacon Advisors Inc. purchased a new position in Apple during the first quarter valued at $117,000. Finally, Private Vista LLC purchased a new position in Apple during the second quarter valued at $122,000. 60.38% of the stock is owned by institutional investors.

About Apple

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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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