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.
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.
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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