Apple’s (AAPL) Outperform Rating Reiterated at Credit Suisse Group AG
Credit Suisse Group AG reaffirmed their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report report published on Thursday. They currently have a $150.00 target price on the iPhone maker’s stock.
“Super Hit,,” Credit Suisse Group AG’s analyst wrote.
Several other research analysts have also recently issued reports on the stock. Piper Jaffray Cos. reiterated an overweight rating and issued a $153.00 price objective on shares of Apple in a report on Tuesday, July 26th. Needham & Company LLC reiterated a buy rating and issued a $150.00 price objective on shares of Apple in a report on Wednesday, July 20th. Vetr cut shares of Apple from a hold rating to a sell rating and set a $105.47 price objective for the company. in a report on Monday, August 15th. Sanford C. Bernstein decreased their price objective on shares of Apple from $135.00 to $125.00 and set an outperform rating for the company in a report on Monday, July 18th. Finally, Brean Capital reiterated a buy rating on shares of Apple in a report on Tuesday, September 13th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $126.49.
Shares of Apple (NASDAQ:AAPL) opened at 113.58 on Thursday. Apple has a 1-year low of $89.47 and a 1-year high of $123.82. The firm has a 50-day moving average of $108.13 and a 200 day moving average of $102.24. The stock has a market capitalization of $612.02 billion, a PE ratio of 13.24 and a beta of 1.14.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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 business earned $42.36 billion during the quarter, compared to analysts’ expectations 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 firm posted $1.85 earnings per share. On average, equities analysts anticipate that Apple will post $8.26 earnings per share for the current fiscal year.
In other news, CEO Timothy D. Cook sold 334,000 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $107.23, for a total value of $35,814,820.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the sale, the senior vice president now directly owns 105,839 shares in the company, valued at $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in AAPL. Carnick & Kubik Group LLC bought a new stake in Apple during the second quarter worth approximately $1,471,000. Williams Jones & Associates LLC boosted its stake in Apple by 14.4% in the second quarter. Williams Jones & Associates LLC now owns 768,506 shares of the iPhone maker’s stock worth $73,469,000 after buying an additional 96,464 shares in the last quarter. Springowl Associates LLC bought a new stake in Apple during the second quarter worth approximately $860,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Apple during the second quarter worth approximately $21,143,000. Finally, Kentucky Retirement Systems bought a new stake in Apple during the second quarter worth approximately $44,529,000. 56.52% of the stock is currently owned by hedge funds and other institutional investors.
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.
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