Apple Inc. (AAPL) Receives “Overweight” Rating from Piper Jaffray Cos.
Apple Inc. (NASDAQ:AAPL)‘s stock had its “overweight” rating reiterated by stock analysts at Piper Jaffray Cos. in a research note issued to investors on Saturday. They currently have a $151.00 price objective on the iPhone maker’s stock. Piper Jaffray Cos.’s price objective suggests a potential upside of 28.34% from the stock’s current price.
AAPL has been the topic of several other research reports. Drexel Hamilton reaffirmed a “buy” rating and issued a $185.00 price target on shares of Apple in a report on Wednesday, September 14th. Canaccord Genuity reaffirmed a “buy” rating and issued a $140.00 price target (up previously from $120.00) on shares of Apple in a report on Monday, September 12th. Pacific Crest upped their price target on shares of Apple from $121.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday. Nomura upped their price target on shares of Apple from $120.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 22nd. Finally, Mizuho reaffirmed a “buy” rating and issued a $120.00 price target on shares of Apple in a report on Thursday, September 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-three have assigned a buy rating and two have issued a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and an average target price of $126.74.
Apple (NASDAQ:AAPL) traded up 0.56% during mid-day trading on Friday, reaching $117.63. 35,652,191 shares of the company traded hands. The stock has a market capitalization of $633.84 billion, a PE ratio of 13.72 and a beta of 1.22. Apple has a 52-week low of $89.47 and a 52-week high of $123.82. The stock has a 50-day moving average of $111.56 and a 200 day moving average of $103.65.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The company had revenue of $42.36 billion for the quarter, compared to analyst estimates of $42.35 billion. During the same period in the prior year, the business posted $1.85 earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. Equities research analysts expect that Apple will post $8.26 earnings per share for the current year.
In other news, SVP D Bruce Sewell sold 23,305 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $107.49, for a total transaction of $2,505,054.45. Following the completion of the sale, the senior vice president now owns 239,329 shares in the company, valued at $25,725,474.21. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Angela J. Ahrendts sold 35,797 shares of the business’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $100.00, for a total value of $3,579,700.00. Following the sale, the senior vice president now owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Van Cleef Asset Management Inc increased its stake in Apple by 1.2% in the first quarter. Van Cleef Asset Management Inc now owns 163,872 shares of the iPhone maker’s stock valued at $17,860,000 after buying an additional 1,941 shares in the last quarter. Fisher Asset Management LLC increased its stake in Apple by 0.3% in the first quarter. Fisher Asset Management LLC now owns 11,315,252 shares of the iPhone maker’s stock valued at $1,242,981,000 after buying an additional 38,763 shares in the last quarter. BLB&B Advisors LLC increased its stake in Apple by 6.5% in the first quarter. BLB&B Advisors LLC now owns 52,425 shares of the iPhone maker’s stock valued at $5,714,000 after buying an additional 3,180 shares in the last quarter. Joel Isaacson & Co. LLC increased its stake in Apple by 1.2% in the first quarter. Joel Isaacson & Co. LLC now owns 102,125 shares of the iPhone maker’s stock valued at $11,131,000 after buying an additional 1,256 shares in the last quarter. Finally, Nicolet Bankshares Inc. increased its stake in Apple by 0.5% in the first quarter. Nicolet Bankshares Inc. now owns 24,880 shares of the iPhone maker’s stock valued at $2,712,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 56.46% 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.
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