Apple Inc. (AAPL) Rating Reiterated by Cowen and Company
Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating restated by equities research analysts at Cowen and Company in a research note issued to investors on Friday. They currently have a $160.00 price target on the iPhone maker’s stock. Cowen and Company’s price target suggests a potential upside of 9.33% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Oppenheimer Holdings, Inc. reaffirmed a “” rating on shares of Apple in a research report on Wednesday, February 22nd. UBS AG raised their price target on Apple from $165.00 to $200.00 in a research report on Sunday, April 2nd. BTIG Research raised their price target on Apple from $133.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, March 1st. Guggenheim raised their price target on Apple from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, February 28th. Finally, Mizuho raised their price target on Apple from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, February 27th. Ten investment analysts have rated the stock with a hold rating, forty have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $160.83.
Shares of Apple (NASDAQ:AAPL) opened at 146.34 on Friday. The firm’s 50-day moving average price is $151.30 and its 200 day moving average price is $135.79. Apple has a 12-month low of $91.50 and a 12-month high of $156.65. The firm has a market cap of $762.99 billion, a P/E ratio of 17.17 and a beta of 1.28.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The firm had revenue of $52.90 billion for the quarter, compared to analyst estimates of $52.61 billion. On average, equities analysts expect that Apple will post $8.94 earnings per share for the current fiscal year.
In related news, insider Angela J. Ahrendts sold 75,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $147.98, for a total value of $11,098,500.00. Following the completion of the sale, the insider now owns 154,116 shares of the company’s stock, valued at $22,806,085.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $153.88, for a total transaction of $5,385,800.00. Following the completion of the sale, the director now directly owns 1,168,283 shares of the company’s stock, valued at approximately $179,775,388.04. The disclosure for this sale can be found here. Insiders sold 447,411 shares of company stock valued at $67,200,745 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.
A number of large investors have recently bought and sold shares of AAPL. Vanguard Group Inc. boosted its stake in shares of Apple by 1.8% in the first quarter. Vanguard Group Inc. now owns 343,783,273 shares of the iPhone maker’s stock valued at $49,387,905,000 after buying an additional 6,237,609 shares during the period. State Street Corp boosted its stake 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 period. FMR LLC boosted its stake in shares of Apple by 3.7% in the first quarter. FMR LLC now owns 163,812,996 shares of the iPhone maker’s stock valued at $23,533,376,000 after buying an additional 5,830,423 shares during the period. Geode Capital Management LLC boosted its stake in shares of Apple by 6.9% in the first quarter. Geode Capital Management LLC now owns 54,540,368 shares of the iPhone maker’s stock valued at $7,824,791,000 after buying an additional 3,531,050 shares during the period. Finally, Norges Bank acquired a new stake in shares of Apple during the fourth quarter valued at approximately $5,625,709,000. 61.26% of the stock is owned by institutional investors and hedge funds.
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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