Apple’s (AAPL) “Buy” Rating Reiterated at J P Morgan Chase & Co
J P Morgan Chase & Co restated their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report released on Monday morning. The firm currently has a target price on the iPhone maker’s stock.
AAPL has been the subject of several other research reports. UBS AG restated a buy rating and set a $170.00 price objective on shares of Apple in a research report on Monday, July 31st. Wells Fargo & Company reaffirmed a market perform rating and issued a $140.00 target price on shares of Apple in a report on Saturday, July 22nd. KeyCorp reaffirmed an equal weight rating on shares of Apple in a report on Friday, August 4th. Goldman Sachs Group, Inc. (The) set a $170.00 target price on shares of Apple and gave the company a buy rating in a report on Saturday, May 20th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $177.00 target price on shares of Apple in a report on Friday, June 16th. Eleven analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. Apple has an average rating of Buy and a consensus price target of $187.54.
Shares of Apple (NASDAQ AAPL) opened at 159.65 on Monday. Apple has a 1-year low of $104.08 and a 1-year high of $164.94. The stock has a 50 day moving average of $158.37 and a 200-day moving average of $149.12. The firm has a market cap of $824.63 billion, a price-to-earnings ratio of 18.13 and a beta of 1.27.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 EPS. Equities analysts anticipate that Apple will post $9.02 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.58%. The ex-dividend date was Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.
In other Apple news, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares in the company, valued at $184,098,035.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 432,930 shares of company stock worth $69,008,577. Company insiders own 0.08% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Pinnacle Family Advisors LLC grew its holdings in shares of Apple by 17.8% during the 2nd quarter. Pinnacle Family Advisors LLC now owns 13,454 shares of the iPhone maker’s stock worth $1,938,000 after purchasing an additional 2,035 shares in the last quarter. Intl Fcstone Inc. grew its holdings in shares of Apple by 171.1% during the 2nd quarter. Intl Fcstone Inc. now owns 31,725 shares of the iPhone maker’s stock worth $4,569,000 after purchasing an additional 20,022 shares in the last quarter. Griffin Asset Management Inc. acquired a new stake in shares of Apple during the 2nd quarter worth approximately $7,126,000. Gs Investments Inc. acquired a new stake in shares of Apple during the 2nd quarter worth approximately $4,180,000. Finally, Aldebaran Financial Inc. grew its holdings in shares of Apple by 5.1% during the 2nd quarter. Aldebaran Financial Inc. now owns 25,732 shares of the iPhone maker’s stock worth $3,706,000 after purchasing an additional 1,255 shares in the last quarter. 60.45% of the stock is currently owned by 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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