Apple Inc. (AAPL) Rating Reiterated by Morgan Stanley
Apple Inc. (NASDAQ:AAPL)‘s stock had its “overweight” rating restated by investment analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday, September 12th. They currently have a $194.00 price objective on the iPhone maker’s stock, up from their previous price objective of $182.00. Morgan Stanley’s price target would indicate a potential upside of 22.27% from the stock’s current price.
AAPL has been the subject of a number of other reports. Keefe, Bruyette & Woods set a $170.00 target price on Apple and gave the company a “buy” rating in a research report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $170.00 target price on shares of Apple in a research report on Wednesday, June 21st. Nomura reaffirmed a “buy” rating and set a $165.00 target price on shares of Apple in a research report on Wednesday, July 5th. Maxim Group lifted their target price on Apple from $171.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 19th. Finally, UBS AG reaffirmed a “buy” rating and set a $170.00 target price on shares of Apple in a research report on Wednesday, May 31st. Eleven analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus target price of $187.85.
Shares of Apple (NASDAQ AAPL) traded up 0.35% during midday trading on Tuesday, reaching $159.22. The company had a trading volume of 7,344,906 shares. The firm’s 50 day moving average price is $159.23 and its 200-day moving average price is $149.72. The stock has a market capitalization of $822.41 billion, a price-to-earnings ratio of 18.08 and a beta of 1.27. Apple has a 1-year low of $104.08 and a 1-year high of $164.94.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. Apple’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS. Equities research analysts expect that Apple will post $9.01 EPS for the current fiscal year.
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In other news, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the completion of the sale, the director now directly owns 1,168,283 shares of the company’s stock, valued at approximately $184,098,035.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johny Srouji sold 5,892 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the sale, the insider now directly owns 70,358 shares of the company’s stock, valued at $11,327,638. The disclosure for this sale can be found here. Insiders have sold a total of 432,930 shares of company stock valued at $69,008,577 over the last three months. Corporate insiders own 0.08% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. MPS Loria Financial Planners LLC purchased a new stake in shares of Apple during the 2nd quarter valued at $12,051,000. Frontier Investment Mgmt Co. grew its stake in shares of Apple by 2.1% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 289,525 shares of the iPhone maker’s stock valued at $41,697,000 after buying an additional 6,040 shares during the period. Burgundy Asset Management Ltd. grew its stake in shares of Apple by 0.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,060,062 shares of the iPhone maker’s stock valued at $152,670,000 after buying an additional 8,536 shares during the period. Pinnacle Family Advisors LLC grew its stake 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 valued at $1,938,000 after buying an additional 2,035 shares during the period. Finally, Intl Fcstone Inc. grew its stake 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 valued at $4,569,000 after buying an additional 20,022 shares during the period. 60.35% of the stock is 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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