Apple’s (AAPL) “Buy” Rating Reiterated at Hilliard Lyons
Hilliard Lyons reaffirmed their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note published on Wednesday. The brokerage currently has a $999.00 price target on the iPhone maker’s stock, up from their prior price target of $182.00.
A number of other brokerages have also commented on AAPL. Barclays PLC reaffirmed a hold rating and issued a $146.00 target price on shares of Apple in a research report on Monday, September 4th. Piper Jaffray Companies reissued an overweight rating and set a $190.00 price objective on shares of Apple in a report on Tuesday, September 5th. Robert W. Baird reissued a buy rating and set a $172.00 price objective on shares of Apple in a report on Tuesday, September 5th. Royal Bank Of Canada boosted their price objective on Apple from $176.00 to $180.00 and gave the stock an outperform rating in a report on Friday, September 1st. Finally, Sanford C. Bernstein reissued an outperform rating and set a $175.00 price objective on shares of Apple in a report on Wednesday, September 6th. Eleven research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. Apple presently has an average rating of Buy and an average price target of $187.63.
Apple (AAPL) traded up 1.01% on Wednesday, hitting $159.88. The stock had a trading volume of 49,114,602 shares. Apple has a 52 week low of $104.08 and a 52 week high of $164.94. The stock has a market capitalization of $825.82 billion, a price-to-earnings ratio of 18.15 and a beta of 1.27. The company has a 50-day moving average price of $158.97 and a 200-day moving average price of $149.42.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. During the same period in the previous year, the company posted $1.42 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Apple will post $9.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.58%. Apple’s dividend payout ratio is presently 28.64%.
In related news, insider Johny Srouji sold 5,892 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $161.00, for a total value of $948,612.00. Following the completion of the sale, the insider now owns 70,358 shares in the company, valued at approximately $11,327,638. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 6,209 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $161.96, for a total transaction of $1,005,609.64. 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 in the last 90 days. Insiders own 0.08% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Frontier Investment Mgmt Co. raised its position in Apple by 2.1% in the 2nd quarter. Frontier Investment Mgmt Co. now owns 289,525 shares of the iPhone maker’s stock valued at $41,697,000 after purchasing an additional 6,040 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in Apple by 0.8% in 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 purchasing an additional 8,536 shares during the last quarter. Pinnacle Family Advisors LLC raised its position in Apple by 17.8% in the 2nd quarter. Pinnacle Family Advisors LLC now owns 13,454 shares of the iPhone maker’s stock valued at $1,938,000 after purchasing an additional 2,035 shares during the last quarter. Intl Fcstone Inc. raised its position in Apple by 171.1% in the 2nd quarter. Intl Fcstone Inc. now owns 31,725 shares of the iPhone maker’s stock valued at $4,569,000 after purchasing an additional 20,022 shares during the last quarter. Finally, Griffin Asset Management Inc. purchased a new stake in Apple in the 2nd quarter valued at $7,126,000. Hedge funds and other institutional investors own 60.45% of the company’s stock.
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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