Apple Inc. (AAPL) Given “Buy” Rating at Citigroup Inc.
Other equities research analysts also recently issued research reports about the stock. UBS AG reissued a buy rating and set a $170.00 price objective on shares of Apple in a research report on Wednesday, May 31st. Credit Suisse Group reaffirmed an outperform rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, June 6th. Deutsche Bank AG reaffirmed a hold rating and issued a $130.00 target price on shares of Apple in a report on Tuesday, June 6th. BMO Capital Markets reaffirmed an outperform rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie reaffirmed an outperform rating and issued a $170.00 target price (up previously from $160.00) on shares of Apple in a report on Tuesday, June 6th. Ten analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $188.59.
Apple (NASDAQ:AAPL) opened at 150.55 on Friday. The company has a market capitalization of $777.63 billion, a price-to-earnings ratio of 17.09 and a beta of 1.27. Apple has a 12-month low of $104.08 and a 12-month high of $164.94. The stock has a 50 day moving average price of $159.51 and a 200-day moving average price of $149.86.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter in the previous year, the firm posted $1.42 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts predict that Apple will post $9.01 EPS for the current fiscal year.
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In other news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of the company’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 transaction, the director now owns 1,168,283 shares of the company’s stock, valued at approximately $184,098,035.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 432,930 shares of company stock valued at $69,008,577. Company insiders own 0.08% of the company’s stock.
A number of large investors have recently modified their holdings of AAPL. Auxier Asset Management boosted its stake in Apple by 6.6% during the 4th quarter. Auxier Asset Management now owns 8,055 shares of the iPhone maker’s stock worth $933,000 after purchasing an additional 500 shares during the period. Pegasus Partners Ltd. boosted its stake in Apple by 4.4% during the 4th quarter. Pegasus Partners Ltd. now owns 53,182 shares of the iPhone maker’s stock worth $6,160,000 after purchasing an additional 2,231 shares during the period. Kentucky Retirement Systems acquired a new stake in Apple during the 4th quarter worth $44,815,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Apple during the 4th quarter worth $19,995,000. Finally, Wsfs Capital Management LLC acquired a new stake in Apple during the 4th quarter worth $1,655,000. Hedge funds and other institutional investors own 60.35% 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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