Apple’s (AAPL) “Outperform” Rating Reaffirmed at Bank of America
Apple (NASDAQ:AAPL)‘s stock had its “outperform” rating reaffirmed by Bank of America in a research note issued on Thursday. They presently have a $220.00 price objective on the iPhone maker’s stock. Bank of America’s target price indicates a potential upside of 40.66% from the company’s current price.
A number of other research analysts also recently commented on the stock. ValuEngine downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Thursday. Goldman Sachs Group assumed coverage on shares of Apple in a research note on Wednesday. They set a “neutral” rating and a $161.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of Apple in a research note on Friday, February 2nd. KeyCorp reaffirmed an “equal weight” rating on shares of Apple in a research note on Sunday, February 4th. Finally, Morgan Stanley upped their price objective on shares of Apple from $200.00 to $203.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $201.72.
Apple (NASDAQ:AAPL) traded up $1.89 during trading hours on Thursday, reaching $156.41. 70,670,000 shares of the company’s stock were exchanged, compared to its average volume of 36,820,000. The stock has a market cap of $800,070.00, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.17 and a beta of 1.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24. Apple has a 52 week low of $131.12 and a 52 week high of $180.10.
In other Apple news, SVP Johny Srouji sold 5,760 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total value of $1,004,544.00. Following the completion of the sale, the senior vice president now owns 81,560 shares of the company’s stock, valued at $14,224,064. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total transaction of $2,695,726.35. Following the completion of the sale, the insider now directly owns 39,682 shares of the company’s stock, valued at approximately $6,839,192.70. The disclosure for this sale can be found here. Insiders sold 128,412 shares of company stock valued at $22,115,155 in the last ninety days. 0.08% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Blue Sky Asset Management LLC bought a new position in Apple during the second quarter worth $108,000. University of Texas Investment Managment Co. bought a new position in Apple during the fourth quarter worth $114,000. FNY Managed Accounts LLC lifted its stake in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares during the last quarter. Private Vista LLC bought a new position in Apple during the second quarter worth $122,000. Finally, Armbruster Capital Management Inc. lifted its stake in Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 60.23% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Apple’s (AAPL) “Outperform” Rating Reaffirmed at Bank of America” was first posted by Daily Political and is the property of of Daily Political. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.dailypolitical.com/2018/02/08/apple-aapl-stock-rating-reaffirmed-by-bank-of-america.html.
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.
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.