Atlantic Securities reissued their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report released on Friday morning. The firm currently has a $165.00 price objective on the iPhone maker’s stock.
AAPL has been the subject of a number of other research reports. William Blair reissued an outperform rating on shares of Apple in a report on Tuesday, February 7th. Guggenheim initiated coverage on shares of Apple in a report on Wednesday, January 4th. They issued a buy rating and a $140.00 price target for the company. Royal Bank of Canada reissued an outperform rating and issued a $125.00 price target on shares of Apple in a report on Friday, January 13th. Piper Jaffray Companies reissued an overweight rating and issued a $155.00 price target on shares of Apple in a report on Tuesday, January 24th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $130.00 price objective on shares of Apple in a research note on Friday, March 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $147.25.
Apple (NASDAQ:AAPL) traded down 0.2270% on Friday, hitting $142.1166. The stock had a trading volume of 5,232,898 shares. The company’s 50 day moving average is $141.36 and its 200 day moving average is $124.37. The firm has a market cap of $745.62 billion, a PE ratio of 17.0608 and a beta of 1.26. Apple has a 12-month low of $89.47 and a 12-month high of $145.46.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, January 31st. The iPhone maker reported $3.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.14. The company earned $78.35 billion during the quarter, compared to analyst estimates of $77.37 billion. Apple had a net margin of 20.73% and a return on equity of 34.94%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $3.28 earnings per share. On average, equities research analysts expect that Apple will post $8.95 EPS for the current fiscal year.
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In other news, SVP D Bruce Sewell sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $128.43, for a total transaction of $9,632,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 2,649 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $128.05, for a total transaction of $339,204.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 436,644 shares of company stock valued at $57,294,327. Company insiders own 0.08% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Armbruster Capital Management Inc. raised its stake in shares of Apple by 35.1% in the third quarter. Armbruster Capital Management Inc. now owns 1,024 shares of the iPhone maker’s stock worth $116,000 after buying an additional 266 shares in the last quarter. Weaver C. Barksdale & Associates Inc. bought a new stake in shares of Apple during the third quarter worth $122,000. Glacier Peak Capital LLC bought a new stake in shares of Apple during the fourth quarter worth $127,000. D. Scott Neal Inc. raised its stake in shares of Apple by 701.3% in the third quarter. D. Scott Neal Inc. now owns 1,202 shares of the iPhone maker’s stock worth $136,000 after buying an additional 1,052 shares in the last quarter. Finally, Welch Investments LLC bought a new stake in shares of Apple during the fourth quarter worth $146,000. 58.76% of the stock is owned by institutional investors and hedge funds.
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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