Apple Inc. (AAPL) Given “Buy” Rating at Atlantic Securities

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.

ILLEGAL ACTIVITY NOTICE: This piece of content was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.chaffeybreeze.com/2017/04/21/atlantic-securities-reiterates-165-00-price-target-for-apple-inc-aapl-updated.html.

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.

About Apple

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.

5 Day Chart for NASDAQ:AAPL

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply