ValuEngine Upgrades Apple (AAPL) to Buy

Apple (NASDAQ:AAPL) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Sunday.

AAPL has been the subject of several other reports. Vetr raised shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price target for the company in a report on Friday, September 22nd. Rosenblatt Securities reissued a “hold” rating and set a $150.00 price target on shares of Apple in a report on Sunday, October 15th. Citigroup reissued a “buy” rating and set a $200.00 price target (up from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. UBS Group set a $190.00 price target on shares of Apple and gave the stock a “buy” rating in a report on Monday, December 4th. Finally, Bank of America reissued a “buy” rating and set a $180.00 price target on shares of Apple in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $198.61.

Apple (NASDAQ AAPL) opened at $169.23 on Friday. The stock has a market cap of $878,380.00, a PE ratio of 18.41, a P/E/G ratio of 1.35 and a beta of 1.24. Apple has a 1-year low of $114.76 and a 1-year high of $177.20. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.50 earnings per share. analysts predict that Apple will post 11.18 EPS for the current fiscal year.

In related news, insider Johny Srouji sold 10,368 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the sale, the insider now directly owns 81,560 shares of the company’s stock, valued at approximately $14,246,900.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 39,682 shares of the company’s stock, valued at $6,839,192.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 176,159 shares of company stock valued at $29,156,485. Company insiders own 0.06% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AAPL. Zweig DiMenna Associates LLC boosted its holdings in shares of Apple by 69.1% in the 1st quarter. Zweig DiMenna Associates LLC now owns 147,560 shares of the iPhone maker’s stock valued at $21,198,000 after buying an additional 60,292 shares during the period. Blue Chip Partners Inc. boosted its holdings in shares of Apple by 1.5% in the 1st quarter. Blue Chip Partners Inc. now owns 23,941 shares of the iPhone maker’s stock valued at $3,439,000 after buying an additional 350 shares during the period. Grand Jean Capital Management Inc. boosted its holdings in shares of Apple by 19.8% in the 1st quarter. Grand Jean Capital Management Inc. now owns 123,804 shares of the iPhone maker’s stock valued at $17,786,000 after buying an additional 20,482 shares during the period. Financial Advisory Service Inc. boosted its holdings in shares of Apple by 8.6% in the 1st quarter. Financial Advisory Service Inc. now owns 24,373 shares of the iPhone maker’s stock valued at $3,501,000 after buying an additional 1,934 shares during the period. Finally, Holderness Investments Co. boosted its holdings in shares of Apple by 391.2% in the 1st quarter. Holderness Investments Co. now owns 32,038 shares of the iPhone maker’s stock valued at $4,603,000 after buying an additional 25,516 shares during the period. 59.61% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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