Apple (AAPL) Earns “Buy” Rating from Robert W. Baird

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by research analysts at Robert W. Baird in a note issued to investors on Monday. They presently have a $235.00 price objective on the iPhone maker’s stock. Robert W. Baird’s price target suggests a potential upside of 6.44% from the company’s previous close.

Several other equities analysts have also recently weighed in on AAPL. BidaskClub upgraded Apple from a “hold” rating to a “buy” rating in a research report on Tuesday, May 29th. Maxim Group cut Apple from a “buy” rating to a “hold” rating and reduced their target price for the stock from $204.00 to $200.00 in a research report on Wednesday, May 30th. UBS Group boosted their target price on Apple from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, June 1st. Royal Bank of Canada boosted their target price on Apple from $203.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 5th. Finally, Goldman Sachs Group restated a “neutral” rating and set a $164.00 target price on shares of Apple in a research report on Tuesday, June 5th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $217.66.

Shares of NASDAQ AAPL opened at $220.79 on Monday. The firm has a market capitalization of $1,069.83 billion, a PE ratio of 23.97, a P/E/G ratio of 1.92 and a beta of 1.32. Apple has a fifty-two week low of $149.16 and a fifty-two week high of $229.67. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.18 by $0.16. The company had revenue of $53.27 billion during the quarter, compared to analysts’ expectations of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.67 earnings per share. equities research analysts predict that Apple will post 11.76 earnings per share for the current year.

In other Apple news, insider Craig Federighi sold 47,796 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $207.50, for a total transaction of $9,917,670.00. Following the completion of the transaction, the insider now owns 412,571 shares of the company’s stock, valued at approximately $85,608,482.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. In the last three months, insiders sold 378,400 shares of company stock valued at $81,052,754. 0.06% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Old Port Advisors purchased a new position in shares of Apple during the 2nd quarter worth approximately $2,727,000. Royal London Asset Management Ltd. purchased a new position in shares of Apple during the 2nd quarter worth approximately $385,873,000. SP Asset Management purchased a new position in shares of Apple during the 2nd quarter worth approximately $6,307,000. HRT Financial LLC grew its holdings in shares of Apple by 233.0% during the 2nd quarter. HRT Financial LLC now owns 46,301 shares of the iPhone maker’s stock worth $8,570,000 after acquiring an additional 32,395 shares during the period. Finally, Planning Directions Inc. grew its holdings in shares of Apple by 6.8% during the 2nd quarter. Planning Directions Inc. now owns 18,512 shares of the iPhone maker’s stock worth $3,427,000 after acquiring an additional 1,181 shares during the period. 58.54% of the stock is owned by institutional investors and hedge funds.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Analyst Recommendations for Apple (NASDAQ:AAPL)

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