Apple (AAPL) Receives Buy Rating from Morgan Stanley

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating restated by equities researchers at Morgan Stanley in a note issued to investors on Friday. They presently have a $226.00 price target on the iPhone maker’s stock. Morgan Stanley’s price target would indicate a potential upside of 8.93% from the stock’s current price.

Several other research analysts have also weighed in on AAPL. Loop Capital boosted their price objective on shares of Apple from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, July 6th. Royal Bank of Canada restated a “buy” rating and set a $210.00 price objective on shares of Apple in a research note on Monday, July 9th. Bank of America restated a “buy” rating and set a $230.00 price objective (up from $225.00) on shares of Apple in a research note on Tuesday, July 10th. Zacks Investment Research upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $213.00 price objective on the stock in a research note on Wednesday, July 11th. Finally, Sanford C. Bernstein set a $190.00 price objective on shares of Apple and gave the stock a “neutral” rating in a research note on Monday, July 16th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-nine have given a buy rating to the company. Apple currently has an average rating of “Buy” and an average target price of $224.67.

Shares of Apple stock traded down $14.74 during trading on Friday, hitting $207.48. 91,040,966 shares of the stock were exchanged, compared to its average volume of 35,635,216. The firm has a market capitalization of $1,075.73 billion, a PE ratio of 17.42, a P/E/G ratio of 1.55 and a beta of 1.26. Apple has a 1-year low of $150.24 and a 1-year high of $233.47. 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 released its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.13. The company had revenue of $62.90 billion for the quarter, compared to analyst estimates of $61.55 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. Apple’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 EPS. As a group, analysts expect that Apple will post 13.52 EPS for the current year.

In other Apple news, SVP Angela J. Ahrendts sold 14,194 shares of the business’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $227.96, for a total value of $3,235,664.24. Following the completion of the sale, the senior vice president now owns 105,538 shares of the company’s stock, valued at approximately $24,058,442.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The disclosure for this sale can be found here. Insiders sold a total of 544,185 shares of company stock valued at $120,312,613 in the last three months. Insiders own 0.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Greenleaf Trust lifted its holdings in shares of Apple by 0.3% during the 1st quarter. Greenleaf Trust now owns 128,927 shares of the iPhone maker’s stock worth $21,631,000 after acquiring an additional 445 shares during the period. Moisand Fitzgerald Tamayo LLC lifted its holdings in shares of Apple by 30.3% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 3,700 shares of the iPhone maker’s stock worth $621,000 after acquiring an additional 860 shares during the period. Viridian Ria LLC bought a new stake in shares of Apple during the 1st quarter worth approximately $525,000. Reilly Financial Advisors LLC lifted its holdings in shares of Apple by 4.1% during the 1st quarter. Reilly Financial Advisors LLC now owns 100,333 shares of the iPhone maker’s stock worth $16,834,000 after acquiring an additional 3,918 shares during the period. Finally, BigSur Wealth Management LLC lifted its holdings in shares of Apple by 17.5% during the 1st quarter. BigSur Wealth Management LLC now owns 14,415 shares of the iPhone maker’s stock worth $2,419,000 after acquiring an additional 2,150 shares during the period. 58.43% of the stock is owned by hedge funds and other institutional investors.

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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