Apple’s (AAPL) Neutral Rating Reiterated at Sanford C. Bernstein

Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating reaffirmed by Sanford C. Bernstein in a research note issued on Friday. They currently have a $210.00 price target on the iPhone maker’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 1.21% from the company’s previous close.

Several other research analysts also recently weighed in on AAPL. Macquarie reiterated a “buy” rating and issued a $235.00 price target on shares of Apple in a report on Monday, October 29th. Atlantic Securities reiterated a “neutral” rating and issued a $205.00 price target on shares of Apple in a report on Wednesday, August 1st. BidaskClub upgraded Apple from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. BMO Capital Markets boosted their price target on Apple from $184.00 to $199.00 and gave the company a “market perform” rating in a report on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Wells Fargo & Co reiterated a “neutral” rating and issued a $210.00 price target on shares of Apple in a report on Monday, October 29th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $224.67.

Shares of AAPL opened at $207.48 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24. The firm has a market capitalization of $1,019.79 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.47 and a beta of 1.26. Apple has a fifty-two week low of $150.24 and a fifty-two week high of $233.47.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.13. The company had revenue of $62.90 billion during the quarter, compared to the consensus estimate of $61.55 billion. Apple had a return on equity of 46.75% and a net margin of 22.41%. Apple’s revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.07 EPS. On average, analysts forecast that Apple will post 13.48 EPS for the current year.

In related news, SVP Angela J. Ahrendts sold 14,194 shares of the company’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the completion of the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at approximately $24,058,442.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at $24,554,471.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 544,185 shares of company stock valued at $120,312,613. 0.08% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in AAPL. Fort L.P. purchased a new position in Apple in the 2nd quarter valued at about $119,000. Delphi Private Advisors LLC acquired a new stake in shares of Apple in the 2nd quarter valued at about $120,000. Cranbrook Wealth Management LLC raised its stake in shares of Apple by 76.1% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock valued at $129,000 after purchasing an additional 302 shares in the last quarter. Quattro Financial Advisors LLC acquired a new stake in shares of Apple in the 1st quarter valued at about $133,000. Finally, Brand Asset Management Group Inc. acquired a new stake in shares of Apple in the 2nd quarter valued at about $134,000. 58.43% of the stock is owned by hedge funds and other institutional investors.

About Apple

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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