Apple Inc. (AAPL) Rating Reiterated by Sanford C. Bernstein
Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Sanford C. Bernstein in a report issued on Wednesday. They presently have a $175.00 price target on the iPhone maker’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 7.97% from the stock’s previous close.
A number of other research firms have also recently weighed in on AAPL. Barclays PLC reiterated a “hold” rating and issued a $146.00 target price on shares of Apple in a research note on Monday. Piper Jaffray Companies reiterated an “overweight” rating and issued a $190.00 target price on shares of Apple in a research note on Tuesday. Robert W. Baird reiterated a “buy” rating and issued a $172.00 target price on shares of Apple in a research note on Tuesday. Royal Bank Of Canada boosted their target price on shares of Apple from $176.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Eleven analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $168.67.
Shares of Apple (NASDAQ:AAPL) opened at 162.08 on Wednesday. Apple has a 12 month low of $102.53 and a 12 month high of $164.94. The firm has a market capitalization of $837.18 billion, a P/E ratio of 18.40 and a beta of 1.27. The firm’s 50-day moving average is $156.93 and its 200 day moving average is $148.33.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 earnings per share. On average, equities research analysts anticipate that Apple will post $9.02 EPS for the current year.
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In other Apple news, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $158.13, for a total value of $5,000,861.25. Following the completion of the transaction, the senior vice president now owns 112,430 shares in the company, valued at approximately $17,778,555.90. The disclosure for this sale can be found here. Insiders sold a total of 432,930 shares of company stock worth $69,008,577 in the last 90 days. 0.08% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Berkshire Hathaway Inc. lifted its holdings in Apple by 0.6% in the 2nd quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after purchasing an additional 834,854 shares in the last quarter. Norges Bank purchased a new position in Apple in the 4th quarter valued at $5,625,709,000. Capital Research Global Investors lifted its holdings in Apple by 15.0% in the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after purchasing an additional 3,845,363 shares in the last quarter. Legal & General Group Plc lifted its holdings in Apple by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after purchasing an additional 771,046 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Apple by 301.3% in the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after purchasing an additional 15,018,790 shares in the last quarter. Institutional investors own 60.44% of the company’s stock.
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.
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