Apple Inc. (NASDAQ:AAPL) was upgraded by Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $165.48 price objective on the iPhone maker’s stock. Vetr‘s price target would indicate a potential upside of 5.08% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Oppenheimer Holdings, Inc. reissued a “” rating on shares of Apple in a research report on Thursday. Guggenheim reaffirmed a “buy” rating and set a $180.00 price target on shares of Apple in a research report on Wednesday, April 19th. Macquarie set a $160.00 price target on Apple and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $150.00 price target on shares of Apple in a research report on Tuesday, April 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $165.00 price target on shares of Apple in a research report on Tuesday, April 25th. Twelve research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $167.35.
Apple (NASDAQ:AAPL) opened at 157.48 on Thursday. Apple has a 12-month low of $102.53 and a 12-month high of $161.83. The stock’s 50 day moving average is $149.92 and its 200 day moving average is $144.27. The firm has a market cap of $813.42 billion, a P/E ratio of 17.88 and a beta of 1.31.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same quarter last year, the company earned $1.42 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Apple will post $9.02 EPS for the current year.
Apple announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other Apple news, insider Luca Maestri sold 4,757 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $154.70, for a total transaction of $735,907.90. Following the completion of the sale, the insider now owns 3,414 shares of the company’s stock, valued at approximately $528,145.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Johny Srouji sold 10,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $153.20, for a total transaction of $1,532,000.00. Following the sale, the senior vice president now directly owns 96,738 shares of the company’s stock, valued at approximately $14,820,261.60. The disclosure for this sale can be found here. Insiders sold a total of 299,911 shares of company stock valued at $46,557,634 in the last ninety days. 0.08% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Apple during the fourth quarter valued at $5,625,709,000. Legal & General Group Plc boosted its stake in shares of Apple by 3.0% in the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after buying an additional 771,046 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Apple by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 25,455,705 shares of the iPhone maker’s stock valued at $2,948,422,000 after buying an additional 1,156,639 shares during the last quarter. Swiss National Bank boosted its stake in shares of Apple by 1.5% in the second quarter. Swiss National Bank now owns 19,169,416 shares of the iPhone maker’s stock valued at $2,760,779,000 after buying an additional 275,400 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Apple by 3.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 18,282,663 shares of the iPhone maker’s stock valued at $2,633,070,000 after buying an additional 645,015 shares during the last quarter. 61.13% of the stock is owned by institutional investors and hedge funds.
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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