Apple Inc. (NASDAQ:AAPL) Rating Increased to Buy at Vetr Inc.

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.

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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.

About Apple

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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