Apple Inc. (AAPL) Receives “Outperform” Rating from Royal Bank Of Canada

Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank Of Canada in a research report issued on Tuesday. They presently have a $180.00 price target on the iPhone maker’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 15.50% from the stock’s current price.

AAPL has been the subject of several other reports. Vetr raised Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price objective on the stock in a research note on Friday, September 22nd. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $170.00 price objective on shares of Apple in a research note on Wednesday, June 21st. Nomura reissued a “buy” rating and issued a $165.00 price objective on shares of Apple in a research note on Wednesday, July 5th. Maxim Group raised their price objective on Apple from $171.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 19th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $180.00 price objective on shares of Apple in a research note on Tuesday, September 26th. Nine equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $189.61.

Apple (AAPL) traded down 0.029% during trading on Tuesday, hitting $155.795. 11,073,858 shares of the company were exchanged. The stock’s 50-day moving average is $157.95 and its 200-day moving average is $151.28. The company has a market capitalization of $804.72 billion, a price-to-earnings ratio of 17.688 and a beta of 1.27. Apple has a 12 month low of $104.08 and a 12 month high of $164.94.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. During the same period last year, the company posted $1.42 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Apple will post $9.01 earnings per share for the current year.

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In other news, insider Craig Federighi sold 63,163 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $158.07, for a total value of $9,984,175.41. Following the transaction, the insider now owns 359,988 shares of the company’s stock, valued at $56,903,303.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold a total of 541,177 shares of company stock worth $85,864,804 in the last three months. Insiders own 0.08% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Sky Asset Management LLC bought a new position in Apple in the second quarter valued at $108,000. Hefty Wealth Partners increased its stake in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 174 shares during the last quarter. FNY Managed Accounts LLC increased its stake in Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 716 shares during the last quarter. American Beacon Advisors Inc. bought a new position in Apple in the first quarter valued at $117,000. Finally, Private Vista LLC bought a new position in Apple in the second quarter valued at $122,000. 60.36% of the stock is currently 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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