Apple (AAPL) Stock Rating Reaffirmed by Morgan Stanley

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating restated by analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday. They currently have a $205.00 target price on the iPhone maker’s stock, up from their prior target price of $200.00. Morgan Stanley’s price objective would indicate a potential upside of 14.33% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Citigroup reaffirmed a “buy” rating and issued a $200.00 price target on shares of Apple in a report on Wednesday, December 13th. Drexel Hamilton reissued a “buy” rating and set a $208.00 target price on shares of Apple in a report on Tuesday, October 24th. Piper Jaffray Companies reissued a “buy” rating and set a $200.00 target price (up previously from $196.00) on shares of Apple in a report on Tuesday, October 31st. Vetr cut Apple from a “buy” rating to a “hold” rating and set a $171.48 target price for the company. in a report on Monday, October 30th. Finally, Nomura set a $185.00 target price on Apple and gave the company a “buy” rating in a report on Monday, November 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $200.70.

Apple (NASDAQ:AAPL) traded up $2.31 during midday trading on Tuesday, reaching $179.31. The company had a trading volume of 15,240,000 shares, compared to its average volume of 25,630,000. The firm has a market cap of $920,630.00, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. Apple has a 12 month low of $119.50 and a 12 month high of $180.10. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. The company had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. Apple’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.50 EPS. equities analysts anticipate that Apple will post 11.15 EPS for the current fiscal year.

In other news, insider Johny Srouji sold 10,368 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the transaction, the insider now directly owns 81,560 shares in the company, valued at $14,246,900.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Eduardo H. Cue sold 65,361 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. Insiders sold 128,412 shares of company stock valued at $22,115,155 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAPL. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Apple in the second quarter valued at $400,000. Blue Sky Asset Management LLC acquired a new stake in shares of Apple in the second quarter valued at $108,000. FNY Managed Accounts LLC raised its stake in shares of 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 in the last quarter. Armbruster Capital Management Inc. raised its stake in shares of Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after acquiring an additional 78 shares in the last quarter. Finally, Oak Point Wealth Management acquired a new stake in shares of Apple in the fourth quarter valued at $163,000. Institutional investors and hedge funds own 60.20% of the company’s stock.

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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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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