Apple (AAPL) Stock Rating Reaffirmed by Macquarie

Macquarie reaffirmed their buy rating on shares of Apple (NASDAQ:AAPL) in a report issued on Monday morning. They currently have a $222.00 price target on the iPhone maker’s stock.

AAPL has been the subject of a number of other reports. New Street Research lowered Apple from a neutral rating to a sell rating in a research note on Monday, August 20th. Bank of America upped their price target on Apple from $250.00 to $256.00 and gave the company a buy rating in a research report on Monday, September 10th. Morgan Stanley upped their price target on Apple from $245.00 to $247.00 and gave the company an overweight rating in a research report on Thursday, September 13th. Oppenheimer reiterated a neutral rating on shares of Apple in a research report on Monday, October 1st. Finally, Goldman Sachs Group reiterated a neutral rating and issued a $240.00 price target on shares of Apple in a research report on Thursday, September 13th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-eight have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $224.27.

Shares of AAPL stock traded down $2.51 during trading hours on Monday, reaching $207.44. 9,988,564 shares of the company’s stock were exchanged, compared to its average volume of 41,911,264. Apple has a fifty-two week low of $150.24 and a fifty-two week high of $233.47. The firm has a market cap of $1,001.56 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. Apple had a return on equity of 48.68% and a net margin of 22.41%. The company had revenue of $62.90 billion during the quarter, compared to analyst estimates of $61.55 billion. During the same period in the previous year, the company earned $2.07 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, equities analysts predict that Apple will post 13.35 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 12th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.92 annualized dividend and a yield of 1.41%. Apple’s dividend payout ratio is presently 24.52%.

In other news, COO Jeffrey E. Williams sold 61,998 shares of the business’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $232.33, for a total transaction of $14,403,995.34. Following the completion of the transaction, the chief operating officer now owns 124,695 shares of the company’s stock, valued at approximately $28,970,389.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. Insiders sold a total of 480,737 shares of company stock valued at $107,157,170 over the last ninety days. Insiders own 0.08% of the company’s stock.

Several institutional investors have recently bought and sold shares of AAPL. Essex Financial Services Inc. grew its position in Apple by 0.5% during the 1st quarter. Essex Financial Services Inc. now owns 96,590 shares of the iPhone maker’s stock worth $16,206,000 after acquiring an additional 524 shares during the last quarter. Zeke Capital Advisors LLC grew its position in Apple by 17.1% during the 1st quarter. Zeke Capital Advisors LLC now owns 122,050 shares of the iPhone maker’s stock worth $20,478,000 after acquiring an additional 17,805 shares during the last quarter. Mackay Shields LLC bought a new stake in Apple during the 1st quarter worth $332,905,000. Annex Advisory Services LLC grew its position in Apple by 2.1% during the 1st quarter. Annex Advisory Services LLC now owns 28,371 shares of the iPhone maker’s stock worth $4,760,000 after acquiring an additional 578 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its position in Apple by 2.1% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 95,993 shares of the iPhone maker’s stock worth $16,106,000 after acquiring an additional 1,942 shares during the last quarter. 58.44% of the stock is owned by institutional investors.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Analyst Recommendations for Apple (NASDAQ:AAPL)

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