Apple Inc. (NASDAQ:AAPL)‘s stock had its “overweight” rating reissued by stock analysts at Pacific Crest in a research note issued on Friday. They presently have a $150.00 price target on the iPhone maker’s stock. Pacific Crest’s target price would suggest a potential upside of 6.06% from the stock’s current price.
Other research analysts have also issued research reports about the company. Oppenheimer Holdings Inc. reaffirmed a “” rating on shares of Apple in a report on Wednesday, February 22nd. Nomura reaffirmed a “buy” rating and set a $135.00 target price on shares of Apple in a report on Tuesday, December 6th. Instinet reaffirmed a “buy” rating and set a $135.00 target price on shares of Apple in a report on Monday, December 5th. Drexel Hamilton reaffirmed a “buy” rating and set a $185.00 target price on shares of Apple in a report on Sunday, November 27th. Finally, Citigroup Inc reaffirmed a “buy” rating and set a $130.00 target price on shares of Apple in a report on Thursday, December 15th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $140.24.
Apple (NASDAQ:AAPL) opened at 141.46 on Friday. The company has a 50-day moving average of $134.83 and a 200-day moving average of $119.06. Apple has a one year low of $89.47 and a one year high of $141.50. The company has a market cap of $742.18 billion, a price-to-earnings ratio of 16.98 and a beta of 1.26.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, January 31st. The iPhone maker reported $3.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.22 by $0.14. The business earned $78.35 billion during the quarter, compared to analyst estimates of $77.37 billion. Apple had a return on equity of 34.94% and a net margin of 20.73%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.28 EPS. Equities research analysts expect that Apple will post $8.94 EPS for the current fiscal year.
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In other Apple news, SVP D Bruce Sewell sold 75,000 shares of Apple stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $128.43, for a total transaction of $9,632,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Luca Maestri sold 2,300 shares of Apple stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $117.67, for a total value of $270,641.00. Following the sale, the insider now directly owns 4,632 shares of the company’s stock, valued at $545,047.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 403,844 shares of company stock valued at $51,434,527. 0.08% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Dodge & Cox purchased a new stake in shares of Apple during the fourth quarter worth $1,725,000. Israel Discount Bank of New York GFN purchased a new stake in shares of Apple during the fourth quarter worth $1,459,000. Access Financial Services Inc. purchased a new stake in shares of Apple during the fourth quarter worth $261,000. Vident Investment Advisory LLC raised its stake in shares of Apple by 82.2% in the fourth quarter. Vident Investment Advisory LLC now owns 11,392 shares of the iPhone maker’s stock worth $1,319,000 after buying an additional 5,139 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Apple during the fourth quarter worth $1,139,000. 58.76% of the stock is owned by institutional investors and hedge funds.
Apple Company Profile
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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