Nomura reaffirmed their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note issued to investors on Wednesday. Nomura currently has a $165.00 price objective on the iPhone maker’s stock.
Other analysts also recently issued reports about the stock. Raymond James Financial, Inc. reiterated an outperform rating and issued a $159.00 price target (up from $152.00) on shares of Apple in a research report on Monday, April 3rd. Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $150.00 price target on shares of Apple in a research report on Wednesday, April 12th. Rosenblatt Securities reiterated a neutral rating and issued a $120.00 price target on shares of Apple in a research report on Monday, April 17th. FBN Securities increased their price target on shares of Apple from $155.00 to $160.00 and gave the company an outperform rating in a research report on Thursday, May 4th. Finally, Deutsche Bank AG reiterated a hold rating and issued a $130.00 price target on shares of Apple in a research report on Tuesday, June 6th. Eleven analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and two have issued a strong buy rating to the stock. Apple currently has an average rating of Buy and a consensus price target of $160.92.
Apple (AAPL) opened at 144.18 on Wednesday. The stock has a market capitalization of $751.73 billion, a P/E ratio of 16.91 and a beta of 1.31. The stock has a 50 day moving average of $150.30 and a 200 day moving average of $137.42. Apple has a 52-week low of $96.05 and a 52-week high of $156.65.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. The business had revenue of $52.90 billion for the quarter, compared to the consensus estimate of $52.61 billion. Apple had a net margin of 20.74% and a return on equity of 35.09%. On average, equities research analysts forecast that Apple will post $8.93 EPS for the current year.
In related news, insider Luca Maestri sold 6,308 shares of the firm’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $141.83, for a total transaction of $894,663.64. Following the transaction, the insider now directly owns 2,665 shares in the company, valued at approximately $377,976.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $155.32, for a total value of $1,855,918.68. Following the transaction, the insider now owns 13,049 shares in the company, valued at $2,026,770.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,359 shares of company stock worth $55,684,675. 0.08% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Stonehearth Capital Management LLC raised its stake in shares of Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares in the last quarter. Noven Financial Group Inc. raised its stake in shares of Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock worth $857,000 after buying an additional 22 shares in the last quarter. Sippican Capital Advisors raised its stake in shares of Apple by 0.5% in the first quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock worth $706,000 after buying an additional 26 shares in the last quarter. Cordasco Financial Network raised its stake in shares of Apple by 1.0% in the first quarter. Cordasco Financial Network now owns 3,184 shares of the iPhone maker’s stock worth $457,000 after buying an additional 31 shares in the last quarter. Finally, Wall Street Access Asset Management LLC raised its stake in shares of Apple by 0.3% in the fourth quarter. Wall Street Access Asset Management LLC now owns 18,345 shares of the iPhone maker’s stock worth $2,124,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 61.26% of the company’s stock.
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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