Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by Morgan Stanley in a research note issued on Wednesday. They presently have a $199.00 price target on the iPhone maker’s stock. Morgan Stanley’s price target would indicate a potential upside of 27.56% from the company’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 target price for the company in a report on Friday, September 22nd. Nomura reaffirmed a “buy” rating and set a $165.00 target price on shares of Apple in a report on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $170.00 target price on shares of Apple in a report on Wednesday, June 21st. Maxim Group increased their price objective on Apple from $171.00 to $180.00 and gave the stock 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 research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $189.40.
Shares of Apple (NASDAQ AAPL) traded up 0.51% on Wednesday, reaching $156.80. 3,085,203 shares of the company traded hands. Apple has a 52-week low of $104.08 and a 52-week high of $164.94. The company has a market capitalization of $809.91 billion, a PE ratio of 17.80 and a beta of 1.27. The firm has a 50-day moving average of $157.71 and a 200-day moving average of $151.46.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the 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 business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same period in the prior year, the business posted $1.42 earnings per share. Apple’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Apple will post $9.01 earnings per share for the current fiscal year.
In related news, SVP Johny Srouji sold 10,469 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the sale, the senior vice president now owns 76,250 shares of the company’s stock, valued at $12,367,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Federighi sold 63,163 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $158.07, for a total value of $9,984,175.41. Following the sale, the insider now directly owns 359,988 shares in the company, valued at approximately $56,903,303.16. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock worth $85,864,804 in the last ninety days. 0.08% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Saratoga Research & Investment Management grew its position in Apple by 0.6% during the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after buying an additional 4,137 shares in the last quarter. Pinnacle Bank acquired a new stake in Apple during the first quarter worth approximately $1,924,000. Green Square Capital LLC grew its position in Apple by 6.7% during the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after buying an additional 5,491 shares in the last quarter. Headinvest LLC grew its position in Apple by 2.5% during the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after buying an additional 390 shares in the last quarter. Finally, Nicolet Bankshares Inc. grew its position in Apple by 3.1% during the first quarter. Nicolet Bankshares Inc. now owns 27,684 shares of the iPhone maker’s stock worth $3,977,000 after buying an additional 844 shares in the last quarter. 60.36% of the stock is currently owned by institutional investors and hedge funds.
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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