Apple’s (AAPL) Outperform Rating Reiterated at Credit Suisse Group AG
Credit Suisse Group AG restated their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a report published on Thursday morning. Credit Suisse Group AG currently has a $150.00 price target on the iPhone maker’s stock.
“Super Hit,,” the firm’s analyst commented.
Several other analysts have also recently weighed in on the company. Piper Jaffray Cos. restated an overweight rating and set a $153.00 price target on shares of Apple in a report on Tuesday, July 26th. Needham & Company LLC reiterated a buy rating and issued a $150.00 target price on shares of Apple in a report on Wednesday, July 20th. Vetr cut Apple from a hold rating to a sell rating and set a $105.47 target price on the stock. in a report on Monday, August 15th. Sanford C. Bernstein reduced their target price on Apple from $135.00 to $125.00 and set an outperform rating on the stock in a report on Monday, July 18th. Finally, Brean Capital reiterated a buy rating on shares of Apple in a report on Tuesday, September 13th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, forty-two have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $126.34.
Apple (NASDAQ:AAPL) opened at 113.57 on Thursday. The stock’s 50 day moving average is $108.35 and its 200 day moving average is $102.31. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The company has a market capitalization of $611.97 billion, a PE ratio of 13.24 and a beta of 1.14.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.04. The company had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.85 earnings per share. Analysts predict that Apple will post $8.26 EPS for the current fiscal year.
In related news, insider Johny Srouji sold 9,827 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $108.44, for a total transaction of $1,065,639.88. Following the transaction, the insider now directly owns 116,369 shares of the company’s stock, valued at approximately $12,619,054.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 334,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $107.23, for a total value of $35,814,820.00. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in AAPL. Carnick & Kubik Group LLC purchased a new position in shares of Apple during the second quarter worth $1,471,000. Williams Jones & Associates LLC boosted its position in shares of Apple by 14.4% in the second quarter. Williams Jones & Associates LLC now owns 768,506 shares of the iPhone maker’s stock worth $73,469,000 after buying an additional 96,464 shares in the last quarter. Springowl Associates LLC purchased a new position in shares of Apple during the second quarter worth $860,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Apple during the second quarter worth $21,143,000. Finally, Kentucky Retirement Systems purchased a new position in shares of Apple during the second quarter worth $44,529,000. 56.45% of the stock is currently owned by institutional investors.
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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