BMO Capital Markets Reaffirms “Outperform” Rating for Apple Inc. (AAPL)
BMO Capital Markets reaffirmed their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a report issued on Monday. They currently have a $140.00 price objective on the iPhone maker’s stock, up from their prior price objective of $116.00.
A number of other analysts have also recently issued reports on the stock. Robert W. Baird reissued a buy rating on shares of Apple in a research note on Thursday, June 2nd. Piper Jaffray Cos. reissued a buy rating and issued a $153.00 price objective on shares of Apple in a research note on Wednesday, June 8th. Nomura reaffirmed a buy rating and set a $120.00 target price on shares of Apple in a research note on Monday, May 23rd. RBC Capital Markets reaffirmed an outperform rating and set a $115.00 target price on shares of Apple in a research note on Friday, August 5th. Finally, Vetr cut shares of Apple from a hold rating to a sell rating and set a $103.98 target price for the company. in a research note on Monday, August 8th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, forty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $126.34.
Shares of Apple (NASDAQ:AAPL) opened at 113.55 on Monday. Apple has a 1-year low of $89.47 and a 1-year high of $123.82. The company has a market capitalization of $611.86 billion, a P/E ratio of 13.24 and a beta of 1.14. The firm has a 50-day moving average of $108.61 and a 200 day moving average of $102.39.
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. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. During the same period last year, the firm earned $1.85 earnings per share. The company’s quarterly revenue was down 14.6% on a year-over-year basis. On average, analysts anticipate that Apple will post $8.26 EPS for the current year.
In related news, SVP Angela J. Ahrendts sold 35,797 shares of the business’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $100.00, for a total value of $3,579,700.00. Following the completion of the sale, the senior vice president now directly owns 105,839 shares in the company, valued at $10,583,900. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the sale, the senior vice president now owns 105,839 shares of the company’s stock, valued at $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Carnick & Kubik Group LLC bought a new stake in shares of Apple during the second quarter valued at about $1,471,000. Williams Jones & Associates LLC boosted its stake 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 valued at $73,469,000 after buying an additional 96,464 shares during the period. Springowl Associates LLC bought a new stake in shares of Apple during the second quarter valued at about $860,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Apple during the second quarter valued at about $21,143,000. Finally, Kentucky Retirement Systems bought a new stake in shares of Apple during the second quarter valued at about $44,529,000. Institutional investors and hedge funds own 56.45% 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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