Apple Inc. (AAPL) Given “Hold” Rating at Rosenblatt Securities
Rosenblatt Securities reiterated their hold rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report released on Sunday morning. The brokerage currently has a $150.00 target price on the iPhone maker’s stock.
“We maintain our production estimates of 20 million and 50 million iPhone X for the December and March quarters, respectively.”,” the firm’s analyst wrote.
A number of other equities analysts have also recently commented on the stock. Morgan Stanley lifted their price target on shares of Apple from $177.00 to $182.00 and gave the stock an overweight rating in a research note on Monday, July 17th. Needham & Company LLC reissued a buy rating and issued a $175.00 price objective (up from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Cleveland Research raised shares of Apple from a neutral rating to a buy rating and set a $197.00 price objective for the company in a research report on Tuesday, August 29th. Bank of America Corporation reissued a buy rating and issued a $180.00 price objective (up from $175.00) on shares of Apple in a research report on Wednesday, August 2nd. Finally, Canaccord Genuity reissued a buy rating and issued a $180.00 price objective on shares of Apple in a research report on Monday, July 10th. Seven equities research analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the company’s stock. Apple currently has a consensus rating of Buy and an average price target of $190.46.
Apple (AAPL) opened at 159.76 on Friday. The stock’s 50 day moving average is $157.52 and its 200 day moving average is $151.98. Apple has a 52 week low of $104.08 and a 52 week high of $164.94. The company has a market capitalization of $825.20 billion, a P/E ratio of 18.14 and a beta of 1.27.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the previous year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that Apple will post $9.01 earnings per share for the current year.
In related news, SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total value of $1,698,071.80. Following the transaction, the senior vice president now directly owns 76,250 shares in the company, valued at approximately $12,367,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP D Bruce Sewell sold 31,625 shares of Apple stock in a transaction on Monday, August 7th. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the completion of the transaction, the senior vice president now owns 112,430 shares in the company, valued at $17,778,555.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 541,177 shares of company stock worth $85,864,804. 0.08% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of AAPL. Janus Henderson Group PLC grew its position in Apple by 301.3% in the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after buying an additional 15,018,790 shares during the last quarter. Harbour Capital Advisors LLC grew its position in Apple by 14,030.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after buying an additional 4,483,360 shares during the last quarter. Capital Research Global Investors grew its position in Apple by 15.0% in the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after buying an additional 3,845,363 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Apple by 200.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,765,574 shares of the iPhone maker’s stock valued at $686,338,000 after buying an additional 3,178,809 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Apple by 25.3% in the 2nd quarter. Principal Financial Group Inc. now owns 10,582,632 shares of the iPhone maker’s stock valued at $1,524,110,000 after buying an additional 2,138,928 shares during the last quarter. Hedge funds and other institutional investors own 60.33% 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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