Trading Report: The Apple Inc. (AAPL) Stock Rating Reaffirmed by Drexel Hamilton

The Apple Inc. (AAPL) Stock Rating Reaffirmed by Drexel Hamilton

Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by analysts at Drexel Hamilton in a report released on Monday. They presently have a $185.00 price objective on the iPhone maker’s stock. Drexel Hamilton’s price target points to a potential upside of 59.00% from the stock’s previous close.

AAPL has been the topic of a number of other reports. Piper Jaffray Cos. upgraded Apple to an “overweight” rating and set a $151.00 target price on the stock in a research report on Friday, September 16th. Canaccord Genuity reiterated a “buy” rating and issued a $140.00 target price (up from $120.00) on shares of Apple in a research report on Monday, September 12th. Nomura upped their price objective on Apple from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 22nd. Mizuho restated a “buy” rating and set a $120.00 price objective on shares of Apple in a research report on Thursday, September 1st. Finally, Wells Fargo & Co. restated a “market perform” rating on shares of Apple in a research report on Friday, September 9th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $126.13.

Apple (NASDAQ:AAPL) opened at 116.30 on Monday. The company has a market cap of $626.68 billion, a PE ratio of 13.56 and a beta of 1.22. Apple has a 52-week low of $89.47 and a 52-week high of $123.82. The firm has a 50-day moving average price of $110.78 and a 200-day moving average price of $103.36.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.85 earnings per share. On average, analysts forecast that Apple will post $8.26 EPS for the current year.

In other Apple news, insider Johny Srouji sold 9,827 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $108.44, for a total transaction of $1,065,639.88. Following the sale, the insider now directly owns 116,369 shares in the company, valued at approximately $12,619,054.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 334,000 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $35,814,820.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Apple by 0.4% in the second quarter. Vanguard Group Inc. now owns 331,395,817 shares of the iPhone maker’s stock worth $31,681,440,000 after buying an additional 1,408,642 shares during the period. BlackRock Group LTD increased its stake in Apple by 1.6% in the second quarter. BlackRock Group LTD now owns 48,083,386 shares of the iPhone maker’s stock worth $4,596,772,000 after buying an additional 759,339 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock worth $3,991,635,000 after buying an additional 301,502 shares during the last quarter. Legal & General Group Plc increased its stake in Apple by 2.6% in the second quarter. Legal & General Group Plc now owns 24,474,691 shares of the iPhone maker’s stock worth $2,339,700,000 after buying an additional 625,760 shares during the last quarter. Finally, Cohen & Steers Inc. increased its stake in Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock worth $999,482,000 after buying an additional 22,303,795 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

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