Todays Report: The William Blair Reaffirms Outperform Rating for Apple Inc. (AAPL)

The William Blair Reaffirms Outperform Rating for Apple Inc. (AAPL)

William Blair reaffirmed their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a report released on Monday.

Several other brokerages also recently issued reports on AAPL. Citigroup Inc. reissued a buy rating and set a $115.00 target price on shares of Apple in a research note on Wednesday, July 6th. Piper Jaffray Cos. reissued an overweight rating and set a $153.00 target price on shares of Apple in a research note on Tuesday, July 26th. Cowen and Company reissued an outperform rating and set a $125.00 target price on shares of Apple in a research note on Thursday, July 28th. BMO Capital Markets reissued an outperform rating and set a $140.00 target price (up from $116.00) on shares of Apple in a research note on Monday, September 19th. Finally, BTIG Research upped their price target on shares of Apple from $124.00 to $133.00 and gave the stock a buy rating in a research note on Thursday, September 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $126.34.

Apple (NASDAQ:AAPL) opened at 117.34 on Monday. The firm’s 50 day moving average price is $111.02 and its 200-day moving average price is $103.46. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The firm has a market cap of $632.28 billion, a PE ratio of 13.68 and a beta of 1.22.

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

In other news, SVP Angela J. Ahrendts sold 25,000 shares of the firm’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 transaction, the senior vice president now directly owns 105,839 shares in the company, valued at $10,583,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 43,769 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $112.59, for a total transaction of $4,927,951.71. Following the completion of the transaction, the chief operating officer now owns 90,657 shares of the company’s stock, valued at $10,207,071.63. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. F&V Capital Management LLC raised its stake in shares of Apple by 1.1% in the first quarter. F&V Capital Management LLC now owns 9,330 shares of the iPhone maker’s stock valued at $1,016,000 after buying an additional 100 shares during the last quarter. Tufton Capital Management raised its stake in shares of Apple by 22.9% in the first quarter. Tufton Capital Management now owns 6,158 shares of the iPhone maker’s stock valued at $671,000 after buying an additional 1,148 shares during the last quarter. RNC Capital Management LLC raised its stake in shares of Apple by 7.2% in the first quarter. RNC Capital Management LLC now owns 105,764 shares of the iPhone maker’s stock valued at $11,527,000 after buying an additional 7,110 shares during the last quarter. Osborn Rohs Williams & Donohoe Ltd raised its stake in shares of Apple by 0.6% in the first quarter. Osborn Rohs Williams & Donohoe Ltd now owns 99,607 shares of the iPhone maker’s stock valued at $10,856,000 after buying an additional 572 shares during the last quarter. Finally, Osborne Partners Capital Management LLC raised its stake in shares of Apple by 2.6% in the first quarter. Osborne Partners Capital Management LLC now owns 153,358 shares of the iPhone maker’s stock valued at $16,714,000 after buying an additional 3,830 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

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