Todays Report: The Apple Inc. (AAPL) Earns “Outperform” Rating from Credit Suisse Group AG

The Apple Inc. (AAPL) Earns “Outperform” Rating from Credit Suisse Group AG

Credit Suisse Group AG reaffirmed their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a report issued on Wednesday. Credit Suisse Group AG currently has a $150.00 price objective on the iPhone maker’s stock.

A number of other research firms have also recently issued reports on AAPL. Citigroup Inc. reissued a buy rating and set a $130.00 price objective on shares of Apple in a research report on Wednesday, October 26th. Barclays PLC reissued an overweight rating and set a $114.00 price objective (down previously from $117.00) on shares of Apple in a research report on Wednesday, October 26th. BMO Capital Markets reissued an outperform rating and set a $140.00 price objective on shares of Apple in a research report on Wednesday, October 26th. Wells Fargo & Co. reissued a market perform rating and set a $112.50 price objective on shares of Apple in a research report on Wednesday, October 26th. Finally, JPMorgan Chase & Co. reissued an overweight rating and set a $107.00 price objective on shares of Apple in a research report on Wednesday, October 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $128.07.

Apple (NASDAQ:AAPL) opened at 113.72 on Wednesday. Apple has a 12-month low of $89.47 and a 12-month high of $123.82. The company’s 50-day moving average price is $114.12 and its 200-day moving average price is $104.15. The company has a market cap of $606.39 billion, a PE ratio of 13.68 and a beta of 1.22.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.01. The business had revenue of $46.85 billion for the quarter, compared to analysts’ expectations of $46.88 billion. Apple had a net margin of 21.19% and a return on equity of 35.59%. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.96 earnings per share. Equities analysts anticipate that Apple will post $9.00 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Monday, November 7th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, November 3rd. Apple’s dividend payout ratio (DPR) is presently 27.57%.

In other news, SVP D Bruce Sewell sold 23,305 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $107.49, for a total transaction of $2,505,054.45. Following the sale, the senior vice president now directly owns 239,329 shares of the company’s stock, valued at $25,725,474.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the business’s stock in a transaction on Friday, August 26th. The stock was 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. Insiders own 0.08% of the company’s stock.

Several large investors have recently made changes to their positions in AAPL. Bouchey Financial Group Ltd raised its stake in shares of Apple by 3.3% in the first quarter. Bouchey Financial Group Ltd now owns 101,841 shares of the iPhone maker’s stock worth $11,100,000 after buying an additional 3,282 shares during the period. Narwhal Capital Management raised its position in Apple by 0.4% in the first quarter. Narwhal Capital Management now owns 79,785 shares of the iPhone maker’s stock valued at $8,696,000 after buying an additional 305 shares during the last quarter. Boston Advisors LLC raised its position in Apple by 6.2% in the first quarter. Boston Advisors LLC now owns 1,310,136 shares of the iPhone maker’s stock valued at $142,792,000 after buying an additional 76,528 shares during the last quarter. Advocacy Wealth Management Services LLC raised its position in Apple by 68.1% in the first quarter. Advocacy Wealth Management Services LLC now owns 10,561 shares of the iPhone maker’s stock valued at $529,000 after buying an additional 4,277 shares during the last quarter. Finally, HHG & Company LLC raised its position in Apple by 37.1% in the first quarter. HHG & Company LLC now owns 50,206 shares of the iPhone maker’s stock valued at $5,472,000 after buying an additional 13,598 shares during the last quarter. 56.35% of the stock is currently owned by institutional investors.

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