Trading Report: The Global Equities Research Reaffirmed Overweight Rating for Apple Inc. (AAPL)

The Global Equities Research Reaffirmed Overweight Rating for Apple Inc. (AAPL)

Global Equities Research reaffirmed their overweight rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report sent to investors on Wednesday. They currently have a $155.00 price target on the iPhone maker’s stock.

A number of other equities research analysts have also recently weighed in on the company. Credit Agricole SA reaffirmed a buy rating and set a $130.00 price target on shares of Apple in a report on Wednesday, October 26th. Credit Suisse Group AG reaffirmed an outperform rating and set a $150.00 price target on shares of Apple in a report on Wednesday, October 26th. Canaccord Genuity reaffirmed a buy rating and set a $140.00 price target on shares of Apple in a report on Wednesday, October 26th. Mizuho reaffirmed a buy rating and set a $130.00 price target on shares of Apple in a report on Wednesday, October 26th. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $140.00 price target on shares of Apple in a report on Wednesday, October 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have given a buy rating and two have issued a strong buy rating to the stock. Apple presently has an average rating of Buy and a consensus price target of $128.07.

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

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Monday, November 7th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, November 3rd. Apple’s dividend payout ratio is presently 27.57%.

In related news, insider Johny Srouji sold 9,827 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $108.44, for a total transaction of $1,065,639.88. Following the completion of the sale, the insider now directly owns 116,369 shares of the company’s stock, valued at $12,619,054.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Arthur D. Levinson sold 70,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $108.68, for a total value of $7,607,600.00. Following the sale, the director now directly owns 1,203,283 shares of the company’s stock, valued at $130,772,796.44. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Several large investors have recently modified their holdings of the company. Cordasco Financial Network increased its stake in shares of Apple by 0.4% in the second quarter. Cordasco Financial Network now owns 3,353 shares of the iPhone maker’s stock valued at $321,000 after buying an additional 12 shares in the last quarter. Cidel Asset Management Inc. increased its stake in Apple by 0.3% in the second quarter. Cidel Asset Management Inc. now owns 4,186 shares of the iPhone maker’s stock worth $400,000 after buying an additional 13 shares during the period. Boston Standard Wealth Management LLC increased its stake in Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock worth $218,000 after buying an additional 14 shares during the period. Lbmc Investment Advisors LLC increased its stake in Apple by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 5,110 shares of the iPhone maker’s stock worth $489,000 after buying an additional 15 shares during the period. Finally, Summit Financial Strategies Inc. increased its stake in Apple by 0.3% in the second quarter. Summit Financial Strategies Inc. now owns 6,533 shares of the iPhone maker’s stock worth $625,000 after buying an additional 19 shares during the period. 56.35% of the stock is owned by hedge funds and other institutional investors.

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