Trade Report: The Apple Inc. (AAPL) Earns “Outperform” Rating from RBC Capital Markets

The Apple Inc. (AAPL) Earns “Outperform” Rating from RBC Capital Markets

Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating reiterated by equities research analysts at RBC Capital Markets in a research note issued to investors on Monday. They presently have a $125.00 price target on the iPhone maker’s stock. RBC Capital Markets’ target price suggests a potential upside of 6.27% from the company’s previous close.

Several other equities research analysts also recently weighed in on AAPL. Vetr raised shares of Apple from a “buy” rating to a “strong-buy” rating and set a $107.09 target price on the stock in a research note on Monday, June 20th. Nomura reiterated a “buy” rating and set a $120.00 price target on shares of Apple in a report on Tuesday, June 21st. Mizuho reiterated a “buy” rating and set a $120.00 price target on shares of Apple in a report on Tuesday, June 21st. Cowen and Company reiterated an “outperform” rating and set a $125.00 price target on shares of Apple in a report on Wednesday, June 22nd. Finally, Canaccord Genuity lowered their price target on shares of Apple from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-three have issued a buy rating and two have given a strong buy rating to the company. Apple presently has an average rating of “Buy” and an average price target of $126.74.

Apple (NASDAQ:AAPL) traded down 0.506% on Monday, hitting $117.035. 13,528,434 shares of the company’s stock were exchanged. The company has a market cap of $630.64 billion, a PE ratio of 13.647 and a beta of 1.22. 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 $111.56 and its 200-day moving average price is $103.65.

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

In other Apple news, CEO Timothy D. Cook sold 334,000 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.23, for a total value of $35,814,820.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel J. Riccio sold 22,381 shares of the stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $113.06, for a total value of $2,530,395.86. Following the completion of the transaction, the insider now directly owns 47,043 shares in the company, valued at approximately $5,318,681.58. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Cordasco Financial Network raised its stake in Apple by 0.4% in the second quarter. Cordasco Financial Network now owns 3,353 shares of the iPhone maker’s stock worth $321,000 after buying an additional 12 shares in the last quarter. Cidel Asset Management Inc. raised 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 in the last quarter. Boston Standard Wealth Management LLC raised 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 in the last quarter. Lbmc Investment Advisors LLC raised 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 in the last quarter. Finally, Summit Financial Strategies Inc. raised 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 in the last quarter. 56.41% of the stock is currently owned by hedge funds and other institutional investors.

About Apple

Related posts

Leave a Comment