The Apple Inc. (AAPL) Earns Overweight Rating from Pacific Crest

The Apple Inc. (AAPL) Earns Overweight Rating from Pacific Crest

Apple Inc. (NASDAQ:AAPL)‘s stock had its “overweight” rating reaffirmed by equities researchers at Pacific Crest in a research report issued on Wednesday. They currently have a $121.00 price objective on the iPhone maker’s stock. Pacific Crest’s price objective points to a potential upside of 6.08% from the company’s previous close.

A number of other analysts have also commented on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $151.00 target price on shares of Apple in a report on Tuesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $102.00 target price on shares of Apple in a report on Monday, October 3rd. Wells Fargo & Co. reaffirmed a “market perform” rating and set a $112.50 target price on shares of Apple in a report on Friday, September 30th. Citigroup Inc. lifted their target price on shares of Apple from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, September 30th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $114.00 target price (down previously from $115.00) on shares of Apple in a report on Thursday, September 29th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, forty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $126.13.

Apple (NASDAQ:AAPL) traded up 0.15% during trading on Wednesday, hitting $114.06. 24,358,443 shares of the stock were exchanged. Apple has a 12-month low of $89.47 and a 12-month high of $123.82. The stock has a 50 day moving average price of $110.36 and a 200-day moving average price of $103.24. The firm has a market capitalization of $614.61 billion, a PE ratio of 13.30 and a beta of 1.22.

10/08/apple-inc-aapl-earns-overweight-rating-from-pacific-crest.html

Apple (NASDAQ:AAPL) last released 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. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. During the same quarter in the previous year, the business earned $1.85 EPS. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that Apple will post $8.26 earnings per share for the current fiscal year.

In other Apple news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 43,769 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $112.59, for a total value of $4,927,951.71. Following the sale, the chief operating officer now directly owns 90,657 shares of the company’s stock, valued at approximately $10,207,071.63. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

A number of large investors have recently bought and sold shares of AAPL. Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. BlackRock Group LTD boosted its position in shares of 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 in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of 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 in the last quarter. Legal & General Group Plc boosted its position in shares of 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 in the last quarter. Finally, Cohen & Steers Inc. boosted its position in shares of 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 in the last quarter. 56.46% of the stock is owned by hedge funds and other institutional investors.

Apple Company Profile

Related posts

Leave a Comment