The Apple Inc. (AAPL) Given Overweight Rating at Morgan Stanley

The Apple Inc. (AAPL) Given Overweight Rating at Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report report published on Friday morning. They currently have a $124.00 target price on the iPhone maker’s stock.

A number of other equities analysts also recently issued reports on the company. Piper Jaffray Cos. reiterated an overweight rating and set a $153.00 price target on shares of Apple in a research report on Tuesday, July 26th. Credit Suisse Group AG restated an outperform rating and issued a $150.00 target price on shares of Apple in a research report on Thursday, September 15th. Goldman Sachs Group Inc. restated a buy rating and issued a $124.00 target price on shares of Apple in a research report on Wednesday, October 12th. Citigroup Inc. raised their target price on Apple from $120.00 to $130.00 and gave the company a buy rating in a research report on Friday, September 30th. Finally, Needham & Company LLC restated a buy rating and issued a $150.00 target price on shares of Apple in a research report on Wednesday, July 20th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-three have given a buy rating and two have given a strong buy rating to the stock. Apple currently has an average rating of Buy and an average target price of $126.74.

Apple (NASDAQ:AAPL) traded down 0.32% during trading on Friday, hitting $117.25. The stock had a trading volume of 11,680,038 shares. The company’s 50 day moving average is $111.56 and its 200-day moving average is $103.65. Apple has a 12 month low of $89.47 and a 12 month high of $123.82. The company has a market cap of $631.79 billion, a PE ratio of 13.67 and a beta of 1.22.

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

In other news, SVP Angela J. Ahrendts sold 35,797 shares of the firm’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $100.00, for a total value of $3,579,700.00. Following the sale, the senior vice president now directly owns 105,839 shares in the company, valued at approximately $10,583,900. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel J. Riccio sold 22,381 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $113.06, for a total transaction of $2,530,395.86. Following the completion of the sale, the insider now owns 47,043 shares in the company, valued at $5,318,681.58. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Weaver C. Barksdale & Associates Inc. bought a new stake in Apple during the third quarter worth $122,000. Penserra Capital Management LLC increased its stake in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares during the last quarter. Delphi Private Advisors LLC increased its stake in Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Apple during the second quarter worth $143,000. Finally, River & Mercantile Asset Management LLP increased its stake in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares during the last quarter. Institutional investors own 56.41% of the company’s stock.

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