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.
Apple Company Profile