Apple Inc. (NASDAQ:AAPL) has been assigned a $200.00 price objective by equities researchers at Morgan Stanley in a research note issued on Friday, November 3rd. The brokerage presently has a “buy” rating on the iPhone maker’s stock. Morgan Stanley’s price objective suggests a potential upside of 15.39% from the stock’s previous close.
A number of other brokerages have also commented on AAPL. Needham & Company LLC reiterated a “buy” rating and set a $175.00 target price (up previously from $165.00) on shares of Apple in a report on Wednesday, August 2nd. They noted that the move was a valuation call. Cleveland Research upgraded Apple from a “neutral” rating to a “buy” rating and set a $197.00 target price on the stock in a report on Tuesday, August 29th. Bank of America Corporation reiterated a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Apple in a report on Wednesday, August 2nd. Canaccord Genuity reiterated a “buy” rating and set a $180.00 target price on shares of Apple in a report on Monday, July 10th. Finally, UBS AG reissued a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Monday, July 31st. Seven research analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $200.24.
Shares of Apple (NASDAQ AAPL) traded up $3.35 during trading on Friday, hitting $173.33. The company had a trading volume of 15,267,745 shares, compared to its average volume of 27,166,291. Apple has a twelve month low of $108.25 and a twelve month high of $176.24. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $889,010.00, a PE ratio of 18.50, a PEG ratio of 1.36 and a beta of 1.25.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. During the same period in the previous year, the firm earned $1.50 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. research analysts predict that Apple will post 11.18 earnings per share for the current fiscal year.
In other news, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $172.35, for a total transaction of $2,695,726.35. Following the sale, the insider now directly owns 39,682 shares of the company’s stock, valued at approximately $6,839,192.70. The disclosure for this sale can be found here. Insiders have sold 410,352 shares of company stock valued at $65,356,512 in the last ninety days. Insiders own 0.08% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in AAPL. Fox Run Management L.L.C. purchased a new stake in shares of Apple in the first quarter valued at about $201,000. Harvest Capital Management Inc grew its holdings in shares of Apple by 2.1% in the first quarter. Harvest Capital Management Inc now owns 6,612 shares of the iPhone maker’s stock valued at $950,000 after purchasing an additional 135 shares during the period. Iowa State Bank grew its holdings in shares of Apple by 7.2% in the first quarter. Iowa State Bank now owns 44,586 shares of the iPhone maker’s stock valued at $6,405,000 after purchasing an additional 2,993 shares during the period. Torch Wealth Management LLC grew its holdings in shares of Apple by 1.2% in the first quarter. Torch Wealth Management LLC now owns 47,484 shares of the iPhone maker’s stock valued at $6,822,000 after purchasing an additional 571 shares during the period. Finally, Graybill Bartz & Assoc Ltd. grew its holdings in shares of Apple by 1.8% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 35,488 shares of the iPhone maker’s stock valued at $5,098,000 after purchasing an additional 618 shares during the period. 59.87% of the stock is owned by hedge funds and other institutional investors.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.