AAPL Stock: Apple Rating Reiterated by BMO Capital Markets

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Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by equities research analysts at BMO Capital Markets in a report released on Wednesday. They presently have a $199.00 price target on the iPhone maker’s stock. BMO Capital Markets’ price objective suggests a potential upside of 13.68% from the company’s previous close.

AAPL has been the topic of several other reports. Vetr upgraded shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price target on the stock in a report on Friday, September 22nd. Rosenblatt Securities restated a “hold” rating and set a $150.00 price target on shares of Apple in a report on Sunday, October 15th. Citigroup restated a “buy” rating and set a $200.00 price target (up from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. UBS set a $190.00 price target on shares of Apple and gave the stock a “buy” rating in a report on Monday, December 4th. Finally, Bank of America restated a “buy” rating and set a $180.00 price target on shares of Apple in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $197.22.

Shares of Apple (NASDAQ:AAPL) traded up $0.04 during midday trading on Wednesday, hitting $175.05. 6,379,717 shares of the stock were exchanged, compared to its average volume of 27,227,686. The firm has a market capitalization of $898,560.00, a PE ratio of 18.95, a P/E/G ratio of 1.40 and a beta of 1.24. Apple has a 52-week low of $114.76 and a 52-week high of $177.20. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same period in the previous year, the company earned $1.50 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. research analysts forecast that Apple will post 11.18 EPS for the current year.

In related news, SVP Johny Srouji sold 5,760 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the sale, the senior vice president now directly owns 81,560 shares of the company’s stock, valued at approximately $14,224,064. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold a total of 232,967 shares of company stock worth $37,944,683 over the last three months. 0.08% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. LaFleur & Godfrey LLC bought a new position in shares of Apple in the 1st quarter worth approximately $28,234,000. Verity & Verity LLC lifted its stake in shares of Apple by 4.3% in the 1st quarter. Verity & Verity LLC now owns 59,562 shares of the iPhone maker’s stock worth $8,557,000 after purchasing an additional 2,471 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Apple by 23.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock worth $1,334,527,000 after purchasing an additional 1,749,797 shares during the period. Orca Investment Management LLC lifted its stake in shares of Apple by 78.2% in the 1st quarter. Orca Investment Management LLC now owns 25,033 shares of the iPhone maker’s stock worth $3,596,000 after purchasing an additional 10,986 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI lifted its stake in shares of Apple by 2.8% in the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 75,432 shares of the iPhone maker’s stock worth $10,837,000 after purchasing an additional 2,065 shares during the period. 59.62% of the stock is currently owned by hedge funds and other institutional investors.

About Apple

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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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