Apple (NASDAQ:AAPL)‘s stock had its “hold” rating reaffirmed by investment analysts at Wells Fargo & Co in a report issued on Wednesday, December 27th. They currently have a $195.00 price target on the iPhone maker’s stock. Wells Fargo & Co’s target price points to a potential upside of 12.90% from the company’s previous close.
Several other equities analysts have also recently weighed in on the company. Cleveland Research upgraded Apple from a “neutral” rating to a “buy” rating and set a $197.00 price objective on the stock in a report on Tuesday, August 29th. Drexel Hamilton reiterated a “buy” rating and set a $208.00 price objective on shares of Apple in a report on Tuesday, October 24th. Citigroup reiterated a “buy” rating and set a $200.00 price objective on shares of Apple in a report on Wednesday, December 13th. Piper Jaffray Companies reiterated a “buy” rating and set a $200.00 price objective (up previously from $196.00) on shares of Apple in a report on Tuesday, October 31st. Finally, Barclays set a $146.00 target price on Apple and gave the company a “neutral” rating in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Apple currently has an average rating of “Buy” and a consensus target price of $198.70.
Apple (NASDAQ AAPL) traded up $0.49 during trading on Wednesday, hitting $172.72. The stock had a trading volume of 13,110,000 shares, compared to its average volume of 26,590,000. The firm has a market cap of $886,780.00, a price-to-earnings ratio of 18.79, a P/E/G ratio of 1.41 and a beta of 1.23. Apple has a 52 week low of $115.75 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 data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. Apple had a return on equity of 36.29% and a net margin of 21.09%. The business had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter in the previous year, the business posted $1.50 EPS. Apple’s revenue for the quarter was up 12.2% on a year-over-year basis. equities research analysts expect that Apple will post 11.18 EPS for the current fiscal year.
In related news, insider Johny Srouji sold 10,368 shares of Apple stock in a transaction on Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the sale, the insider now directly owns 81,560 shares in the company, valued at $14,246,900.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eduardo H. Cue sold 65,361 shares of Apple stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. Insiders sold 112,771 shares of company stock worth $19,381,421 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Pineno Levin & Ford Asset Management Inc. grew its position in Apple by 1.3% during the first quarter. Pineno Levin & Ford Asset Management Inc. now owns 5,618 shares of the iPhone maker’s stock worth $807,000 after buying an additional 73 shares in the last quarter. Lincoln National Corp grew its position in Apple by 19.4% during the first quarter. Lincoln National Corp now owns 62,809 shares of the iPhone maker’s stock worth $9,023,000 after buying an additional 10,204 shares in the last quarter. Fairfield Bush & CO. grew its position in Apple by 21.5% during the first quarter. Fairfield Bush & CO. now owns 46,940 shares of the iPhone maker’s stock worth $6,743,000 after buying an additional 8,300 shares in the last quarter. Jaffetilchin Investment Partners LLC grew its position in Apple by 2.0% during the first quarter. Jaffetilchin Investment Partners LLC now owns 43,345 shares of the iPhone maker’s stock worth $6,227,000 after buying an additional 848 shares in the last quarter. Finally, Zweig DiMenna Associates LLC grew its position in Apple by 69.1% during the first quarter. Zweig DiMenna Associates LLC now owns 147,560 shares of the iPhone maker’s stock worth $21,198,000 after buying an additional 60,292 shares in the last quarter. Institutional investors and hedge funds own 59.61% of the company’s stock.
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.