Rosenblatt Securities reissued their hold rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report released on Sunday morning. The firm currently has a $150.00 target price on the iPhone maker’s stock.
“We maintain our production estimates of 20 million and 50 million iPhone X for the December and March quarters, respectively.”,” the firm’s analyst commented.
A number of other equities research analysts also recently commented on AAPL. Maxim Group boosted their target price on Apple from $171.00 to $180.00 and gave the stock a buy rating in a research report on Monday, June 19th. Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $170.00 target price on shares of Apple in a research report on Wednesday, June 21st. UBS AG reiterated a buy rating and issued a $170.00 target price on shares of Apple in a research report on Friday, June 23rd. Pacific Crest reissued an equal weight rating on shares of Apple in a research note on Wednesday, June 28th. Finally, Citigroup Inc. reissued a buy rating and set a $160.00 price objective on shares of Apple in a research note on Tuesday, July 4th. Seven research analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $190.46.
Shares of Apple (NASDAQ:AAPL) traded up 1.5647% during trading on Friday, hitting $159.4464. The stock had a trading volume of 10,589,518 shares. Apple has a 12 month low of $104.08 and a 12 month high of $164.94. The stock has a 50 day moving average of $157.58 and a 200 day moving average of $151.69. The company has a market cap of $823.58 billion, a PE ratio of 18.1025 and a beta of 1.27.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. The company had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 earnings per share. Equities analysts forecast that Apple will post $9.01 EPS for the current fiscal year.
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In other news, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the transaction, the director now directly owns 1,168,283 shares in the company, valued at $184,098,035.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 541,177 shares of company stock worth $85,864,804. Company insiders own 0.08% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. First National Bank of Mount Dora Trust Investment Services increased its stake in shares of Apple by 8.6% during the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 34,987 shares of the iPhone maker’s stock worth $5,393,000 after acquiring an additional 2,766 shares during the period. Crow Point Partners LLC grew its position in Apple by 100.0% during the third quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock worth $153,000 after buying an additional 500 shares during the period. Parker Investment Management LLC grew its position in Apple by 2.1% during the third quarter. Parker Investment Management LLC now owns 22,714 shares of the iPhone maker’s stock worth $3,501,000 after buying an additional 470 shares during the period. McQueen Ball & Associates Inc. grew its position in Apple by 2.6% during the third quarter. McQueen Ball & Associates Inc. now owns 37,913 shares of the iPhone maker’s stock worth $5,843,000 after buying an additional 962 shares during the period. Finally, Curbstone Financial Management Corp grew its position in Apple by 89.2% during the third quarter. Curbstone Financial Management Corp now owns 47,132 shares of the iPhone maker’s stock worth $7,264,000 after buying an additional 22,216 shares during the period. Institutional investors and hedge funds own 60.33% 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.
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