Apple Inc. (NASDAQ:AAPL) – Analysts at KeyCorp increased their Q1 2018 earnings per share (EPS) estimates for shares of Apple in a research note issued to investors on Sunday. KeyCorp analyst A. Hargreaves now expects that the iPhone maker will earn $4.06 per share for the quarter, up from their previous forecast of $3.91. KeyCorp has a “Overweight” rating and a $187.00 price objective on the stock. KeyCorp also issued estimates for Apple’s Q2 2018 earnings at $2.83 EPS, Q3 2018 earnings at $2.31 EPS, Q4 2018 earnings at $2.46 EPS and FY2018 earnings at $11.68 EPS.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during 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 was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS.
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Several other research analysts have also recently weighed in on AAPL. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Wednesday, June 21st. UBS AG reiterated a “buy” rating and set a $170.00 price target 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 report on Wednesday, June 28th. Citigroup Inc. reissued a “buy” rating and issued a $160.00 price objective on shares of Apple in a report on Tuesday, July 4th. Finally, Instinet reissued a “buy” rating and issued a $165.00 price objective on shares of Apple in a report on Wednesday, July 5th. Seven investment analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $190.46.
Shares of Apple (NASDAQ AAPL) traded down 0.29% on Tuesday, hitting $160.00. The company had a trading volume of 6,713,948 shares. The company has a market capitalization of $826.44 billion, a price-to-earnings ratio of 18.17 and a beta of 1.27. Apple has a 52 week low of $104.08 and a 52 week high of $164.94. The stock’s 50-day moving average is $157.58 and its 200 day moving average is $151.69.
A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. Longer Investments Inc. grew its position in Apple by 4.8% during the 1st quarter. Longer Investments Inc. now owns 23,232 shares of the iPhone maker’s stock worth $3,338,000 after purchasing an additional 1,068 shares in the last quarter. Univest Corp of Pennsylvania grew its position in Apple by 2.3% during the 1st quarter. Univest Corp of Pennsylvania now owns 33,344 shares of the iPhone maker’s stock worth $4,790,000 after purchasing an additional 739 shares in the last quarter. P.R. Herzig & Co. Inc. grew its position in Apple by 2.7% during the 1st quarter. P.R. Herzig & Co. Inc. now owns 11,375 shares of the iPhone maker’s stock worth $1,634,000 after purchasing an additional 300 shares in the last quarter. Pennsylvania Trust Co grew its position in Apple by 1.2% during the 1st quarter. Pennsylvania Trust Co now owns 233,400 shares of the iPhone maker’s stock worth $33,530,000 after purchasing an additional 2,684 shares in the last quarter. Finally, Portfolio Solutions LLC purchased a new position in Apple during the 1st quarter worth approximately $169,000. Hedge funds and other institutional investors own 60.33% of the company’s stock.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the transaction, the director now owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock worth $85,864,804 in the last ninety days. 0.08% of the stock is owned by corporate insiders.
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.
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