Apple’s (AAPL) “Buy” Rating Reiterated at UBS Group

UBS Group reaffirmed their buy rating on shares of Apple (NASDAQ:AAPL) in a research report released on Wednesday, The Fly reports. UBS Group currently has a $250.00 price target on the iPhone maker’s stock.

AAPL has been the subject of several other reports. Rosenblatt Securities set a $200.00 price target on Apple and gave the company a buy rating in a report on Tuesday, October 30th. Nomura reissued a neutral rating and issued a $215.00 price target on shares of Apple in a report on Monday, October 29th. Macquarie reissued a buy rating and issued a $235.00 price target on shares of Apple in a report on Monday, October 29th. Wells Fargo & Co reissued a neutral rating and issued a $210.00 price target on shares of Apple in a report on Monday, October 29th. Finally, Bank of America reissued a buy rating and issued a $235.00 price target on shares of Apple in a report on Monday, October 29th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. Apple currently has an average rating of Buy and an average price target of $224.67.

Apple stock opened at $207.48 on Wednesday. Apple has a twelve month low of $150.24 and a twelve month high of $233.47. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. The company has a market cap of $1,019.79 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.47 and a beta of 1.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. Apple had a return on equity of 46.75% and a net margin of 22.41%. The company had revenue of $62.90 billion during the quarter, compared to analysts’ expectations of $61.55 billion. During the same period last year, the firm earned $2.07 EPS. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, research analysts forecast that Apple will post 13.48 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 12th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.41%. The ex-dividend date is Thursday, November 8th. Apple’s payout ratio is 24.52%.

In other Apple news, SVP Angela J. Ahrendts sold 14,194 shares of the firm’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the completion of the transaction, the senior vice president now owns 105,538 shares of the company’s stock, valued at $24,058,442.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. Insiders have sold 544,185 shares of company stock valued at $120,312,613 in the last three months. 0.08% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Gibraltar Capital Management Inc. grew its position in shares of Apple by 0.4% in the third quarter. Gibraltar Capital Management Inc. now owns 59,517 shares of the iPhone maker’s stock valued at $13,435,000 after purchasing an additional 235 shares during the period. West Chester Capital Advisors Inc. grew its position in shares of Apple by 1.5% in the third quarter. West Chester Capital Advisors Inc. now owns 15,824 shares of the iPhone maker’s stock valued at $3,572,000 after purchasing an additional 236 shares during the period. PICTET BANK & TRUST Ltd grew its position in shares of Apple by 0.5% in the second quarter. PICTET BANK & TRUST Ltd now owns 45,134 shares of the iPhone maker’s stock valued at $8,355,000 after purchasing an additional 240 shares during the period. Ironwood Financial llc grew its position in shares of Apple by 9.5% in the third quarter. Ironwood Financial llc now owns 2,775 shares of the iPhone maker’s stock valued at $626,000 after purchasing an additional 241 shares during the period. Finally, Capital Investment Services of America Inc. grew its position in shares of Apple by 10.0% in the third quarter. Capital Investment Services of America Inc. now owns 2,703 shares of the iPhone maker’s stock valued at $610,000 after purchasing an additional 245 shares during the period. 58.43% of the stock is owned by institutional investors.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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