Apple Inc. (AAPL) Given Buy Rating at Drexel Hamilton

Drexel Hamilton reiterated their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report released on Monday morning. Drexel Hamilton currently has a $208.00 price target on the iPhone maker’s stock.

Several other equities analysts also recently commented on AAPL. Barclays PLC reiterated a hold rating and issued a $146.00 price objective on shares of Apple in a research note on Monday, September 4th. Instinet reiterated a buy rating and issued a $165.00 price objective on shares of Apple in a research note on Wednesday, July 5th. Royal Bank Of Canada reiterated an outperform rating and issued a $180.00 price objective on shares of Apple in a research note on Monday, September 11th. Morgan Stanley reiterated an overweight rating and issued a $194.00 price objective (up previously from $182.00) on shares of Apple in a research note on Tuesday, September 12th. Finally, Credit Suisse Group reiterated an outperform rating and issued a $170.00 price objective on shares of Apple in a research note on Tuesday, July 25th. Nine equities research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $189.40.

Shares of Apple (NASDAQ:AAPL) opened at 156.79 on Monday. Apple has a 52-week low of $104.08 and a 52-week high of $164.94. The stock has a 50 day moving average price of $157.71 and a 200-day moving average price of $151.46. The firm has a market capitalization of $809.86 billion, a PE ratio of 17.80 and a beta of 1.27.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter in the previous year, the business earned $1.42 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that Apple will post $9.01 EPS for the current year.

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In related news, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the completion of the transaction, the director now owns 1,168,283 shares of the company’s stock, valued at approximately $184,098,035.14. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock valued at $85,864,804 in the last quarter. 0.08% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. First National Bank of Mount Dora Trust Investment Services lifted its position in shares of Apple by 8.6% during the 3rd 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 buying an additional 2,766 shares during the last quarter. Crow Point Partners LLC lifted its position in shares of Apple by 100.0% during the 3rd 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 last quarter. Parker Investment Management LLC lifted its position in shares of Apple by 2.1% during the 3rd 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 last quarter. McQueen Ball & Associates Inc. lifted its position in shares of Apple by 2.6% during the 3rd 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 last quarter. Finally, Curbstone Financial Management Corp lifted its position in shares of Apple by 89.2% during the 3rd 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 last quarter. Institutional investors and hedge funds own 60.36% of the company’s stock.

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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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