Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating restated by research analysts at Nomura in a report issued on Monday. They presently have a $175.00 price objective on the iPhone maker’s stock. Nomura’s price target indicates a potential downside of 0.14% from the stock’s current price.
Several other research firms also recently weighed in on AAPL. Zacks Investment Research downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. Mizuho reiterated a “neutral” rating and set a $175.00 price target (up previously from $160.00) on shares of Apple in a research note on Friday, January 19th. Barclays set a $174.00 price target on Apple and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Vetr downgraded Apple from a “buy” rating to a “hold” rating and set a $184.49 price target for the company. in a research note on Tuesday, February 27th. Finally, Bank of America downgraded Apple from a “buy” rating to a “neutral” rating and increased their price target for the stock from $180.00 to $220.00 in a research note on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $201.53.
Apple stock opened at $175.24 on Monday. The stock has a market capitalization of $903,275.88, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.34 and a beta of 1.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20. Apple has a 12 month low of $138.62 and a 12 month high of $183.50.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.82 by $0.07. The company had revenue of $88.29 billion during the quarter, compared to the consensus estimate of $87.62 billion. Apple had a return on equity of 37.37% and a net margin of 21.13%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.36 EPS. equities research analysts expect that Apple will post 11.43 earnings per share for the current fiscal year.
In other news, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the sale, the insider now directly owns 13,739 shares in the company, valued at approximately $2,401,302.42. The sale was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Beach Investment Management LLC. lifted its stake in shares of Apple by 1,517.7% in the 2nd quarter. Beach Investment Management LLC. now owns 178,109 shares of the iPhone maker’s stock valued at $25,651,000 after purchasing an additional 167,099 shares during the period. Financial Advisory Service Inc. lifted its stake in shares of Apple by 2.4% in the 2nd quarter. Financial Advisory Service Inc. now owns 24,953 shares of the iPhone maker’s stock valued at $3,594,000 after purchasing an additional 580 shares during the period. HL Financial Services LLC lifted its stake in shares of Apple by 0.4% in the 2nd quarter. HL Financial Services LLC now owns 1,455,836 shares of the iPhone maker’s stock valued at $209,671,000 after purchasing an additional 5,548 shares during the period. SignalPoint Asset Management LLC lifted its stake in shares of Apple by 2.6% in the 2nd quarter. SignalPoint Asset Management LLC now owns 60,464 shares of the iPhone maker’s stock valued at $8,707,000 after purchasing an additional 1,555 shares during the period. Finally, Global X Management Co. LLC lifted its stake in shares of Apple by 4.5% in the 2nd quarter. Global X Management Co. LLC now owns 35,809 shares of the iPhone maker’s stock valued at $5,157,000 after purchasing an additional 1,554 shares during the period. Hedge funds and other institutional investors own 61.33% of the company’s stock.
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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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