Apple (AAPL) Upgraded to “Buy” by BidaskClub

Apple (NASDAQ:AAPL) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other equities analysts have also recently weighed in on AAPL. Barclays increased their price target on Apple from $161.00 to $175.00 and gave the company an “equal weight” rating in a report on Tuesday, June 26th. Loop Capital increased their price target on Apple from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, July 6th. Royal Bank of Canada reissued a “buy” rating and set a $210.00 price target on shares of Apple in a report on Monday, July 9th. Bank of America reissued a “buy” rating and set a $230.00 price target (up from $225.00) on shares of Apple in a report on Tuesday, July 10th. Finally, Zacks Investment Research raised Apple from a “hold” rating to a “buy” rating and set a $213.00 price target on the stock in a report on Wednesday, July 11th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirty-one have given a buy rating to the company. Apple currently has a consensus rating of “Buy” and an average price target of $224.63.

Shares of NASDAQ AAPL traded down $2.27 during midday trading on Wednesday, hitting $217.53. 25,124,204 shares of the stock traded hands, compared to its average volume of 31,449,879. The stock has a market capitalization of $1,084.53 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.69 and a beta of 1.36. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24. Apple has a one year low of $150.24 and a one year high of $233.47.



Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.16. The firm had revenue of $53.27 billion for the quarter, compared to analysts’ expectations of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.67 EPS. Equities research analysts anticipate that Apple will post 11.76 EPS for the current year.

In other Apple news, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total value of $5,816,500.00. Following the completion of the sale, the senior vice president now owns 105,538 shares in the company, valued at approximately $24,554,471.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Angela J. Ahrendts sold 14,194 shares of the stock in a transaction on Friday, October 5th. The stock was sold at an average price of $227.96, for a total value of $3,235,664.24. Following the completion of the sale, the senior vice president now owns 105,538 shares of the company’s stock, valued at approximately $24,058,442.48. The disclosure for this sale can be found here. Insiders sold a total of 564,185 shares of company stock valued at $124,444,213 in the last quarter. 0.06% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of AAPL. Fort L.P. purchased a new position in shares of Apple during the second quarter valued at about $119,000. Delphi Private Advisors LLC purchased a new position in shares of Apple during the second quarter valued at about $120,000. Cranbrook Wealth Management LLC grew its position in shares of Apple by 76.1% during the second quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock valued at $129,000 after purchasing an additional 302 shares in the last quarter. Brand Asset Management Group Inc. purchased a new position in shares of Apple during the second quarter valued at about $134,000. Finally, Quattro Financial Advisors LLC purchased a new position in shares of Apple during the first quarter valued at about $133,000. Institutional investors and hedge funds own 58.51% of the company’s stock.

Apple Company Profile

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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