Apple (AAPL) Stock Rating Reaffirmed by Macquarie

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by analysts at Macquarie in a research note issued to investors on Monday. They currently have a $235.00 price objective on the iPhone maker’s stock. Macquarie’s target price indicates a potential upside of 9.46% from the company’s current price.

A number of other equities analysts have also recently weighed in on AAPL. BidaskClub raised Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Atlantic Securities reissued a “neutral” rating and issued a $205.00 price target on shares of Apple in a research note on Wednesday, August 1st. BMO Capital Markets lifted their price target on Apple from $184.00 to $199.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Wells Fargo & Co reissued a “neutral” rating and issued a $210.00 price target on shares of Apple in a research note on Monday. Finally, Sanford C. Bernstein reissued a “neutral” rating and issued a $200.00 price target on shares of Apple in a research note on Wednesday, August 1st. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirty-two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $225.09.

NASDAQ:AAPL traded up $2.46 during mid-day trading on Monday, reaching $214.70. 305,850 shares of the stock were exchanged, compared to its average volume of 33,439,684. The firm has a market cap of $1,063.14 billion, a P/E ratio of 23.30, a PEG ratio of 1.66 and a beta of 1.36. Apple has a 1-year low of $150.24 and a 1-year 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.



Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, topping the Zacks’ 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%. Apple’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. Sell-side analysts expect that Apple will post 11.77 EPS for the current year.

In related news, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Luca Maestri sold 100,245 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $228.56, for a total value of $22,911,997.20. Following the completion of the transaction, the insider now directly owns 91,665 shares in the company, valued at $20,950,952.40. The disclosure for this sale can be found here. Insiders sold a total of 564,185 shares of company stock worth $124,444,213 over the last three months. 0.06% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Fort L.P. bought a new position in Apple in the 2nd quarter worth approximately $119,000. Delphi Private Advisors LLC bought a new position in Apple in the 2nd quarter worth approximately $120,000. Cranbrook Wealth Management LLC increased its position in Apple by 76.1% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock worth $129,000 after buying an additional 302 shares during the period. Brand Asset Management Group Inc. bought a new position in Apple in the 2nd quarter worth approximately $134,000. Finally, Quattro Financial Advisors LLC bought a new position in Apple in the 1st quarter worth approximately $133,000. 58.43% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Apple (NASDAQ:AAPL)

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