Apple (AAPL) Lifted to “Buy” at Bank of America

Bank of America upgraded shares of Apple (NASDAQ:AAPL) from a neutral rating to a buy rating in a research note released on Monday, MarketBeat.com reports. The firm currently has $210.00 price target on the iPhone maker’s stock, up from their previous price target of $180.00. The analysts noted that the move was a valuation call.

AAPL has been the topic of several other research reports. JPMorgan Chase & Co. restated a buy rating and set a $228.00 price target on shares of Apple in a report on Friday, January 11th. Royal Bank of Canada restated a buy rating and set a $185.00 price target on shares of Apple in a report on Friday, January 18th. Rosenblatt Securities set a $165.00 price target on Apple and gave the company a neutral rating in a report on Thursday, December 6th. ValuEngine lowered Apple from a buy rating to a hold rating in a research note on Friday, March 1st. Finally, Loop Capital lowered Apple from a buy rating to a hold rating and set a $145.69 target price on the stock. in a research note on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and twenty-three have given a buy rating to the stock. Apple presently has a consensus rating of Hold and an average target price of $193.19.

NASDAQ:AAPL opened at $183.73 on Monday. Apple has a fifty-two week low of $142.00 and a fifty-two week high of $233.47. The firm has a market cap of $889.20 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.25 and a current ratio of 1.30.



Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.17 by $0.01. Apple had a return on equity of 50.92% and a net margin of 22.72%. The company had revenue of $84.31 billion for the quarter, compared to analyst estimates of $84.07 billion. Sell-side analysts forecast that Apple will post 11.38 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Monday, February 11th were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, February 8th. Apple’s payout ratio is 24.52%.

In other news, Director Arthur D. Levinson sold 1,521 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $167.71, for a total transaction of $255,086.91. Following the transaction, the director now owns 1,134,804 shares of the company’s stock, valued at approximately $190,317,978.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.05% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of AAPL. Oregon Public Employees Retirement Fund grew its position in shares of Apple by 11,234.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 160,579,635 shares of the iPhone maker’s stock worth $1,018,000 after buying an additional 159,162,851 shares in the last quarter. Norges Bank bought a new position in shares of Apple during the 4th quarter worth $7,500,354,000. Geode Capital Management LLC grew its position in shares of Apple by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 58,414,412 shares of the iPhone maker’s stock worth $9,198,612,000 after buying an additional 3,534,127 shares in the last quarter. Morgan Stanley grew its position in shares of Apple by 9.7% during the 3rd quarter. Morgan Stanley now owns 39,188,032 shares of the iPhone maker’s stock worth $8,846,307,000 after buying an additional 3,452,792 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Apple by 18.8% during the 3rd quarter. Janus Henderson Group PLC now owns 20,833,222 shares of the iPhone maker’s stock worth $4,703,027,000 after buying an additional 3,293,674 shares in the last quarter. 56.40% of the stock is currently owned by institutional investors and hedge funds.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Further Reading: Sell-Side Analysts

Analyst Recommendations for Apple (NASDAQ:AAPL)

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