Apple (NASDAQ:AAPL) Stock Rating Reaffirmed by Credit Suisse Group

Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating reiterated by analysts at Credit Suisse Group in a research report issued on Tuesday, Borsen Zeitung reports. They presently have a $221.00 price objective on the iPhone maker’s stock. Credit Suisse Group’s price objective indicates a potential downside of 15.75% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. BidaskClub raised shares of Apple from a “buy” rating to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley upped their target price on shares of Apple from $289.00 to $296.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Cascend Securities upped their target price on shares of Apple from $270.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Daiwa Capital Markets set a $223.00 target price on shares of Apple and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Sanford C. Bernstein set a $205.00 target price on shares of Apple and gave the company a “hold” rating in a report on Tuesday, September 3rd. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $244.54.

Shares of NASDAQ:AAPL traded down $0.87 on Tuesday, reaching $262.32. The company’s stock had a trading volume of 1,208,680 shares, compared to its average volume of 28,296,387. The stock’s 50-day moving average is $245.18 and its two-hundred day moving average is $212.75. Apple has a 52-week low of $142.00 and a 52-week high of $268.00. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50. The stock has a market capitalization of $1,180.84 billion, a P/E ratio of 22.06, a PEG ratio of 1.89 and a beta of 1.25.

Apple (NASDAQ:AAPL) last announced its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The business had revenue of $64.04 billion during the quarter, compared to analysts’ expectations of $62.86 billion. During the same period in the prior year, the company earned $2.91 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Apple will post 13.17 earnings per share for the current fiscal year.

In other Apple news, CFO Luca Maestri sold 61,659 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $228.38, for a total transaction of $14,081,682.42. Following the transaction, the chief financial officer now directly owns 85,507 shares in the company, valued at $19,528,088.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.17, for a total transaction of $54,668,037.20. The disclosure for this sale can be found here. Insiders have sold 448,158 shares of company stock worth $97,019,630 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in shares of Apple by 2.6% in the second quarter. Invesco Ltd. now owns 46,879,136 shares of the iPhone maker’s stock valued at $9,278,319,000 after purchasing an additional 1,203,705 shares during the last quarter. Morgan Stanley lifted its stake in shares of Apple by 5.8% during the second quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock valued at $7,176,836,000 after buying an additional 1,996,126 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Apple by 2,874.9% during the second quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock valued at $7,108,275,000 after buying an additional 34,707,634 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Apple by 0.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 20,240,790 shares of the iPhone maker’s stock valued at $4,006,058,000 after buying an additional 161,912 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Apple by 2.2% during the third quarter. Fisher Asset Management LLC now owns 14,041,509 shares of the iPhone maker’s stock valued at $3,144,877,000 after buying an additional 302,917 shares during the period. Institutional investors and hedge funds own 59.51% of the company’s stock.

Apple Company Profile

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.

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Analyst Recommendations for Apple (NASDAQ:AAPL)

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