Apple Inc. (AAPL) Receives Consensus Rating of “Buy” from Analysts

Shares of Apple Inc. (NASDAQ:AAPL) have been given a consensus recommendation of “Buy” by the fifty-two research firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, nineteen have assigned a hold recommendation and thirty have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $224.66.

AAPL has been the subject of several research analyst reports. Tigress Financial reaffirmed a “buy” rating on shares of Apple in a research report on Thursday, August 30th. Robert W. Baird set a $230.00 price target on shares of Apple and gave the stock a “buy” rating in a research report on Tuesday, September 4th. New Street Research reaffirmed a “sell” rating on shares of Apple in a research report on Tuesday, September 18th. Needham & Company LLC upped their price target on shares of Apple from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 13th. Finally, Bank of America reaffirmed a “buy” rating on shares of Apple in a research report on Tuesday, October 9th.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the transaction, the senior vice president now owns 105,538 shares in the company, valued at $24,554,471.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 564,185 shares of company stock valued at $124,444,213. Company insiders own 0.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. FMR LLC lifted its stake in Apple by 3.0% in the second quarter. FMR LLC now owns 103,652,293 shares of the iPhone maker’s stock valued at $19,187,075,000 after acquiring an additional 3,019,688 shares during the last quarter. Summit Trail Advisors LLC raised its position in shares of Apple by 17,669.4% in the first quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock valued at $20,181,000 after purchasing an additional 20,067,124 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Apple by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 19,817,792 shares of the iPhone maker’s stock valued at $3,668,472,000 after purchasing an additional 207,520 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Apple by 6.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock valued at $3,148,443,000 after purchasing an additional 1,030,981 shares during the period. Finally, Swiss National Bank raised its position in shares of Apple by 1.8% in the second quarter. Swiss National Bank now owns 16,874,216 shares of the iPhone maker’s stock valued at $3,123,586,000 after purchasing an additional 304,600 shares during the period. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Shares of AAPL traded up $3.43 on Friday, hitting $219.45. 1,888,959 shares of the stock traded hands, compared to its average volume of 33,486,650. Apple has a 1 year low of $150.24 and a 1 year high of $233.47. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. The company has a market capitalization of $1,087.18 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.70 and a beta of 1.36.

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

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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