Apple (AAPL) Receives “Buy” Rating from Morgan Stanley

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by stock analysts at Morgan Stanley in a report issued on Friday. They currently have a $226.00 price objective on the iPhone maker’s stock. Morgan Stanley’s price target would suggest a potential upside of 8.93% from the stock’s previous close.

Several other equities research analysts also recently issued reports on AAPL. Loop Capital increased their target price on Apple from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, July 6th. Royal Bank of Canada reiterated a “buy” rating and issued a $210.00 price objective on shares of Apple in a research report on Monday, July 9th. Bank of America reiterated a “buy” rating and issued a $230.00 price objective (up previously from $225.00) on shares of Apple in a research report on Tuesday, July 10th. Zacks Investment Research upgraded Apple from a “hold” rating to a “buy” rating and set a $213.00 price objective on the stock in a research report on Wednesday, July 11th. Finally, Sanford C. Bernstein set a $190.00 price objective on Apple and gave the stock a “neutral” rating in a research report on Monday, July 16th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $224.67.

NASDAQ:AAPL opened at $207.48 on Friday. The firm has a market cap of $1,019.79 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.47 and a beta of 1.26. Apple has a 1 year low of $150.24 and a 1 year high of $233.47. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. The firm had revenue of $62.90 billion for the quarter, compared to the consensus estimate of $61.55 billion. Apple had a return on equity of 46.75% and a net margin of 22.41%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.07 earnings per share. On average, analysts predict that Apple will post 13.48 earnings per share for the current fiscal year.

In other news, COO Jeffrey E. Williams sold 61,998 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $232.33, for a total transaction of $14,403,995.34. Following the transaction, the chief operating officer now directly owns 124,695 shares of the company’s stock, valued at $28,970,389.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total value of $5,816,500.00. Following the transaction, the senior vice president now directly owns 105,538 shares in the company, valued at $24,554,471.08. The disclosure for this sale can be found here. In the last three months, insiders sold 544,185 shares of company stock worth $120,312,613. 0.08% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Canandaigua National Bank & Trust Co. grew its stake in shares of Apple by 1.2% in the third quarter. Canandaigua National Bank & Trust Co. now owns 54,269 shares of the iPhone maker’s stock worth $12,251,000 after purchasing an additional 624 shares during the last quarter. Chicago Capital LLC grew its stake in shares of Apple by 8.2% in the third quarter. Chicago Capital LLC now owns 129,794 shares of the iPhone maker’s stock worth $29,300,000 after purchasing an additional 9,810 shares during the last quarter. Buckingham Asset Management LLC grew its stake in shares of Apple by 3.6% in the third quarter. Buckingham Asset Management LLC now owns 105,238 shares of the iPhone maker’s stock worth $23,756,000 after purchasing an additional 3,672 shares during the last quarter. First Long Island Investors LLC grew its stake in shares of Apple by 0.3% in the third quarter. First Long Island Investors LLC now owns 95,738 shares of the iPhone maker’s stock worth $21,612,000 after purchasing an additional 326 shares during the last quarter. Finally, Bingham Osborn & Scarborough LLC grew its stake in shares of Apple by 0.4% in the third quarter. Bingham Osborn & Scarborough LLC now owns 60,738 shares of the iPhone maker’s stock worth $13,711,000 after purchasing an additional 253 shares during the last quarter. 58.43% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Conference Calls

Analyst Recommendations for Apple (NASDAQ:AAPL)

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