Apple Inc. (NASDAQ:AAPL)‘s stock had its “overweight” rating reissued by research analysts at Piper Jaffray Cos. in a research report issued to clients and investors on Monday. They presently have a $153.00 price target on the iPhone maker’s stock. Piper Jaffray Cos.’s target price indicates a potential upside of 53.26% from the stock’s current price.
Shares of Apple (NASDAQ:AAPL) traded up 1.06% during midday trading on Monday, hitting $99.83. 36,446,371 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $96.88 and its 200-day moving average is $99.49. The stock has a market cap of $546.81 billion and a PE ratio of 11.11. Apple has a 1-year low of $89.47 and a 1-year high of $132.97.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, April 26th. The iPhone maker reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.00 by $0.10. The company had revenue of $50.56 billion for the quarter, compared to analyst estimates of $52 billion. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.33 earnings per share. Analysts predict that Apple will post $8.23 earnings per share for the current fiscal year.
A number of other research firms have also commented on AAPL. Raymond James Financial Inc. reaffirmed a “hold” rating on shares of Apple in a research note on Saturday, July 9th. Barclays PLC reaffirmed a “buy” rating on shares of Apple in a research note on Sunday. Credit Suisse Group AG reaffirmed a “buy” rating and set a $150.00 price objective on shares of Apple in a research note on Sunday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Apple in a research note on Friday, June 3rd. Finally, S&P Equity Research reaffirmed a “buy” rating on shares of Apple in a research note on Saturday, April 23rd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $126.55.
In other news, SVP Angela J. Ahrendts sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $100.00, for a total value of $5,000,000.00. Following the sale, the senior vice president now directly owns 147,971 shares of the company’s stock, valued at approximately $14,797,100. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the sale, the senior vice president now directly owns 97,971 shares in the company, valued at $9,797,100. The disclosure for this sale can be found here.
Several hedge funds recently modified their holdings of the company. Park National boosted its stake in shares of Apple by 2.4% in the fourth quarter. Park National now owns 217,154 shares of the iPhone maker’s stock worth $22,858,000 after buying an additional 5,098 shares in the last quarter. Goodman Financial Corp boosted its position in Apple by 0.5% in the fourth quarter. Goodman Financial Corp now owns 57,193 shares of the iPhone maker’s stock valued at $6,020,000 after buying an additional 288 shares during the period. HL Financial Services LLC boosted its position in Apple by 2.9% in the fourth quarter. HL Financial Services LLC now owns 1,092,102 shares of the iPhone maker’s stock valued at $114,956,000 after buying an additional 30,519 shares during the period. Horan Capital Management boosted its position in Apple by 1.5% in the fourth quarter. Horan Capital Management now owns 12,945 shares of the iPhone maker’s stock valued at $1,362,000 after buying an additional 188 shares during the period. Finally, HighPoint Advisor Group LLC boosted its position in Apple by 59.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 59,469 shares of the iPhone maker’s stock valued at $6,031,000 after buying an additional 22,183 shares during the period.
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.