Apple’s (AAPL) “Buy” Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reissued their buy rating on shares of Apple (NASDAQ:AAPL) in a research report report published on Wednesday, December 20th. BMO Capital Markets currently has a $199.00 target price on the iPhone maker’s stock.

Several other research analysts also recently commented on AAPL. Barclays reaffirmed a hold rating and set a $146.00 target price on shares of Apple in a report on Monday, September 4th. Royal Bank of Canada reaffirmed an outperform rating and set a $180.00 target price on shares of Apple in a report on Monday, September 11th. Morgan Stanley reaffirmed an overweight rating and set a $194.00 target price (up from $182.00) on shares of Apple in a report on Tuesday, September 12th. Mizuho set a $160.00 target price on Apple and gave the stock a hold rating in a report on Wednesday, October 18th. Finally, Vetr downgraded Apple from a buy rating to a hold rating and set a $178.34 target price on the stock. in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. Apple presently has an average rating of Buy and an average target price of $198.94.

Apple (NASDAQ AAPL) traded up $1.81 during midday trading on Wednesday, hitting $177.09. The company had a trading volume of 25,299,298 shares, compared to its average volume of 26,680,000. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. Apple has a 12 month low of $118.22 and a 12 month high of $177.36. The firm has a market cap of $909,240.00, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. Apple had a return on equity of 36.29% and a net margin of 21.09%. The company had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. During the same quarter last year, the business posted $1.50 EPS. Apple’s revenue for the quarter was up 12.2% on a year-over-year basis. equities research analysts anticipate that Apple will post 11.18 EPS for the current year.

In other news, insider Eduardo H. Cue sold 65,361 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the completion of the transaction, the insider now owns 13,739 shares in the company, valued at approximately $2,401,302.42. The disclosure for this sale can be found here. Insiders have sold a total of 128,412 shares of company stock valued at $22,115,155 in the last quarter. Company insiders own 0.08% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. purchased a new position in Apple in the second quarter valued at approximately $400,000. Blue Sky Asset Management LLC purchased a new position in Apple in the second quarter valued at approximately $108,000. FNY Managed Accounts LLC lifted its stake in Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares during the last quarter. Hefty Wealth Partners lifted its stake in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares during the last quarter. Finally, Armbruster Capital Management Inc. lifted its stake in Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 60.17% of the company’s stock.

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About Apple

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.

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