May 26, 2017

Apple Inc. (AAPL) Receives Buy Rating from Goldman Sachs Group Inc.

Goldman Sachs Group Inc restated their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report sent to investors on Friday, May 12th. They currently have a $170.00 price target on the iPhone maker's stock, up from their prior price target of $164.00.

A number of other brokerages also recently issued reports on AAPL. Barclays PLC downgraded Apple from an overweight rating to an equal weight rating and reduced their price objective for the company from $119.00 to $117.00 in a research note on Tuesday, January 24th.

Rosenblatt Securities set a $120.00 price target on Apple and gave the stock a hold rating in a research note on Wednesday, May 3rd. Bank of America Corp increased their price objective on Apple from $125.00 to $140.00 and gave the stock a buy rating in a report on Thursday, January 19th. 

Vetr raised Apple from a hold rating to a buy rating and set a $146.43 price objective on the stock in a report on Monday, March 27th. Finally, Credit Suisse Group AG reaffirmed an outperform rating and issued a $171.00 price target (up previously from $163.00) on shares of Apple in a report on Wednesday, May 3rd.

Eight analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $157.06.

Shares of Apple (NASDAQ:AAPL) opened at 153.87 on Friday. The firm has a 50-day moving average of $147.75 and a 200 day moving average of $130.74. The company has a market capitalization of $802.25 billion, a P/E ratio of 18.05 and a beta of 1.26. Apple has a 52-week low of $91.50 and a 52-week high of $156.65.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.08. The business had revenue of $52.90 billion during the quarter, compared to analyst estimates of $52.61 billion. Apple had a return on equity of 34.94% and a net margin of 20.73%. On average, analysts anticipate that Apple will post $8.93 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were paid a dividend of $0.63 per share. This is a boost from Apple's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.64%. The ex-dividend date was Thursday, May 11th. Apple's dividend payout ratio is presently 27.31%.

In other news, insider Luca Maestri sold 6,308 shares of the stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $141.83, for a total value of $894,663.64. Following the completion of the transaction, the insider now owns 2,665 shares in the company, valued at approximately $377,976.95. The sale was disclosed in a filing with the SEC. Also, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $155.27, for a total transaction of $1,855,321.23. Following the completion of the transaction, the insider now owns 23,998 shares of the company's stock, valued at approximately $3,726,169.46. Over the last quarter, insiders have sold 420,686 shares of company stock valued at $63,066,393. Corporate insiders own 0.08% of the company's stock.

Several institutional investors have recently made changes to their positions in AAPL. West Coast Financial LLC boosted its position in shares of Apple by 12.5% in the third quarter. West Coast Financial LLC now owns 89,643 shares of the iPhone maker's stock worth $10,134,000 after buying an additional 9,950 shares in the last quarter. BARING ASSET MANAGEMENT Ltd boosted its position in shares of Apple by 1.2% in the third quarter. BARING ASSET MANAGEMENT Ltd now owns 119,586 shares of the iPhone maker's stock worth $13,519,000 after buying an additional 1,457 shares in the last quarter.

Shinko Asset Management Co. Ltd. boosted its position in shares of Apple by 12.4% in the third quarter. Shinko Asset Management Co. Ltd. now owns 62,788 shares of the iPhone maker's stock worth $7,098,000 after buying an additional 6,907 shares in the last quarter. Adirondack Trust Co. boosted its position in shares of Apple by 3.4% in the third quarter. Adirondack Trust Co. now owns 25,247 shares of the iPhone maker's stock worth $2,854,000 after buying an additional 825 shares in the last quarter. Finally, RKL Wealth Management LLC boosted its position in shares of Apple by 32.9% in the third quarter. RKL Wealth Management LLC now owns 13,872 shares of the iPhone maker's stock worth $1,568,000 after buying an additional 3,434 shares in the last quarter. Institutional investors own 58.76% of the company's stock.

Apple Company Profile

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.


The Markets Daily

by Tristan Rich