Apple’s (AAPL) Neutral Rating Reaffirmed at Rosenblatt Securities

Apple (NASDAQ:AAPLGet Free Report)‘s stock had its “neutral” rating reissued by Rosenblatt Securities in a report released on Tuesday, Benzinga reports. They presently have a $196.00 target price on the iPhone maker’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 1.49% from the stock’s current price.

AAPL has been the subject of a number of other reports. Wedbush upped their price target on shares of Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Canaccord Genuity Group upped their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday, May 4th. Morgan Stanley restated an “overweight” rating and set a $216.00 price target on shares of Apple in a report on Tuesday. Bank of America reiterated a “buy” rating and issued a $230.00 target price on shares of Apple in a research note on Wednesday, May 29th. Finally, DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and increased their target price for the company from $200.00 to $230.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $207.47.

View Our Latest Research Report on AAPL

Apple Trading Down 1.9 %

NASDAQ AAPL opened at $193.12 on Tuesday. Apple has a 1-year low of $164.07 and a 1-year high of $199.62. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $2.96 trillion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.25. The firm’s fifty day simple moving average is $180.37 and its 200-day simple moving average is $183.39.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.52 earnings per share. As a group, sell-side analysts anticipate that Apple will post 6.57 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Apple

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 346,270 shares of company stock worth $60,880,196. Insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Several hedge funds and other institutional investors have recently modified their holdings of AAPL. Headinvest LLC boosted its holdings in Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after purchasing an additional 872 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Apple by 16.1% during the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after acquiring an additional 10,425 shares during the period. DNB Asset Management AS lifted its holdings in shares of Apple by 6.9% during the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after acquiring an additional 279,311 shares during the period. Boltwood Capital Management lifted its holdings in shares of Apple by 2.8% during the 4th quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock worth $7,158,000 after acquiring an additional 1,021 shares during the period. Finally, NewEdge Wealth LLC lifted its holdings in shares of Apple by 16.2% during the 4th quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker’s stock worth $155,701,000 after acquiring an additional 112,980 shares during the period. Institutional investors own 60.41% of the company’s stock.

About Apple

(Get Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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