BidaskClub Upgrades Apple (NASDAQ:AAPL) to “Buy”

Apple (NASDAQ:AAPL) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, August 7th.

AAPL has been the subject of several other reports. Morgan Stanley reduced their price objective on Apple from $203.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, April 20th. BMO Capital Markets increased their target price on Apple from $171.00 to $184.00 and gave the company a “market perform” rating in a report on Monday, July 23rd. Wells Fargo & Co restated a “hold” rating and issued a $195.00 target price on shares of Apple in a report on Tuesday, April 24th. UBS Group restated a “buy” rating and issued a $210.00 target price on shares of Apple in a report on Monday, July 30th. Finally, Atlantic Securities restated a “neutral” rating and issued a $205.00 target price on shares of Apple in a report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $221.00.

NASDAQ AAPL traded up $2.60 on Tuesday, reaching $227.63. 43,253,200 shares of the stock traded hands, compared to its average volume of 30,830,258. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. The firm has a market cap of $1,079.86 billion, a P/E ratio of 24.72, a PEG ratio of 1.71 and a beta of 1.16. Apple has a 12 month low of $149.16 and a 12 month high of $228.87.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.16. The business had revenue of $53.27 billion during the quarter, compared to analyst estimates of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $1.67 EPS. research analysts predict that Apple will post 11.68 earnings per share for the current fiscal year.

In other Apple news, insider Angela J. Ahrendts sold 6,568 shares of Apple stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $188.81, for a total transaction of $1,240,104.08. Following the sale, the insider now directly owns 79,476 shares of the company’s stock, valued at $15,005,863.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 400,621 shares of company stock worth $85,281,642. 0.08% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAPL. Chicago Partners Investment Group LLC raised its stake in shares of Apple by 12.1% in the second quarter. Chicago Partners Investment Group LLC now owns 39,984 shares of the iPhone maker’s stock valued at $7,402,000 after acquiring an additional 4,316 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new position in shares of Apple in the second quarter valued at approximately $271,000. Truvestments Capital LLC bought a new position in shares of Apple in the second quarter valued at approximately $4,191,000. Farmers National Bank raised its stake in shares of Apple by 5.9% in the second quarter. Farmers National Bank now owns 12,231 shares of the iPhone maker’s stock valued at $2,260,000 after acquiring an additional 684 shares during the last quarter. Finally, HM Payson & Co. raised its stake in shares of Apple by 3.5% in the second quarter. HM Payson & Co. now owns 496,150 shares of the iPhone maker’s stock valued at $91,842,000 after acquiring an additional 16,586 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors.

About Apple

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: Google Finance Portfolio

Analyst Recommendations for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply