Apple (NASDAQ:AAPL) Earns Outperform Rating from Cowen

Apple (NASDAQ:AAPL)‘s stock had its “outperform” rating reissued by research analysts at Cowen in a report issued on Wednesday, Briefing.com reports. They currently have a $180.00 target price on the iPhone maker’s stock. Cowen’s price target would indicate a potential upside of 22.41% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Wedbush reiterated a “buy” rating and set a $185.00 price objective on shares of Apple in a research note on Friday, September 3rd. UBS Group set a $175.00 price objective on Apple in a research report on Monday. New Street Research lowered shares of Apple from a “neutral” rating to a “sell” rating and set a $90.00 target price for the company. in a report on Friday, May 28th. The Goldman Sachs Group set a $140.00 price target on shares of Apple in a report on Tuesday. Finally, Fundamental Research lifted their price objective on shares of Apple from $144.27 to $163.99 and gave the company a “buy” rating in a report on Tuesday, August 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, Apple currently has a consensus rating of “Buy” and a consensus target price of $161.68.

Shares of Apple stock traded down $1.07 on Wednesday, reaching $147.05. The stock had a trading volume of 1,681,112 shares, compared to its average volume of 91,433,789. Apple has a 1 year low of $103.10 and a 1 year high of $157.26. The company has a 50 day moving average price of $148.32 and a 200 day moving average price of $135.13. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $2.43 trillion, a P/E ratio of 28.76, a P/E/G ratio of 2.10 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Monday, July 26th. The iPhone maker reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.29. Apple had a return on equity of 131.01% and a net margin of 25.00%. The company had revenue of $81.40 billion during the quarter, compared to analysts’ expectations of $73.48 billion. During the same period last year, the business posted $0.64 earnings per share. The firm’s revenue was up 36.4% compared to the same quarter last year. On average, analysts forecast that Apple will post 5.59 earnings per share for the current fiscal year.

In other news, SVP Deirdre O’brien sold 14,877 shares of the firm’s stock in a transaction on Friday, August 6th. The shares were sold at an average price of $145.99, for a total value of $2,171,893.23. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 2,386,440 shares of the stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $148.58, for a total value of $354,577,255.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,418,317 shares of company stock valued at $359,229,278. 0.06% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Apple by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,264,936,543 shares of the iPhone maker’s stock worth $173,245,709,000 after buying an additional 25,553,808 shares during the last quarter. FMR LLC grew its position in shares of Apple by 1.6% during the second quarter. FMR LLC now owns 350,462,986 shares of the iPhone maker’s stock worth $47,999,410,000 after acquiring an additional 5,510,838 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Apple by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 254,162,496 shares of the iPhone maker’s stock valued at $34,705,731,000 after acquiring an additional 4,356,200 shares during the period. Morgan Stanley boosted its stake in Apple by 2.8% during the 2nd quarter. Morgan Stanley now owns 125,859,709 shares of the iPhone maker’s stock worth $17,237,745,000 after purchasing an additional 3,472,624 shares during the period. Finally, Legal & General Group Plc grew its position in Apple by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 103,466,388 shares of the iPhone maker’s stock worth $14,170,746,000 after purchasing an additional 3,613,141 shares during the last quarter. Institutional investors and hedge funds own 56.38% of the company’s stock.

Apple Company Profile

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

Featured Article: Market Timing – The Benefits and the Danger

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.