Published On: Sun, Sep 18th, 2016

Apple Inc. (AAPL) Raised to “Buy” at Vetr Inc.

Apple Inc. (NASDAQ:AAPL) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage currently has a $111.96 price target on the iPhone maker’s stock. Vetr‘s price target suggests a potential downside of 2.58% from the stock’s current price.
Several other equities analysts have also recently weighed in on AAPL. Raymond James Financial Inc. reaffirmed a “hold” rating on shares of Apple in a report on Saturday, July 9th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Apple in a report on Sunday, July 17th. Barclays PLC reaffirmed a “buy” rating on shares of Apple in a report on Sunday, July 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Apple in a report on Friday, June 3rd. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Apple in a report on Sunday, May 22nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, forty-two have given a buy rating and two have given a strong buy rating to the stock. Apple currently has a consensus rating of “Buy” and a consensus price target of $126.02.
Shares of Apple (NASDAQ:AAPL) traded down 0.56% during mid-day trading on Monday, hitting $114.92. The stock had a trading volume of 79,886,911 shares. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The firm has a market cap of $619.24 billion, a PE ratio of 13.40 and a beta of 1.14. The stock has a 50 day moving average price of $106.77 and a 200 day moving average price of $101.83.

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Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.04. The business earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 EPS. Equities research analysts expect that Apple will post $8.26 EPS for the current fiscal year.
In related news, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the transaction, the senior vice president now directly owns 105,839 shares in the company, valued at $10,583,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 49,883 shares of the business’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $106.19, for a total transaction of $5,297,075.77. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Canal Capital Management LLC raised its position in Apple by 0.8% in the fourth quarter. Canal Capital Management LLC now owns 19,127 shares of the iPhone maker’s stock worth $2,013,000 after buying an additional 148 shares during the last quarter. Girard Securities Inc. purchased a new position in Apple during the fourth quarter valued at $2,754,000. CCM Investment Advisers LLC raised its position in Apple by 5.4% in the fourth quarter. CCM Investment Advisers LLC now owns 319,893 shares of the iPhone maker’s stock valued at $33,671,000 after buying an additional 16,363 shares during the last quarter. Capital Advisors Inc. OK raised its position in Apple by 1.5% in the fourth quarter. Capital Advisors Inc. OK now owns 179,865 shares of the iPhone maker’s stock valued at $18,933,000 after buying an additional 2,681 shares during the last quarter. Finally, Altfest L J & Co. Inc. raised its position in Apple by 1.0% in the fourth quarter. Altfest L J & Co. Inc. now owns 23,717 shares of the iPhone maker’s stock valued at $2,496,000 after buying an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 56.52% of the company’s stock.
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.

To view Vetr’s full report, visit Vetr’s official website.

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