Apple Inc (NASDAQ:AAPL) Rating
In a research report sent to clients and investors on Thursday morning, Apple Inc (NASDAQ:AAPL) stock Overweight was reconfirmed by Analysts at Barclays Capital. They currently have a $114.00 target price on the stock. Barclays Capital’s target price would suggest a potential upside of 0.04% from the company’s previous close.
Out of 36 analysts covering Apple (NASDAQ:AAPL), 32 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 89% are positive. $200 is the highest target while $102 is the lowest. The $128.38 average target is 12.66% above today’s ($113.95) stock price. Apple has been the topic of 100 analyst reports since October 1, 2015 according to StockzIntelligence Inc. Nomura maintained the stock on September 22 with “Buy” rating. BTIG Research maintained it with “Buy” rating and $133 target price in a September 15 report. UBS maintained the shares of AAPL in a report on September 20 with “Buy” rating. Credit Suisse maintained the firm’s rating on September 15. Credit Suisse has “Outperform” rating and $150 price target. Lastly, Canaccord Genuity maintained the stock with “Buy” rating in a September 16 report.
The stock increased 0.76% or $0.86 during the last trading session, hitting $113.95. About 5,538 shares traded hands. Apple Inc. (NASDAQ:AAPL) has risen 17.77% since February 25, 2016 and is uptrending. It has outperformed by 6.51% the S&P500.
Analysts await Apple Inc. (NASDAQ:AAPL) to report earnings on October, 25. They expect $1.64 earnings per share, down 16.33% or $0.32 from last year’s $1.96 per share. AAPL’s profit will be $8.85B for 17.37 P/E if the $1.64 EPS becomes a reality. After $1.42 actual earnings per share reported by Apple Inc. for the previous quarter, Wall Street now forecasts 15.49% EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.89 in Q2 2016. Its down 0.26, from 1.15 in 2016Q1. The ratio is negative, as 116 funds sold all Apple Inc. shares owned while 900 reduced positions. 66 funds bought stakes while 835 increased positions. They now own 2.95 billion shares or 8.86% less from 3.23 billion shares in 2016Q1.
Diker Management Llc holds 23.72% of its portfolio in Apple Inc. for 637,273 shares. Independent Investors Inc owns 423,489 shares or 19.61% of their US portfolio. Moreover, Dock Street Asset Management Inc has 17.28% invested in the company for 204,441 shares. The Florida-based Lyons Wealth Management Llc. has invested 16.27% in the stock. Baker Boyer National Bank, a Washington-based fund reported 35,507 shares.
Apple Inc. 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 has a market cap of $615.16 billion. The Company’s services and products 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. It has a 13.31 P/E ratio. The Firm also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store.
According to Zacks Investment Research, “Apple Inc. is engaged in designing, manufacturing and marketing mobile communication and media devices, personal computers, and portable digital music players. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and Mac OS X operating systems, iCloud, and a range of accessory, service and support offerings. It sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers. Apple Inc. is headquartered in Cupertino, California.”
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