The JPMorgan Chase & Co. Reiterates “Overweight” Rating for Apple Inc. (AAPL)

The JPMorgan Chase & Co. Reiterates “Overweight” Rating for Apple Inc. (AAPL)

Several other equities analysts have also recently issued reports on AAPL. Credit Suisse Group AG reiterated an “outperform” rating and set a $150.00 price target on shares of Apple in a research report on Wednesday, February 1st. Morgan Stanley lifted their price target on Apple to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Mizuho lifted their price target on Apple from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. BMO Capital Markets lifted their price target on Apple from $121.35 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Finally, Macquarie lifted their price target on Apple from $148.00 to $156.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Nine equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $159.69.

Apple Inc. (NASDAQ:AAPL)‘s stock had its “overweight” rating reissued by investment analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday. They presently have a $165.00 price objective on the iPhone maker’s stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 6.14% from the stock’s previous close.

Shares of Apple (NASDAQ:AAPL) opened at 155.45 on Thursday. The firm has a 50-day moving average price of $149.57 and a 200 day moving average price of $132.53. Apple has a 12-month low of $91.50 and a 12-month high of $156.65. The firm has a market cap of $810.49 billion, a price-to-earnings ratio of 18.24 and a beta of 1.26.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.08. Apple had a return on equity of 33.20% and a net margin of 20.85%. The company had revenue of $52.90 billion for the quarter, compared to analysts’ expectations of $52.61 billion. On average, equities research analysts anticipate that Apple will post $8.95 earnings per share for the current fiscal year.

In other news, insider Philip W. Schiller sold 47,796 shares of the firm’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $143.32, for a total transaction of $6,850,122.72. Following the transaction, the insider now directly owns 94,010 shares of the company’s stock, valued at $13,473,513.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Luca Maestri sold 6,308 shares of the firm’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $141.83, for a total transaction of $894,663.64. Following the transaction, the insider now directly owns 2,665 shares in the company, valued at $377,976.95. The disclosure for this sale can be found here. Insiders have sold 430,705 shares of company stock worth $64,608,919 over the last ninety days. Insiders own 0.08% of the company’s stock. Several hedge funds and other institutional investors have recently made changes to their positions in the company. JJJ Advisors Inc. boosted its position in shares of Apple by 0.9% in the first quarter. JJJ Advisors Inc. now owns 1,533 shares of the iPhone maker’s stock worth $220,000 after buying an additional 14 shares during the period. Shoker Investment Counsel Inc. boosted its position in shares of Apple by 0.3% in the first quarter. Shoker Investment Counsel Inc. now owns 5,196 shares of the iPhone maker’s stock worth $746,000 after buying an additional 17 shares during the period. Stonehearth Capital Management LLC boosted its position in shares of Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares during the period. Noven Financial Group Inc. boosted its position in shares of Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock worth $857,000 after buying an additional 22 shares during the period. Finally, Asset Planning Services Ltd. boosted its position in shares of Apple by 0.3% in the fourth quarter. Asset Planning Services Ltd. now owns 7,859 shares of the iPhone maker’s stock worth $910,000 after buying an additional 24 shares during the period. 58.76% of the stock is currently owned by institutional investors.

Apple Company Profile 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AAPL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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