Apple’s (AAPL) “Outperform” Rating Reiterated at Cowen and Company

Cowen and Company reiterated their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report sent to investors on Friday. They currently have a $160.00 price target on the iPhone maker’s stock.

Several other equities analysts have also commented on the company. Keefe, Bruyette & Woods set a $170.00 price objective on Apple and gave the company a buy rating in a research report on Monday, May 22nd. Stifel Nicolaus reissued a hold rating and set a $130.00 price objective on shares of Apple in a research report on Friday, March 3rd. Oppenheimer Holdings, Inc. reissued a rating on shares of Apple in a research report on Wednesday, February 22nd. Deutsche Bank AG set a $125.00 price objective on Apple and gave the company a neutral rating in a research report on Tuesday, February 21st. Finally, Barclays PLC set a $123.00 price objective on Apple and gave the company a neutral rating in a research report on Wednesday, May 3rd. Ten research analysts have rated the stock with a hold rating, forty have given a buy rating and two have assigned a strong buy rating to the stock. Apple has a consensus rating of Buy and an average target price of $160.83.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Apple (NASDAQ AAPL) opened at 145.01 on Friday. Apple has a 52-week low of $91.50 and a 52-week high of $156.65. The firm has a market cap of $756.06 billion, a P/E ratio of 17.01 and a beta of 1.28. The company’s 50 day moving average is $151.25 and its 200-day moving average is $136.05.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The company had revenue of $52.90 billion during the quarter, compared to analyst estimates of $52.61 billion. On average, equities analysts predict that Apple will post $8.94 EPS for the current fiscal year.

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In other Apple news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $153.88, for a total transaction of $5,385,800.00. Following the transaction, the director now directly owns 1,168,283 shares in the company, valued at approximately $179,775,388.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP D Bruce Sewell sold 67,500 shares of Apple stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $148.76, for a total transaction of $10,041,300.00. Following the transaction, the senior vice president now owns 141,325 shares in the company, valued at $21,023,507. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 447,411 shares of company stock worth $67,200,745. Corporate insiders own 0.08% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. JJJ Advisors Inc. boosted its position in Apple by 0.9% in the first quarter. JJJ Advisors Inc. now owns 1,533 shares of the iPhone maker’s stock valued at $220,000 after buying an additional 14 shares during the last quarter. Shoker Investment Counsel Inc. boosted its position in Apple by 0.3% in the first quarter. Shoker Investment Counsel Inc. now owns 5,196 shares of the iPhone maker’s stock valued at $746,000 after buying an additional 17 shares during the last quarter. Stonehearth Capital Management LLC boosted its position in Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock valued at $342,000 after buying an additional 20 shares during the last quarter. Noven Financial Group Inc. boosted its position in Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock valued at $857,000 after buying an additional 22 shares during the last quarter. Finally, Asset Planning Services Ltd. boosted its position in Apple by 0.3% in the fourth quarter. Asset Planning Services Ltd. now owns 7,859 shares of the iPhone maker’s stock valued at $910,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 61.26% of the company’s stock.

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.

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