Apple (AAPL) Receives “Buy” Rating from HSBC

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by research analysts at HSBC in a research report issued to clients and investors on Wednesday, May 2nd. They presently have a $205.00 target price on the iPhone maker’s stock. HSBC’s price objective indicates a potential upside of 9.63% from the company’s previous close.

Other research analysts have also issued research reports about the company. Macquarie set a $188.00 target price on Apple and gave the company a “buy” rating in a report on Friday, January 26th. Barclays decreased their price target on Apple from $170.00 to $168.00 and set an “equal weight” rating for the company in a research report on Friday, March 16th. Zacks Investment Research raised Apple from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a research report on Thursday, January 18th. Piper Jaffray reissued a “buy” rating and issued a $200.00 target price on shares of Apple in a research report on Tuesday, January 2nd. Finally, Bank of America downgraded Apple from a “buy” rating to a “neutral” rating and raised their target price for the stock from $180.00 to $220.00 in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $204.00.

Shares of AAPL stock opened at $186.99 on Wednesday. The stock has a market capitalization of $954.83 billion, a PE ratio of 20.30, a P/E/G ratio of 1.40 and a beta of 1.26. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.80. Apple has a 1-year low of $185.68 and a 1-year high of $188.37.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 EPS for the quarter, beating the consensus estimate of $2.69 by $0.04. Apple had a return on equity of 39.97% and a net margin of 21.55%. The company had revenue of $61.14 billion for the quarter, compared to analyst estimates of $60.94 billion. During the same quarter in the prior year, the company earned $2.10 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. research analysts predict that Apple will post 11.43 earnings per share for the current year.

Apple announced that its board has approved a stock repurchase program on Tuesday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 11.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

In other Apple news, SVP Daniel J. Riccio sold 17,375 shares of the stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $169.12, for a total value of $2,938,460.00. Following the completion of the sale, the senior vice president now owns 66,191 shares in the company, valued at approximately $11,194,221.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Philip W. Schiller sold 69,491 shares of the stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total value of $11,564,692.22. The disclosure for this sale can be found here. Insiders sold a total of 214,869 shares of company stock valued at $37,493,244 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Quattro Financial Advisors LLC bought a new position in shares of Apple during the 1st quarter valued at about $133,000. Smart Portfolios LLC bought a new position in shares of Apple during the 1st quarter valued at about $134,000. Spectrum Financial Alliance Ltd LLC bought a new position in shares of Apple during the 1st quarter valued at about $138,000. Macroview Investment Management LLC boosted its holdings in shares of Apple by 220.3% during the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock valued at $151,000 after purchasing an additional 619 shares during the last quarter. Finally, Oak Point Wealth Management bought a new position in shares of Apple during the 4th quarter valued at about $163,000. Institutional investors and hedge funds own 60.93% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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