Morgan Stanley Reiterates Overweight Rating for Apple (AAPL)

Apple (NASDAQ:AAPL)‘s stock had its “overweight” rating reaffirmed by investment analysts at Morgan Stanley in a report issued on Thursday, MarketBeat.com reports. They presently have a $214.00 price objective on the iPhone maker’s stock, up from their previous price objective of $200.00. Morgan Stanley’s price target would suggest a potential upside of 13.48% from the stock’s previous close. The analysts noted that the move was a valuation call.

Other analysts have also recently issued research reports about the stock. Macquarie set a $188.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Friday, January 26th. Sanford C. Bernstein set a $195.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, January 24th. Canaccord Genuity reissued a “buy” rating and set a $200.00 price objective (up previously from $195.00) on shares of Apple in a report on Wednesday, January 24th. Loop Capital reissued a “buy” rating and set a $195.00 price objective (down previously from $200.00) on shares of Apple in a report on Wednesday, January 31st. Finally, Bank of America restated a “buy” rating and set a $220.00 target price on shares of Apple in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $205.04.

AAPL stock opened at $188.58 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.37 and a current ratio of 1.46. Apple has a twelve month low of $142.20 and a twelve month high of $190.37. The company has a market cap of $954.68 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 1.40 and a beta of 1.26.

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

Apple declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 11.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

In other Apple news, insider Philip W. Schiller sold 69,491 shares of Apple stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total value of $11,564,692.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 15,653 shares of Apple stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $185.18, for a total value of $2,898,622.54. Following the completion of the sale, the chief operating officer now owns 168,181 shares of the company’s stock, valued at approximately $31,143,757.58. The disclosure for this sale can be found here. Insiders sold a total of 252,084 shares of company stock valued at $44,474,650 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AAPL. BKD Wealth Advisors LLC grew its holdings in shares of Apple by 1.7% during the 1st quarter. BKD Wealth Advisors LLC now owns 48,341 shares of the iPhone maker’s stock worth $8,111,000 after purchasing an additional 814 shares during the period. Trilogy Capital Inc. grew its holdings in shares of Apple by 145.1% during the 1st quarter. Trilogy Capital Inc. now owns 5,522 shares of the iPhone maker’s stock worth $927,000 after purchasing an additional 3,269 shares during the period. Quad Cities Investment Group LLC purchased a new stake in shares of Apple during the 1st quarter worth about $5,017,000. Edmonds Duncan Registered Investment Advisors LLC grew its holdings in shares of Apple by 11.9% during the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 8,981 shares of the iPhone maker’s stock worth $1,517,000 after purchasing an additional 956 shares during the period. Finally, BDO Wealth Advisors LLC grew its holdings in shares of Apple by 7.2% during the 1st quarter. BDO Wealth Advisors LLC now owns 17,915 shares of the iPhone maker’s stock worth $3,006,000 after purchasing an additional 1,201 shares during the period. Institutional investors own 58.19% 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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