Apple's (AAPL) "Buy" Rating Reiterated at UBS AG

Bruno Cirelli
Agosto 16, 2017

Apple makes up approximately 1.5% of American Beacon Advisors Inc.'s portfolio, making the stock its 9th largest position. (NASDAQ:AAPL) by 30.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,769 shares of the iPhone maker's stock after selling 1,109 shares during the period. Norway Savings Bank's holdings in Apple were worth $3,062,000 as of its most recent filing with the SEC.

Hedge funds have recently made changes to their positions in the company. Blue Sky Asset Management LLC acquired a new position in shares of Apple during the second quarter valued at $108,000. Company insiders own 0.08% of the company's stock. Redmond Asset Management LLC now owns 25,147 shares of the iPhone maker's stock worth $2,913,000 after buying an additional 5,712 shares during the last quarter. Harwood Advisory Group LLC increased its position in shares of Apple by 0.3% in the second quarter. Hefty Wealth Partners increased its stake in shares of Apple by 27.6% in the second quarter. Headinvest LLC boosted its stake in shares of Apple by 2.5% in the second quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker's stock worth $12,564,000 after buying an additional 5,491 shares in the last quarter. (NASDAQ AAPL) traded up 1.09% during trading on Tuesday, hitting $161.60. The stock's 50 day moving average is $150.76 and its 200 day moving average is $145.17. The stock has a market cap of $834.70 billion, a PE ratio of 18.35 and a beta of 1.31.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.10. Apple had a net profit margin of 20.87% and a ROE of 35.40%. the company reported sales of $45.41 B for the period, compared to the average forecast of $44.94 B. for the same period in the previous fiscal year, the public company disclosed $1.42 EPS. During the same period past year, the firm earned $1.42 EPS. Apple's revenue was up 7.2% on a year-over-year basis. Equities research analysts predict that Apple will post $9.02 earnings per share for the current year.

Apple announced that its board has authorized a share buyback program on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Apple Blush Gold iPhone 8

In other news, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction dated Monday, August 7th. The ex-dividend date is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a yield of 1.56%. Apple's dividend payout ratio is presently 28.64%.

American Beacon Advisors Inc. purchased a new position in Apple Inc. The original version of this report can be viewed at https://www.baseball-news-blog.com/2017/08/16/mizuho-reiterates-neutral-rating-for-apple-inc-aapl-updated-updated.html. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & worldwide copyright and trademark legislation.

A number of other research analysts have also weighed in on the company. Drexel Hamilton reaffirmed a "buy" rating and issued a $208.00 price target on shares of Apple in a research note on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reissued a "buy" rating and issued a $150.00 price objective on shares of Apple in a research note on Tuesday, April 18th. Morgan Stanley raised their price target on Apple from $177.00 to $182.00 and gave the stock an "overweight" rating in a research report on Monday, July 17th. Drexel Hamilton reaffirmed a "buy" rating and issued a $202.00 target price on shares of Apple in a research report on Thursday, July 6th. Citigroup Inc. reaffirmed a "buy" rating and issued a $160.00 target price on shares of Apple in a research report on Thursday, April 6th. Thirteen 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 stock. The company presently has an average rating of "Buy" and an average price target of $167.33. Also, SVP Johny Srouji sold 10,000 shares of Apple stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the sale, the insider now owns 359,988 shares of the company's stock, valued at approximately $56,903,303.16.

In other Apple news, insider Luca Maestri sold 4,757 shares of the firm's stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. Orleans Capital Management LA has an ownership of 24,297 stocks of the iPhone maker's shares valued at $3,499,000 after scooping up an extra 150 shares through out the previous quarter, Lastly, High Falls Advisors boosted its position in Apple by 0.8% in the Fiscal Q2. The disclosure for this sale can be found here. Insiders sold a total of 287,962 shares of company stock worth $44,702,313 in the last ninety days. Insiders own 0.08% of the company's stock. 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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