Apple's (AAPL) Buy Rating Reiterated at Hilliard Lyons

James Marshall
September 21, 2017

A number of institutional investors have recently bought and sold shares of AAPL. Finally, Morgan Stanley restated an overweight rating and set a $177.00 target price on shares of Apple in a report on Friday, June 16th. Needham maintained it with "Buy" rating and $17500 target in Wednesday, August 2 report. Vetr upgraded Apple from a hold rating to a buy rating and set a $159.81 price objective for the company in a research report on Wednesday, May 17th. Royal Bank Of Canada reissued an "outperform" rating and set a $180.00 price target on shares of Apple in a research note on Monday, September 11th. Ten analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. Stifel Nicolaus maintained it with "Buy" rating and $150 target in Wednesday, October 28 report. Following the transaction, the senior vice president now directly owns 76,250 shares of the company's stock, valued at $12,367,750.

Horan Capital Management increased its stake in Apple Inc (AAPL) by 5.77% based on its latest 2016Q4 regulatory filing with the SEC. AAPL's profit would be $9.66 billion giving it 20.61 P/E if the $1.87 EPS is correct. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $1.57 by $0.10. The ratio dropped, as 846 investment professionals increased and opened new holdings, while 1065 cut down and sold equity positions in Apple Inc. The firm has "Buy" rating by Robert W. Baird given on Friday, August 7. During the same period previous year, the company earned $1.42 earnings per share. Equities analysts predict that Apple will post $9.01 earnings per share for the current year.

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In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the firm's stock in a transaction dated Thursday, July 6th. Allianz Asset Mgmt Ag invested in 12.43M shares or 1.29% of the stock. The disclosure for this sale can be found here. Insiders sold a total of 432,930 shares of company stock valued at $69,008,577 over the last 90 days.

Several large investors have recently made changes to their positions in AAPL. (NASDAQ:AAPL) - and many Apple suppliers - are getting walloped today, amid negative reviews of the new Apple Watch. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker's stock worth $18,750,246,000 after buying an additional 834,854 shares in the last quarter. Portfolio Solutions LLC bought a new stake in shares of Apple in the 1st quarter valued at approximately $169,000. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker's stock worth $4,241,383,000 after buying an additional 3,845,363 shares in the last quarter. It also reduced its holding in Exxon Mobil Corporation (NYSE:XOM) by 7,976 shares in the quarter, leaving it with 8,519 shares, and cut its stake in Johnson & Johnson (NYSE:JNJ). 44,236,395 shares of the company's stock traded hands. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker's stock valued at $226,000 after buying an additional 6 shares during the period. That is six weeks following the release of the Apple iPhone 8 and Apple iPhone 8 Plus on September 22nd.

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