Apple PT Raised to $560.00 at UBS AG (AAPL)
Equities research analysts at UBS AG increased their target price on shares of Apple (NASDAQ:AAPL) from $500.00 to $560.00 in a research note issued to investors on Wednesday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. UBS AG’s price target suggests a potential upside of 11.34% from the company’s current price.
A number of other analysts have also recently weighed in on AAPL. Analysts at RBC Capital reiterated an “outperform” rating on shares of Apple in a research note to investors on Thursday, August 15th. They now have a $525.00 price target on the stock. Separately, analysts at ABG Sundal Collier reiterated a “hold” rating on shares of Apple in a research note to investors on Wednesday, August 14th. Finally, analysts at ISI Group reiterated a “strong-buy” rating on shares of Apple in a research note to investors on Tuesday, August 13th.
One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, forty-three have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $542.71.
Shares of Apple (NASDAQ:AAPL) traded up 0.39% on Wednesday, hitting $502.97. 11,812,995 shares of the company’s stock traded hands. Apple has a 52-week low of $385.10 and a 52-week high of $705.07. The stock has a 50-day moving average of $455.5 and a 200-day moving average of $441.6. The company has a market cap of $456.9 billion and a price-to-earnings ratio of 12.49. Apple also saw unusually large options trading activity on Friday. Traders purchased 155,666 call options on the company. This represents an increase of approximately 429% compared to the average daily volume of 29,424 call options.
Apple (NASDAQ:AAPL) last released its earnings data on Tuesday, July 23rd. The company reported $7.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $7.28 by $0.19. The company had revenue of $35.32 billion for the quarter, compared to the consensus estimate of $35.01 billion. During the same quarter in the prior year, the company posted $9.32 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts expect that Apple will post $39.10 EPS for the current fiscal year.
In other Apple news, SVP Daniel Riccio sold 4,305 shares of the stock in a transaction that occured on Friday, August 16th. The shares were sold at an average price of $500.09, for a total transaction of $2,152,887.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Apple Inc (NASDAQ:AAPL) 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.
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