Apple Given New $600.00 Price Target at JPMorgan Chase & Co. (AAPL)
Research analysts at JPMorgan Chase & Co. hoisted their price target on shares of Apple (NASDAQ:AAPL) to $600.00 in a report released on Tuesday, AnalystRatings.NET reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 13.23% from the stock’s previous close.
AAPL has been the subject of a number of other recent research reports. Analysts at Piper Jaffray Cos. reiterated an “overweight” rating on shares of Apple in a research note to investors on Tuesday. They now have a $640.00 price target on the stock. Separately, analysts at ABG Sundal Collier reiterated a “sell” rating on shares of Apple in a research note to investors on Tuesday. They now have a $400.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Apple in a research note to investors on Tuesday. They now have a $600.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, forty 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 an average target price of $576.61.
In other Apple news, SVP Jeffrey E. Williams unloaded 1,843 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $501.09, for a total value of $923,508.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Apple (NASDAQ:AAPL) traded down 0.99% during mid-day trading on Tuesday, hitting $524.63. 13,665,632 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’s 50-day moving average is $481.3 and its 200-day moving average is $444.. The company has a market cap of $476.6 billion and a price-to-earnings ratio of 13.21.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Monday, October 28th. The company reported $8.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $7.86 by $0.40. The company had revenue of $37.50 billion for the quarter, compared to the consensus estimate of $36.84 billion. During the same quarter last year, the company posted $8.67 earnings per share. Apple’s revenue was up 4.2% compared to the same quarter last year. Analysts expect that Apple will post $39.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 14th. Investors of record on Monday, November 11th will be paid a dividend of $3.05 per share. This represents a $12.20 annualized dividend and a dividend yield of 2.30%.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.