Apple Price Target Raised to $610.00 at Lazard Capital Markets (AAPL)
Equities researchers at Lazard Capital Markets boosted their target price on shares of Apple (NASDAQ:AAPL) to $610.00 in a research report issued on Tuesday, Analyst Ratings Network.com reports. Lazard Capital Markets’ price target indicates a potential upside of 18.06% from the stock’s previous close.
In other Apple news, SVP Jeffrey E. Williams sold 1,843 shares of Apple stock on the open market in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $501.09, for a total transaction of $923,508.87. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Apple (NASDAQ:AAPL) traded down 2.49% during mid-day trading on Tuesday, hitting $516.678. The stock had a trading volume of 22,659,164 shares. 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 $481.3 and a 200-day moving average of $444.. The company has a market cap of $469.4 billion and a price-to-earnings ratio of 13.21.
Apple (NASDAQ:AAPL) last released its earnings data on Monday, October 28th. The company reported $8.26 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $8.67 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts predict that Apple will post $43.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 14th. Shareholders 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 2.36%.
Other equities research analysts have also recently issued reports about the stock. Analysts at Susquehanna reiterated a “positive” rating on shares of Apple in a research note to investors on Tuesday. They now have a $625.00 price target on the stock. Separately, analysts at Robert W. Baird upgraded shares of Apple from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $620.00 price target on the stock, up previously from $525.00. Finally, analysts at Cowen and Company raised their price target on shares of Apple from $550.00 to $590.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, forty have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $576.61.
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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