Apple PT Raised to $610.00 (AAPL)
Analysts at Oppenheimer lifted their target price on shares of Apple (NASDAQ:AAPL) from $540.00 to $610.00 in a research report issued to clients and investors on Tuesday, AnalystRatings.NET reports. The firm currently has a “neutral” rating on the stock. Oppenheimer’s price target suggests a potential upside of 15.12% from the company’s current price.
Shares of Apple (NASDAQ:AAPL) opened at 529.876 on Tuesday. Apple has a 1-year low of $385.10 and a 1-year 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 $481.4 billion and a price-to-earnings ratio of 13.21.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Monday, October 28th. The company reported $8.26 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $8.67 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. 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. Stockholders 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%.
In other Apple news, SVP Jeffrey E. Williams sold 1,843 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $501.09, for a total transaction of $923,508.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Monness Crespi & Hardt raised their price target on shares of Apple from $550.00 to $560.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Cantor Fitzgerald reiterated a “buy” rating on shares of Apple in a research note to investors on Tuesday. They now have a $777.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Apple in a research note to investors on Tuesday. They now have a $575.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, forty have issued a buy rating and two have given a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and an average target price of $573.44.
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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