Apple Rating Reiterated by Needham & Company (AAPL)
Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company in a research report issued on Tuesday, Stock Ratings Network reports. They currently have a $595.00 price target on the stock. Needham & Company’s price target points to a potential upside of 12.29% from the company’s current price.
In other Apple news, SVP Jeffrey E. Williams sold 1,843 shares of Apple 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on AAPL. Analysts at Barclays raised their price target on shares of Apple from $540.00 to $585.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Apple to $600.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Finally, 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. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, forty have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $576.61.
Apple (NASDAQ:AAPL) traded down 1.47% on Tuesday, hitting $522.08. The stock had a trading volume of 16,497,675 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 $474.3 billion and a P/E 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. On average, analysts predict that Apple will post $39.41 earnings per share 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%.
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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