Apple Given New $610.00 Price Target at Lazard Capital Markets (AAPL)
Analysts at Lazard Capital Markets lifted their price target on shares of Apple (NASDAQ:AAPL) from $570.00 to $610.00 in a research report issued to clients and investors on Tuesday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Lazard Capital Markets’ price target suggests a potential upside of 17.30% from the company’s current price.
In other Apple news, SVP Daniel J. Riccio sold 1,997 shares of the company’s stock on the open market in a transaction dated Thursday, October 31st. The shares were sold at an average price of $524.86, for a total transaction of $1,048,145.42. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of other firms have also recently commented on AAPL. Analysts at JPMorgan Chase & Co. raised their price target on shares of Apple from $545.00 to $600.00 in a research note to investors on Tuesday, October 29th. They now have an “overweight” rating on the stock. Separately, analysts at Janney Montgomery Scott raised their price target on shares of Apple from $500.00 to $575.00 in a research note to investors on Tuesday, October 29th. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Apple from $560.00 to $620.00 in a research note to investors on Tuesday, October 29th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirty-nine have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $581.15.
Shares of Apple (NASDAQ:AAPL) traded down 0.51% during mid-day trading on Tuesday, hitting $520.03. 9,817,472 shares of the company’s stock traded hands. Apple has a 1-year low of $385.10 and a 1-year high of $596.95. The stock’s 50-day moving average is $494. and its 200-day moving average is $458.5. The company has a market cap of $467.9 billion and a P/E ratio of 13.15.
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 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 $43.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a dividend of $3.05 per share. This represents a $12.20 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, November 6th.
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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