Apple Price Target Increased to $575.00 by Analysts at Janney Montgomery Scott (AAPL)
Stock analysts at Janney Montgomery Scott boosted their price objective on shares of Apple (NASDAQ:AAPL) from $500.00 to $575.00 in a report issued on Tuesday, AnalystRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Janney Montgomery Scott’s target price suggests a potential upside of 10.57% from the stock’s previous close.
In other Apple news, SVP Daniel J. Riccio unloaded 1,997 shares of Apple stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $524.86, for a total value of $1,048,145.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
AAPL has been the subject of a number of other recent research reports. 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. Separately, 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, October 29th. They now have an “outperform” rating on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of Apple from $430.00 to $530.00 in a research note to investors on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirty-nine have given a buy rating and three have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $581.15.
Apple (NASDAQ:AAPL) traded down 0.51% on Tuesday, hitting $520.03. The stock had a trading volume of 9,817,472 shares. 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 announced its earnings results 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 $43.27 earnings per share 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 2.35%. The ex-dividend date 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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