Apple Rating Reiterated by Nomura (AAPL)
Apple (NASDAQ:AAPL)‘s stock had its “hold” rating restated by investment analysts at Nomura in a note issued to investors on Wednesday. They currently have a $95.00 target price on the stock. Nomura’s target price would indicate a potential downside of 3.44% from the company’s current price.
Shares of Apple (NASDAQ:AAPL) traded down 0.65% during mid-day trading on Wednesday, hitting $98.38. The stock had a trading volume of 42,894,352 shares. Apple has a one year low of $63.8886 and a one year high of $99.24. The stock’s 50-day moving average is $93.81 and its 200-day moving average is $82.84. The company has a market cap of $589.1 billion and a P/E ratio of 15.97.
Apple (NASDAQ:AAPL) last released its earnings data on Tuesday, July 22nd. The company reported $1.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.22 by $0.06. The company had revenue of $37.43 billion for the quarter, compared to the consensus estimate of $37.80 billion. During the same quarter in the prior year, the company posted $7.47 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that Apple will post $6.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Monday, August 11th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, August 7th.
Several other analysts have also recently commented on the stock. Analysts at Raymond James raised their price target on shares of Apple from $102.00 to $104.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Apple in a research note on Wednesday, July 23rd. They now have a $95.00 price target on the stock, up previously from $88.71. Finally, analysts at Macquarie raised their price target on shares of Apple from $95.00 to $102.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty-four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $101.30.
In other Apple news, SVP Daniel J. Riccio sold 4,291 shares of the company’s stock on the open market in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $97.32, for a total transaction of $417,600.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.