Apple Inc. (AAPL) PT Raised to $125.00
Apple Inc. (NASDAQ:AAPL) had its price target upped by equities researchers at RBC Capital Markets to $125.00 in a research report issued to clients and investors on Thursday. RBC Capital Markets’ price objective suggests a potential upside of 10.08% from the company’s current price.
AAPL has been the subject of a number of other reports. Robert W. Baird reissued a “buy” rating on shares of Apple in a research note on Thursday, June 2nd. Piper Jaffray Cos. reissued a “buy” rating and issued a $153.00 price target on shares of Apple in a research note on Wednesday, June 8th. Vetr downgraded shares of Apple from a “hold” rating to a “sell” rating and set a $103.98 price target for the company. in a research note on Monday, August 8th. Wells Fargo & Co. reissued a “market perform” rating on shares of Apple in a research note on Friday, September 9th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $116.00 price target (down from $118.00) on shares of Apple in a research note on Thursday, July 21st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, forty-two have given a buy rating and two have issued a strong buy rating to the stock. Apple has an average rating of “Buy” and an average price target of $126.60.
Apple (NASDAQ:AAPL) opened at 113.55 on Thursday. The firm’s 50-day moving average price is $108.61 and its 200-day moving average price is $102.39. Apple has a 1-year low of $89.47 and a 1-year high of $123.82. The firm has a market cap of $611.86 billion, a P/E ratio of 13.24 and a beta of 1.14.
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Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. The business earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 earnings per share. Equities research analysts anticipate that Apple will post $8.26 earnings per share for the current fiscal year.
In other news, CEO Timothy D. Cook sold 49,883 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $106.19, for a total value of $5,297,075.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the transaction, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Apple during the fourth quarter valued at about $5,068,068,000. Cohen & Steers Inc. boosted its position in shares of Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock valued at $999,482,000 after buying an additional 22,303,795 shares in the last quarter. Agran Libbie boosted its position in shares of Apple by 9,945.6% in the fourth quarter. Agran Libbie now owns 21,121,496 shares of the iPhone maker’s stock valued at $22,232,000 after buying an additional 20,911,240 shares in the last quarter. Magellan Asset Management Ltd purchased a new position in shares of Apple during the fourth quarter valued at $745,014,000. Finally, Nordea Investment Management AB boosted its position in shares of Apple by 87.4% in the second quarter. Nordea Investment Management AB now owns 10,195,750 shares of the iPhone maker’s stock valued at $974,714,000 after buying an additional 4,755,361 shares in the last quarter. 56.45% of the stock is owned by institutional investors.
Apple Inc (Apple) 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. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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