Apple Inc. (AAPL) PT Raised to $125.00
Apple Inc. (NASDAQ:AAPL) had its price target boosted by Royal Bank Of Canada from $120.00 to $125.00 in a report issued on Thursday. The firm currently has an “outperform” rating on the iPhone maker’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 10.08% from the company’s previous close.
Several other research firms have also weighed in on AAPL. Drexel Hamilton restated a “buy” rating and set a $185.00 target price on shares of Apple in a report on Wednesday, September 14th. Piper Jaffray Cos. upgraded Apple to an “overweight” rating and set a $151.00 target price on the stock in a report on Friday, September 16th. Canaccord Genuity restated a “buy” rating and set a $140.00 target price (up from $120.00) on shares of Apple in a report on Monday, September 12th. Mizuho restated a “buy” rating and set a $120.00 target price on shares of Apple in a report on Thursday, September 1st. Finally, Wells Fargo & Co. restated a “market perform” rating on shares of Apple in a report on Friday, September 9th. Four research 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 assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $126.50.
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 12-month low of $89.47 and a 12-month high of $123.82. The company 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 released its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The firm earned $42.36 billion during the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.85 earnings per share. Analysts expect that Apple will post $8.26 EPS for the current year.
In related news, SVP Daniel J. Riccio sold 49,996 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $105.95, for a total transaction of $5,297,076.20. Following the sale, the senior vice president now owns 67,143 shares of the company’s stock, valued at approximately $7,113,800.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the sale, the senior vice president now directly owns 105,839 shares in the company, valued at approximately $10,583,900. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Sunnymeath Asset Management Inc. bought a new position in shares of Apple during the fourth quarter worth approximately $1,673,000. Park National Corp OH raised its position in shares of Apple by 6.3% in the first quarter. Park National Corp OH now owns 230,756 shares of the iPhone maker’s stock worth $25,150,000 after buying an additional 13,602 shares during the last quarter. Pensionfund DSM Netherlands raised its position in shares of Apple by 7.7% in the first quarter. Pensionfund DSM Netherlands now owns 154,400 shares of the iPhone maker’s stock worth $16,828,000 after buying an additional 11,000 shares during the last quarter. LVM Capital Management Ltd. MI raised its position in shares of Apple by 4.1% in the first quarter. LVM Capital Management Ltd. MI now owns 157,563 shares of the iPhone maker’s stock worth $17,173,000 after buying an additional 6,175 shares during the last quarter. Finally, First American Trust FSB raised its position in shares of Apple by 2.2% in the first quarter. First American Trust FSB now owns 81,380 shares of the iPhone maker’s stock worth $8,870,000 after buying an additional 1,771 shares during the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.
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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