Apple Inc. (AAPL) Price Target Increased to $130.00 by Analysts at Mizuho
Apple Inc. (NASDAQ:AAPL) had its price target boosted by analysts at Mizuho from $120.00 to $130.00 in a research note issued to investors on Wednesday. The firm presently has a “buy” rating on the iPhone maker’s stock. Mizuho’s price target suggests a potential upside of 11.73% from the stock’s previous close.
A number of other brokerages have also recently commented on AAPL. Raymond James Financial Inc. reissued a “hold” rating on shares of Apple in a research note on Saturday, July 9th. Barclays PLC reissued a “buy” rating on shares of Apple in a research note on Sunday, July 17th. Credit Suisse Group AG reissued a “buy” rating and issued a $150.00 price objective on shares of Apple in a research note on Sunday, July 17th. Brean Capital reissued a “buy” rating and issued a $125.00 price objective on shares of Apple in a research note on Wednesday, June 15th. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $117.00 price objective (up previously from $115.00) on shares of Apple in a research note on Thursday, August 11th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the stock. Apple currently has a consensus rating of “Buy” and an average target price of $126.34.
Shares of Apple (NASDAQ:AAPL) opened at 116.30 on Wednesday. Apple has a 52-week low of $89.47 and a 52-week high of $123.82. The stock has a market capitalization of $626.68 billion, a price-to-earnings ratio of 13.56 and a beta of 1.22. The stock has a 50 day moving average of $110.78 and a 200-day moving average of $103.36.
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Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business earned $42.36 billion during the quarter, compared to analysts’ expectations of $42.35 billion. During the same quarter last year, the firm posted $1.85 earnings per share. The firm’s revenue was down 14.6% on a year-over-year basis. On average, equities research analysts predict that Apple will post $8.26 EPS for the current fiscal year.
In other Apple news, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the transaction, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $35,814,820.00. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of AAPL. Perkins Coie Trust Co increased its position in shares of Apple by 1.8% in the third quarter. Perkins Coie Trust Co now owns 27,479 shares of the iPhone maker’s stock valued at $3,106,000 after buying an additional 492 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in shares of Apple by 2.3% in the third quarter. Carroll Financial Associates Inc. now owns 119,186 shares of the iPhone maker’s stock valued at $13,474,000 after buying an additional 2,700 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of Apple by 1.4% in the third quarter. Raymond James Trust N.A. now owns 195,820 shares of the iPhone maker’s stock valued at $22,137,000 after buying an additional 2,642 shares during the last quarter. Dynamic Advisors Solutions LLC increased its stake in shares of Apple by 12.3% in the third quarter. Dynamic Advisors Solutions LLC now owns 19,743 shares of the iPhone maker’s stock valued at $2,232,000 after buying an additional 2,170 shares during the last quarter. Finally, First Financial Bank N.A. Trust Division increased its stake in shares of Apple by 12.4% in the third quarter. First Financial Bank N.A. Trust Division now owns 59,909 shares of the iPhone maker’s stock valued at $6,773,000 after buying an additional 6,595 shares during the last quarter. 56.46% of the stock is currently 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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