Apple Inc. (AAPL) PT Raised to $129.00 at Pacific Crest
Apple Inc. (NASDAQ:AAPL) had its price objective boosted by equities research analysts at Pacific Crest to $129.00 in a research note issued on Thursday. Pacific Crest’s price objective indicates a potential upside of 9.94% from the stock’s previous close.
Several other research analysts also recently weighed in on AAPL. Deutsche Bank AG reissued a “hold” rating and issued a $105.00 target price on shares of Apple in a research report on Wednesday, June 15th. Brean Capital reaffirmed a “buy” rating and set a $125.00 price objective on shares of Apple in a research report on Wednesday, June 15th. Argus reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Apple in a research report on Wednesday, June 15th. They noted that the move was a valuation call. Nomura reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, June 15th. Finally, JPMorgan Chase & Co. set a $105.00 price objective on shares of Apple and gave the company a “buy” rating in a research report on Thursday, June 16th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-three have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $126.51.
Apple (NASDAQ:AAPL) traded down 0.88% during trading on Thursday, reaching $116.31. 8,393,446 shares of the company’s stock were exchanged. The stock has a market capitalization of $626.73 billion, a price-to-earnings ratio of 13.56 and a beta of 1.22. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The company’s 50 day moving average price is $111.02 and its 200-day moving average price is $103.46.
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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 analysts’ consensus estimates of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. During the same period in the previous year, the firm earned $1.85 EPS. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities analysts expect that Apple will post $8.26 EPS for the current year.
In other news, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction dated 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 owns 105,839 shares of the company’s stock, valued at $10,583,900. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 334,000 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.23, for a total value of $35,814,820.00. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Penserra Capital Management LLC increased its stake in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares in the last quarter. Weaver C. Barksdale & Associates Inc. purchased a new stake in Apple during the third quarter worth approximately $122,000. Delphi Private Advisors LLC increased its stake in Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Apple during the second quarter worth approximately $143,000. Finally, River & Mercantile Asset Management LLP increased its stake in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.
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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