Apple Inc. (AAPL) PT Raised to $129.00
Apple Inc. (NASDAQ:AAPL) had its target price boosted by research analysts at Pacific Crest to $129.00 in a note issued to investors on Thursday. Pacific Crest’s target price would suggest a potential upside of 9.94% from the company’s previous close.
Several other research firms also recently commented on AAPL. Citigroup Inc. reissued a “buy” rating and issued a $115.00 target price on shares of Apple in a report on Wednesday, July 6th. Piper Jaffray Cos. restated an “overweight” rating and issued a $153.00 price target on shares of Apple in a research note on Tuesday, July 26th. Cowen and Company restated an “outperform” rating and issued a $125.00 price target on shares of Apple in a research note on Thursday, July 28th. BMO Capital Markets restated an “outperform” rating and issued a $140.00 price target (up previously from $116.00) on shares of Apple in a research note on Monday, September 19th. Finally, OTR Global upgraded Apple to a “positive” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $126.51.
Shares of Apple (NASDAQ:AAPL) traded down 0.95% on Thursday, reaching $116.23. The company’s stock had a trading volume of 8,707,377 shares. The stock has a market cap of $626.30 billion, a P/E ratio of 13.55 and a beta of 1.22. The firm’s 50-day moving average price is $111.02 and its 200-day moving average price is $103.46. Apple has a 12 month low of $89.47 and a 12 month high of $123.82.
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Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. During the same period in the previous year, the firm earned $1.85 earnings per share. The business’s revenue was down 14.6% compared to the same quarter last year. On average, analysts forecast that Apple will post $8.26 earnings per share for the current fiscal year.
In other news, SVP Angela J. Ahrendts sold 25,000 shares of the business’s 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 owns 105,839 shares in the company, valued at $10,583,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 43,769 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $112.59, for a total value of $4,927,951.71. Following the completion of the transaction, the chief operating officer now owns 90,657 shares of the company’s stock, valued at approximately $10,207,071.63. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AAPL. Cordasco Financial Network boosted its stake in Apple by 0.4% in the second quarter. Cordasco Financial Network now owns 3,353 shares of the iPhone maker’s stock worth $321,000 after buying an additional 12 shares during the period. Cidel Asset Management Inc. boosted its stake in Apple by 0.3% in the second quarter. Cidel Asset Management Inc. now owns 4,186 shares of the iPhone maker’s stock worth $400,000 after buying an additional 13 shares during the period. Boston Standard Wealth Management LLC boosted its stake in Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock worth $218,000 after buying an additional 14 shares during the period. Lbmc Investment Advisors LLC boosted its stake in Apple by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 5,110 shares of the iPhone maker’s stock worth $489,000 after buying an additional 15 shares during the period. Finally, Summit Financial Strategies Inc. boosted its stake in Apple by 0.3% in the second quarter. Summit Financial Strategies Inc. now owns 6,533 shares of the iPhone maker’s stock worth $625,000 after buying an additional 19 shares during the period. Hedge funds and other 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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