Apple Inc. (AAPL) Given a $132.00 Price Target by Macquarie Analysts
Apple Inc. (NASDAQ:AAPL) has been assigned a $132.00 price objective by equities research analysts at Macquarie in a report released on Wednesday. The firm currently has a a “buy” rating on the iPhone maker’s stock. Macquarie’s price target indicates a potential upside of 12.37% from the company’s current price.
Other research analysts also recently issued research reports about the company. Vetr upgraded Apple and set a $100.00 target price on the stock in a research note on Thursday, July 14th. Mizuho restated a “buy” rating and issued a $120.00 target price on shares of Apple in a research note on Tuesday, June 21st. Nomura restated a “buy” rating and issued a $120.00 target price on shares of Apple in a research note on Tuesday, June 21st. Morgan Stanley restated a “buy” rating and issued a $120.00 target price on shares of Apple in a research note on Monday, June 27th. Finally, Canaccord Genuity lowered their target price on Apple from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, forty-four have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $127.47.
Apple (NASDAQ:AAPL) traded down 0.0937% during midday trading on Wednesday, reaching $117.3599. The company’s stock had a trading volume of 7,151,123 shares. The firm has a market capitalization of $632.39 billion, a PE ratio of 13.6847 and a beta of 1.22. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The stock has a 50 day moving average of $112.17 and a 200 day moving average of $103.69.
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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, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $42.36 billion for the quarter, compared to analyst estimates of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. Apple’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 earnings per share. On average, equities research analysts predict that Apple will post $8.26 earnings per share for the current fiscal year.
In other Apple news, SVP D Bruce Sewell sold 23,305 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $107.49, for a total value of $2,505,054.45. Following the completion of the transaction, the senior vice president now directly owns 239,329 shares of the company’s stock, valued at approximately $25,725,474.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 110,000 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $105.95, for a total transaction of $11,654,500.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of AAPL. Cohen & Steers Inc. boosted its stake in 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 during the period. Magellan Asset Management Ltd boosted its stake in Apple by 56.9% in the second quarter. Magellan Asset Management Ltd now owns 15,294,140 shares of the iPhone maker’s stock valued at $1,462,120,000 after buying an additional 5,543,465 shares during the period. Nordea Investment Management AB boosted its stake in 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 during the period. NN Investment Partners Holdings N.V. bought a new stake in Apple during the first quarter valued at $325,287,000. Finally, Franklin Resources Inc. boosted its stake in Apple by 20.2% in the second quarter. Franklin Resources Inc. now owns 17,027,764 shares of the iPhone maker’s stock valued at $1,627,849,000 after buying an additional 2,857,040 shares during the period. Hedge funds and other institutional investors own 56.41% of the company’s stock.
Apple Company Profile
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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