Apple Inc. (AAPL) PT Set at $132.00 by Macquarie
Apple Inc. (NASDAQ:AAPL) has been given a $132.00 target price by equities researchers at Macquarie in a note issued to investors on Wednesday. The brokerage presently has a a “buy” rating on the iPhone maker’s stock. Macquarie’s price objective would indicate a potential upside of 12.37% from the company’s previous close.
A number of other analysts also recently issued reports on AAPL. Raymond James Financial Inc. reaffirmed a “hold” rating on shares of Apple in a report on Saturday, July 9th. Barclays PLC reaffirmed a “buy” rating on shares of Apple in a report on Sunday, July 17th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $150.00 price objective on shares of Apple in a report on Sunday, July 17th. Brean Capital reaffirmed a “buy” rating and set a $125.00 price objective on shares of Apple in a report on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Apple in a report on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, forty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Apple has an average rating of “Buy” and a consensus price target of $127.47.
Apple (NASDAQ:AAPL) traded down 0.072% on Wednesday, hitting $117.385. The stock had a trading volume of 6,610,366 shares. The company has a 50 day moving average of $112.17 and a 200 day moving average of $103.69. The company has a market capitalization of $632.52 billion, a PE ratio of 13.688 and a beta of 1.22. 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 announced its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. During the same period last year, the firm earned $1.85 EPS. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, equities analysts expect that Apple will post $8.26 earnings per share for the current year.
In related news, insider Daniel J. Riccio sold 22,381 shares of Apple stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total transaction of $2,530,395.86. Following the completion of the sale, the insider now owns 47,043 shares in the company, valued at approximately $5,318,681.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of Apple 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. Corporate insiders own 0.08% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Weaver C. Barksdale & Associates Inc. bought a new stake in Apple during the third quarter worth approximately $122,000. Penserra Capital Management LLC boosted 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 valued at $103,000 after buying an additional 304 shares during the period. D. Scott Neal Inc. boosted its stake in Apple by 701.3% in the third quarter. D. Scott Neal Inc. now owns 1,202 shares of the iPhone maker’s stock valued at $136,000 after buying an additional 1,052 shares during the period. Delphi Private Advisors LLC boosted 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 valued at $140,000 after buying an additional 69 shares during the period. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Apple during the second quarter valued at approximately $143,000. 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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