Apple Inc. (AAPL) Given a $160.00 Price Target at Mizuho
Apple Inc. (NASDAQ:AAPL) received a $160.00 price target from investment analysts at Mizuho in a research report issued on Wednesday. The brokerage currently has a “hold” rating on the iPhone maker’s stock. Mizuho’s target price indicates a potential upside of 2.40% from the stock’s current price.
Several other research firms have also recently weighed in on AAPL. Barclays PLC reaffirmed a “hold” rating and set a $146.00 price objective on shares of Apple in a research report on Monday, September 4th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $190.00 price objective on shares of Apple in a research report on Tuesday, September 5th. Robert W. Baird reaffirmed a “buy” rating and set a $172.00 price objective on shares of Apple in a research report on Tuesday, September 5th. Royal Bank Of Canada lifted their price objective on Apple from $176.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, September 1st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Apple in a research report on Wednesday, September 6th. Seven investment analysts have rated the stock with a hold rating and forty-seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $190.67.
Apple (AAPL) traded up 0.17% on Wednesday, reaching $156.25. The company had a trading volume of 23,974,146 shares. The firm has a market capitalization of $135.98 billion, a price-to-earnings ratio of 17.70 and a beta of 1.27. The company’s 50 day moving average is $157.09 and its 200-day moving average is $152.10. Apple has a one year low of $104.08 and a one year high of $164.94.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 EPS. On average, equities research analysts expect that Apple will post $9.01 earnings per share for the current fiscal year.
In related news, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 541,177 shares of company stock worth $85,864,804. 0.08% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in AAPL. Blue Sky Asset Management LLC acquired a new stake in shares of Apple in the second quarter valued at about $108,000. Hefty Wealth Partners grew its position in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares during the period. FNY Managed Accounts LLC grew its position in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares during the period. American Beacon Advisors Inc. acquired a new stake in shares of Apple in the first quarter valued at about $117,000. Finally, Private Vista LLC acquired a new stake in shares of Apple in the second quarter valued at about $122,000. Institutional investors own 60.33% 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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