Apple Inc. (AAPL) Given a $195.00 Price Target at Sanford C. Bernstein
Apple Inc. (NASDAQ:AAPL) received a $195.00 price objective from equities researchers at Sanford C. Bernstein in a research report issued on Friday. The brokerage currently has a “buy” rating on the iPhone maker’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 16.00% from the stock’s current price.
Several other analysts have also recently issued reports on the company. Robert W. Baird set a $190.00 target price on Apple and gave the company a “buy” rating in a report on Friday. Macquarie set a $188.00 target price on Apple and gave the company a “buy” rating in a report on Friday. Atlantic Securities set a $190.00 target price on Apple and gave the company a “buy” rating in a report on Friday. UBS AG set a $190.00 target price on Apple and gave the company a “buy” rating in a report on Friday. Finally, Rosenblatt Securities upgraded Apple from a “neutral” rating to a “buy” rating and upped their target price for the company from $150.00 to $180.00 in a report on Friday. Seven investment analysts have rated the stock with a hold rating and forty-six have given a buy rating to the company. Apple currently has an average rating of “Buy” and an average price target of $197.68.
Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.36% and a net margin of 21.09%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.50 EPS.
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In other news, insider Philip W. Schiller sold 56,808 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total transaction of $8,788,197.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johny Srouji sold 5,892 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $161.00, for a total value of $948,612.00. Following the sale, the insider now owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The disclosure for this sale can be found here. Insiders have sold a total of 541,177 shares of company stock valued at $85,864,804 in the last quarter. Insiders own 0.08% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Apple by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 331,395,817 shares of the iPhone maker’s stock valued at $31,681,440,000 after acquiring an additional 1,408,642 shares during the last quarter. State Street Corp raised its stake in Apple by 2.0% during the 4th quarter. State Street Corp now owns 219,739,579 shares of the iPhone maker’s stock valued at $25,450,260,000 after purchasing an additional 4,301,005 shares during the period. Berkshire Hathaway Inc. raised its stake in Apple by 0.6% during the 2nd quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after purchasing an additional 834,854 shares during the period. Norges Bank acquired a new stake in Apple during the 4th quarter valued at $5,625,709,000. Finally, Geode Capital Management LLC raised its stake in Apple by 3.1% during the 1st quarter. Geode Capital Management LLC now owns 48,165,627 shares of the iPhone maker’s stock valued at $5,239,620,000 after purchasing an additional 1,458,142 shares during the period. Institutional investors own 60.33% 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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