Apple Inc. (AAPL) PT Raised to $200.00
Apple Inc. (NASDAQ:AAPL) had its target price boosted by investment analysts at Needham & Company LLC from $175.00 to $200.00 in a report issued on Friday, The Fly reports. The firm presently has a “buy” rating on the iPhone maker’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 18.97% from the stock’s previous close.
Several other brokerages have also recently issued reports on AAPL. HSBC Holdings plc set a $193.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Wednesday. Maxim Group reissued a “buy” rating and issued a $193.00 price objective on shares of Apple in a research note on Thursday. Citigroup Inc. reissued a “buy” rating and issued a $200.00 price objective on shares of Apple in a research note on Friday. They noted that the move was a valuation call. BMO Capital Markets upped their price target on shares of Apple to $195.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Royal Bank Of Canada upped their price target on shares of Apple from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company. Apple currently has an average rating of “Buy” and a consensus price target of $196.18.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS.
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In related news, insider Angela J. Ahrendts sold 63,388 shares of the business’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total value of $9,775,063.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Philip W. Schiller sold 56,808 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total value of $8,788,197.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 541,177 shares of company stock worth $85,864,804. 0.08% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of AAPL. Blue Sky Asset Management LLC acquired a new position in Apple in the second quarter worth $108,000. Hefty Wealth Partners boosted its stake in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares in the last quarter. FNY Managed Accounts LLC boosted its stake in Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares in the last quarter. American Beacon Advisors Inc. acquired a new position in Apple in the first quarter worth $117,000. Finally, Private Vista LLC acquired a new position in Apple in the second quarter worth $122,000. 60.33% of the stock is currently owned by institutional investors.
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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