Apple Inc. (AAPL) PT Set at $190.00 by Robert W. Baird
Apple Inc. (NASDAQ:AAPL) has been assigned a $190.00 target price by investment analysts at Robert W. Baird in a report issued on Friday. The brokerage currently has a “buy” rating on the iPhone maker’s stock. Robert W. Baird’s price target points to a potential upside of 13.02% from the stock’s current price.
Other analysts also recently issued research reports about the stock. BMO Capital Markets reissued an “outperform” rating and set a $170.00 target price on shares of Apple in a research report on Tuesday, July 25th. Maxim Group reissued a “buy” rating and set a $193.00 target price on shares of Apple in a research report on Thursday. Citigroup Inc. reissued a “buy” rating and set a $200.00 target price on shares of Apple in a research report on Friday. They noted that the move was a valuation call. UBS AG set a $190.00 target price on shares of Apple and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank Of Canada increased their target price on shares of Apple from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $197.68.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.36%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 EPS.
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In other Apple news, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $157.58, for a total value of $5,515,300.00. Following the completion of the sale, the director now owns 1,168,283 shares in the company, valued at approximately $184,098,035.14. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock worth $85,864,804 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Saratoga Research & Investment Management raised its stake in Apple by 0.6% in the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock valued at $95,840,000 after buying an additional 4,137 shares during the period. Pinnacle Bank bought a new position in shares of Apple during the first quarter worth approximately $1,924,000. Green Square Capital LLC increased its stake in shares of Apple by 6.7% during the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after purchasing an additional 5,491 shares during the period. Headinvest LLC increased its stake in shares of Apple by 2.5% during the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after purchasing an additional 390 shares during the period. Finally, Lederer & Associates Investment Counsel CA increased its stake in shares of Apple by 2.1% during the second quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock worth $5,377,000 after purchasing an additional 779 shares during the period. Hedge funds and other 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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