Atlantic Securities Reiterates $190.00 Price Target for Apple Inc. (AAPL)
Apple Inc. (NASDAQ:AAPL) received a $190.00 price target from investment analysts at Atlantic Securities in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the iPhone maker’s stock. Atlantic Securities’ target price would suggest a potential upside of 13.02% from the company’s previous close.
AAPL has been the subject of several other research reports. UBS AG reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Monday, July 31st. Wells Fargo & Company restated a “market perform” rating and set a $140.00 price objective on shares of Apple in a research report on Saturday, July 22nd. KeyCorp restated an “equal weight” rating on shares of Apple in a research report on Friday, August 4th. Morgan Stanley boosted their price objective on shares of Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Finally, Barclays PLC restated a “hold” rating and set a $146.00 price objective on shares of Apple in a research report on Monday, September 4th. Seven research analysts have rated the stock with a hold rating and forty-six have given a buy rating to the stock. Apple currently has a consensus rating of “Buy” and an average target price of $197.68.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.36%. The company had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The firm’s revenue was up 12.2% on a year-over-year basis.
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In related news, insider Philip W. Schiller sold 56,808 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the business’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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 541,177 shares of company stock valued at $85,864,804. Corporate insiders own 0.08% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Sky Asset Management LLC acquired a new stake in Apple in the 2nd quarter worth approximately $108,000. Hefty Wealth Partners lifted its holdings in Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares during the last quarter. FNY Managed Accounts LLC lifted its holdings in Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares during the last quarter. American Beacon Advisors Inc. acquired a new stake in Apple in the 1st quarter worth approximately $117,000. Finally, Private Vista LLC acquired a new stake in Apple in the 2nd quarter worth approximately $122,000. 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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