Macquarie Analysts Give Apple Inc. (AAPL) a $188.00 Price Target
Apple Inc. (NASDAQ:AAPL) has been given a $188.00 target price by equities researchers at Macquarie in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the iPhone maker’s stock. Macquarie’s target price indicates a potential upside of 11.83% from the company’s current price.
Other equities analysts have also recently issued research reports about the company. Oppenheimer Holdings, Inc. restated a “” rating on shares of Apple in a report on Thursday, August 10th. J P Morgan Chase & Co set a $165.00 price target on Apple and gave the stock a “buy” rating in a report on Wednesday, July 19th. Vetr cut Apple from a “strong-buy” rating to a “buy” rating and set a $165.66 price target for the company. in a report on Tuesday, July 18th. Canaccord Genuity restated a “buy” rating and issued a $180.00 price target on shares of Apple in a report on Monday, July 10th. Finally, Credit Suisse Group restated a “buy” rating and issued a $170.00 price target on shares of Apple in a report on Sunday, July 9th. Seven equities research analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company’s stock. Apple presently has a consensus rating of “Buy” and an average price target of $197.68.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share 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 analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.36% and a net margin of 21.09%. Apple’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 EPS.
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In other news, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the transaction, 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.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Berkshire Hathaway Inc. increased 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 worth $18,750,246,000 after acquiring an additional 834,854 shares during the period. Capital Research Global Investors increased its stake in Apple by 15.0% during the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after acquiring an additional 3,845,363 shares during the period. Legal & General Group Plc increased its stake in Apple by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock worth $3,759,849,000 after acquiring an additional 771,046 shares during the period. Janus Henderson Group PLC increased its stake in Apple by 301.3% during the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after acquiring an additional 15,018,790 shares during the period. Finally, Swiss National Bank increased its stake in Apple by 0.4% during the 3rd quarter. Swiss National Bank now owns 19,248,516 shares of the iPhone maker’s stock worth $2,966,581,000 after acquiring an additional 79,100 shares during the period. 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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