Morgan Stanley Analysts Give Apple Inc. (AAPL) a $200.00 Price Target
Apple Inc. (NASDAQ:AAPL) received a $200.00 target price from research analysts at Morgan Stanley in a report issued on Friday. The firm presently has a “buy” rating on the iPhone maker’s stock. Morgan Stanley’s price target points to a potential upside of 18.97% from the stock’s previous close.
AAPL has been the subject of a number of other research reports. UBS AG reiterated a “buy” rating and set a $170.00 price objective on shares of Apple in a research report on Monday, July 31st. Wells Fargo & Company reiterated a “market perform” rating and set a $140.00 price objective on shares of Apple in a research report on Saturday, July 22nd. KeyCorp reiterated an “equal weight” rating on shares of Apple in a research report on Friday, August 4th. Barclays PLC reiterated a “hold” rating and set a $146.00 price objective on shares of Apple in a research report on Monday, September 4th. Finally, Royal Bank Of Canada increased their price objective on Apple from $176.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, September 1st. Seven research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $197.68.
Apple (NASDAQ:AAPL) last released its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. Apple had a return on equity of 36.36% and a net margin of 21.09%. The firm had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. During the same period in the prior year, the firm posted $1.50 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year.
In other news, insider Philip W. Schiller sold 56,808 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were 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, SVP D Bruce Sewell sold 31,625 shares of Apple stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the sale, the senior vice president now owns 112,430 shares of the company’s stock, valued at $17,778,555.90. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock valued at $85,864,804 over the last 90 days. 0.08% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in AAPL. Blue Sky Asset Management LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $108,000. Hefty Wealth Partners increased its stake in shares of 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 buying an additional 174 shares during the period. FNY Managed Accounts LLC increased its stake in shares of 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 buying an additional 716 shares during the period. Armbruster Capital Management Inc. increased its position in Apple by 35.1% during the 3rd quarter. Armbruster Capital Management Inc. now owns 1,024 shares of the iPhone maker’s stock valued at $116,000 after purchasing an additional 266 shares during the period. Finally, American Beacon Advisors Inc. purchased a new position in Apple during the 1st quarter valued at $117,000. Institutional investors and hedge funds 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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