Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating restated by equities researchers at Mizuho in a note issued to investors on Friday, MarketBeat reports. They presently have a $175.00 price objective on the iPhone maker’s stock, up from their previous price objective of $160.00. Mizuho’s price target indicates a potential downside of 1.94% from the company’s current price.
Several other research analysts also recently commented on the company. Barclays set a $174.00 price objective on Apple and gave the company a “neutral” rating in a research note on Thursday. Zacks Investment Research raised Apple from a “hold” rating to a “buy” rating and set a $197.00 price objective for the company in a research note on Thursday. Bank of America cut Apple from a “buy” rating to a “neutral” rating and upped their target price for the company from $180.00 to $220.00 in a report on Wednesday. Longbow Research cut Apple from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Maxim Group upped their target price on Apple from $193.00 to $204.00 and gave the company a “buy” rating in a report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $200.59.
Apple (NASDAQ AAPL) traded down $0.80 during midday trading on Friday, reaching $178.46. The company had a trading volume of 31,306,224 shares, compared to its average volume of 25,510,000. Apple has a 1 year low of $119.50 and a 1 year high of $180.10. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $912,180.00, a P/E ratio of 19.42, a P/E/G ratio of 1.45 and a beta of 1.23.
In other news, insider Eduardo H. Cue sold 65,361 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the completion of the transaction, the insider now directly owns 13,739 shares of the company’s stock, valued at $2,401,302.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,412 shares of company stock valued at $22,115,155. Insiders own 0.08% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Sky Asset Management LLC acquired a new position in Apple in the second quarter valued at $108,000. FNY Managed Accounts LLC increased 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 valued at $115,000 after purchasing an additional 716 shares during the last quarter. Private Vista LLC acquired a new position in Apple in the second quarter valued at $122,000. Armbruster Capital Management Inc. increased its stake in Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after purchasing an additional 78 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Apple in the second quarter valued at $149,000. 60.19% of the stock is owned by institutional investors.
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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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