Cascend Securities Increases Apple (AAPL) Price Target to $220.00

Apple (NASDAQ:AAPL) had its target price increased by investment analysts at Cascend Securities from $200.00 to $220.00 in a research report issued on Monday. The firm presently has a “buy” rating on the iPhone maker’s stock. Cascend Securities’ target price would suggest a potential upside of 28.27% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Citigroup reaffirmed a “buy” rating and issued a $200.00 target price on shares of Apple in a research report on Wednesday, December 13th. Drexel Hamilton reaffirmed a “buy” rating and issued a $208.00 target price on shares of Apple in a research report on Tuesday, October 24th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $200.00 target price (up from $196.00) on shares of Apple in a research report on Tuesday, October 31st. Bank of America downgraded Apple from a “buy” rating to a “neutral” rating and lifted their target price for the company from $180.00 to $220.00 in a research report on Wednesday, January 17th. Finally, Vetr downgraded Apple from a “buy” rating to a “hold” rating and set a $171.48 target price for the company. in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $201.12.

Apple (NASDAQ AAPL) opened at $171.51 on Monday. The firm has a market capitalization of $872,480.88, a PE ratio of 18.64, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23. Apple has a 52-week low of $120.62 and a 52-week high of $180.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. Apple’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. equities research analysts anticipate that Apple will post 11.17 earnings per share for the current year.

In related news, SVP Johny Srouji sold 5,760 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the sale, the senior vice president now directly owns 81,560 shares in the company, valued at approximately $14,224,064. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $174.78, for a total value of $2,733,733.98. Following the sale, the insider now owns 13,739 shares in the company, valued at $2,401,302.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,412 shares of company stock worth $22,115,155. Company insiders own 0.06% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Stone House Investment Management LLC grew its stake in Apple by 0.4% during the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after purchasing an additional 6 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its stake in Apple by 0.3% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after purchasing an additional 17 shares in the last quarter. Karp Capital Management Corp grew its stake in Apple by 1.6% during the 2nd quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock valued at $206,000 after purchasing an additional 22 shares in the last quarter. Welch Investments LLC grew its stake in Apple by 1.5% during the 2nd quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock valued at $231,000 after purchasing an additional 23 shares in the last quarter. Finally, Berkeley Capital Partners LLC grew its stake in Apple by 0.6% during the 2nd quarter. Berkeley Capital Partners LLC now owns 4,369 shares of the iPhone maker’s stock valued at $629,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

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Apple Company Profile

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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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