Apple (NASDAQ:AAPL) received a $180.00 target price from equities researchers at Rosenblatt Securities in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the iPhone maker’s stock. Rosenblatt Securities’ target price suggests a potential upside of 5.53% from the stock’s current price.
AAPL has been the topic of several other reports. Vetr upgraded shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price objective on the stock in a report on Friday, September 22nd. Citigroup reiterated a “buy” rating and set a $200.00 target price (up from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. UBS Group set a $190.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Monday, December 4th. Bank of America reiterated a “buy” rating and set a $180.00 target price on shares of Apple in a report on Tuesday, September 26th. Finally, Pacific Crest upgraded shares of Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 target price on the stock in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $198.61.
Apple (AAPL) opened at $170.57 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. Apple has a fifty-two week low of $114.76 and a fifty-two week high of $177.20. The company has a market cap of $875,760.00, a P/E ratio of 18.56, a PEG ratio of 1.40 and a beta of 1.24.
In other news, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Philip W. Schiller sold 56,808 shares of Apple stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total transaction of $8,788,197.60. The disclosure for this sale can be found here. Insiders have sold a total of 232,967 shares of company stock worth $37,944,683 over the last three months. 0.08% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Apple in the fourth quarter valued at approximately $5,625,709,000. Cohen & Steers Inc. grew its holdings in Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock valued at $999,482,000 after purchasing an additional 22,303,795 shares during the period. Agran Libbie grew its holdings in Apple by 9,945.6% in the fourth quarter. Agran Libbie now owns 21,121,496 shares of the iPhone maker’s stock valued at $22,232,000 after purchasing an additional 20,911,240 shares during the period. Janus Henderson Group PLC grew its stake in Apple by 301.3% during the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after buying an additional 15,018,790 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in Apple by 966.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock worth $1,096,072,000 after buying an additional 8,571,027 shares during the period. 59.61% of the stock is currently owned by institutional investors and hedge funds.
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About Apple
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.
