Apple (NASDAQ:AAPL) has been given a $188.00 target price by equities researchers at Macquarie in a report released on Friday. The firm currently has a “buy” rating on the iPhone maker’s stock. Macquarie’s price target indicates a potential upside of 9.61% from the company’s previous close.
Several other research firms have also recently commented on AAPL. Mizuho restated a “neutral” rating and set a $175.00 target price (up from $160.00) on shares of Apple in a research report on Friday, January 19th. Zacks Investment Research cut Apple from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. Barclays set a $174.00 target price on Apple and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Bank of America cut Apple from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $180.00 to $220.00 in a research report on Wednesday, January 17th. Finally, Atlantic Securities cut Apple from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $177.35 to $190.00 in a research report on Monday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. Apple presently has an average rating of “Buy” and a consensus target price of $200.70.
Shares of Apple (NASDAQ:AAPL) traded up $0.40 during midday trading on Friday, hitting $171.51. The stock had a trading volume of 39,068,242 shares, compared to its average volume of 27,000,000. The stock has a market capitalization of $880,590.00, a PE ratio of 18.66, a PEG ratio of 1.40 and a beta of 1.23. Apple has a one year low of $120.62 and a one year high of $180.10. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.
In other news, insider Eduardo H. Cue sold 65,361 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the business’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 completion of the sale, the insider now directly owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The disclosure for this sale can be found here. In the last three months, insiders sold 128,412 shares of company stock valued at $22,115,155. 0.08% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAPL. Stone House Investment Management LLC raised its position 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 during the last quarter. Jackson Grant Investment Advisers Inc. raised its position 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 during the last quarter. Karp Capital Management Corp raised its position 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 during the last quarter. Welch Investments LLC raised its position 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 during the last quarter. Finally, Berkeley Capital Partners LLC raised its position 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 during the last quarter. 60.20% of the stock is owned by institutional investors.
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.
