Apple Inc. (AAPL) Price Target Increased to $180.00 by Analysts at Royal Bank Of Canada
Apple Inc. (NASDAQ:AAPL) had its target price lifted by equities researchers at Royal Bank Of Canada from $176.00 to $180.00 in a research report issued on Friday. The brokerage presently has an “outperform” rating on the iPhone maker’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 9.76% from the stock’s current price.
Several other research firms also recently commented on AAPL. Barclays PLC reissued a “hold” rating and set a $146.00 target price on shares of Apple in a research report on Tuesday, August 15th. BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Cleveland Research raised shares of Apple from a “neutral” rating to a “buy” rating and set a $197.00 target price on the stock in a research report on Tuesday. UBS AG reissued a “buy” rating and set a $180.00 target price on shares of Apple in a research report on Tuesday. Finally, Drexel Hamilton reissued a “buy” rating and set a $208.00 target price on shares of Apple in a research report on Wednesday, August 9th. Eleven equities research analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Apple currently has an average rating of “Buy” and a consensus target price of $168.67.
Apple (NASDAQ:AAPL) opened at 164.00 on Friday. The company has a 50-day moving average price of $155.91 and a 200-day moving average price of $147.64. Apple has a one year low of $102.53 and a one year high of $164.52. The firm has a market cap of $847.10 billion, a PE ratio of 18.62 and a beta of 1.31.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same period in the prior year, the business posted $1.42 earnings per share. Apple’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts predict that Apple will post $9.02 earnings per share for the current fiscal year.
In other news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $155.32, for a total transaction of $1,855,918.68. Following the completion of the sale, the insider now owns 13,049 shares of the company’s stock, valued at approximately $2,026,770.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold a total of 444,879 shares of company stock valued at $70,864,495 in the last ninety days. Insiders own 0.08% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Vantage Financial Partners Ltd. Inc. acquired a new stake in Apple during the second quarter valued at approximately $400,000. Blue Sky Asset Management LLC acquired a new stake in Apple during the second quarter valued at approximately $108,000. FNY Managed Accounts LLC raised 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 buying an additional 716 shares during the last quarter. Hefty Wealth Partners raised its stake in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares during the last quarter. Finally, American Beacon Advisors Inc. acquired a new stake in Apple during the first quarter valued at approximately $117,000. 60.43% of the stock is owned by hedge funds and other institutional investors.
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.
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