Apple Inc. (AAPL) Price Target Raised to $182.00
Apple Inc. (NASDAQ:AAPL) had its price objective increased by Royal Bank Of Canada from $180.00 to $182.00 in a research report sent to investors on Thursday. Royal Bank Of Canada currently has a buy rating on the iPhone maker’s stock.
A number of other research firms have also weighed in on AAPL. Drexel Hamilton reaffirmed a buy rating and issued a $202.00 price objective on shares of Apple in a research note on Thursday, July 6th. Barclays PLC reaffirmed a hold rating and issued a $146.00 price objective on shares of Apple in a research note on Monday, September 4th. Instinet reaffirmed a buy rating and issued a $165.00 price objective on shares of Apple in a research note on Wednesday, July 5th. Morgan Stanley reaffirmed an overweight rating and issued a $182.00 price objective on shares of Apple in a research note on Tuesday, September 12th. Finally, Credit Suisse Group reaffirmed an outperform rating and issued a $170.00 price objective on shares of Apple in a research note on Tuesday, July 25th. Eleven investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. Apple has a consensus rating of Buy and a consensus price target of $187.63.
Shares of Apple (NASDAQ:AAPL) opened at 159.88 on Thursday. Apple has a 12-month low of $104.08 and a 12-month high of $164.94. The firm has a 50 day moving average price of $158.97 and a 200 day moving average price of $149.42. The stock has a market cap of $825.82 billion, a PE ratio of 18.15 and a beta of 1.27.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.42 earnings per share. On average, equities analysts expect that Apple will post $9.01 EPS for the current year.
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In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the firm’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total transaction of $1,707,034.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was 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 432,930 shares of company stock worth $69,008,577 in the last ninety days. 0.08% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Blue Sky Asset Management LLC acquired a new position in Apple during the 2nd quarter worth $108,000. Hefty Wealth Partners boosted its holdings in shares of Apple by 27.6% in the 2nd 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 period. FNY Managed Accounts LLC boosted its holdings in shares of Apple by 852.4% in the 2nd 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 period. American Beacon Advisors Inc. acquired a new position in shares of Apple in the 1st quarter valued at about $117,000. Finally, Private Vista LLC acquired a new position in shares of Apple in the 2nd quarter valued at about $122,000. 60.45% of the stock is owned by institutional investors.
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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