Nomura Reiterates “$185.00” Price Target for Apple Inc. (AAPL)
Several other brokerages also recently commented on AAPL. Vetr raised shares of Apple from a buy rating to a strong-buy rating and set a $173.06 target price on the stock in a research note on Friday, September 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $170.00 target price on shares of Apple in a research note on Wednesday, June 21st. Maxim Group lifted their target price on shares of Apple from $171.00 to $180.00 and gave the stock a buy rating in a research note on Monday, June 19th. UBS AG reaffirmed a buy rating and issued a $170.00 target price on shares of Apple in a research note on Wednesday, May 31st. Finally, Drexel Hamilton reaffirmed a buy rating and issued a $202.00 target price on shares of Apple in a research note on Tuesday, June 6th. Ten research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the stock. Apple presently has a consensus rating of Buy and an average target price of $188.96.
Shares of Apple (NASDAQ:AAPL) opened at 154.23 on Monday. Apple has a 1-year low of $104.08 and a 1-year high of $164.94. The company has a market capitalization of $796.63 billion, a price-to-earnings ratio of 17.51 and a beta of 1.27. The stock has a 50 day moving average of $159.51 and a 200-day moving average of $149.86.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.42 earnings per share. Analysts forecast that Apple will post $9.01 earnings per share for the current year.
In related news, 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 value of $43,148,912.49. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 432,930 shares of company stock worth $69,008,577. 0.08% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of AAPL. Blue Sky Asset Management LLC purchased a new position in Apple in the 2nd quarter worth about $108,000. Hefty Wealth Partners raised its position in Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares during the last quarter. FNY Managed Accounts LLC raised its position in Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in Apple in the 1st quarter worth about $117,000. Finally, Private Vista LLC purchased a new position in Apple in the 2nd quarter worth about $122,000. 60.35% of the stock is owned by institutional investors and hedge funds.
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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