Apple Inc. (AAPL) Price Target Raised to $133.00
A number of other research firms have also recently commented on AAPL. Vetr upgraded Apple and set a $100.00 target price on the stock in a research note on Thursday, July 14th. Credit Suisse Group AG reiterated an average rating and set a $93.49 target price (down from $150.00) on shares of Apple in a research note on Wednesday, May 18th. Morgan Stanley set a $120.00 target price on Apple and gave the stock a buy rating in a research note on Wednesday, May 25th. BMO Capital Markets reiterated a buy rating and set a $117.00 target price on shares of Apple in a research note on Tuesday, May 24th. Finally, Pacific Crest upgraded Apple to a buy rating in a research note on Tuesday, May 24th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, forty-two have assigned a buy rating and two have given a strong buy rating to the company. Apple currently has an average rating of Buy and a consensus target price of $126.49.
Apple (NASDAQ:AAPL) opened at 113.58 on Thursday. The company has a 50 day moving average of $108.13 and a 200 day moving average of $102.24. The firm has a market capitalization of $612.02 billion, a P/E ratio of 13.24 and a beta of 1.14. Apple has a 1-year low of $89.47 and a 1-year high of $123.82.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. During the same period last year, the business earned $1.85 EPS. The business’s revenue was down 14.6% on a year-over-year basis. On average, equities research analysts anticipate that Apple will post $8.26 earnings per share for the current year.
In other news, SVP Daniel J. Riccio sold 49,996 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $105.95, for a total value of $5,297,076.20. Following the sale, the senior vice president now owns 67,143 shares of the company’s stock, valued at $7,113,800.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Johny Srouji sold 9,827 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $108.44, for a total transaction of $1,065,639.88. Following the completion of the sale, the insider now directly owns 116,369 shares in the company, valued at approximately $12,619,054.36. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Perigon Wealth Management LLC raised its stake in shares of Apple by 4.2% in the fourth quarter. Perigon Wealth Management LLC now owns 118,957 shares of the iPhone maker’s stock worth $12,521,000 after buying an additional 4,753 shares in the last quarter. Cornerstone Advisory LLP acquired a new stake in shares of Apple during the fourth quarter worth approximately $3,881,000. WESPAC Advisors SoCal LLC acquired a new stake in shares of Apple during the fourth quarter worth approximately $6,299,000. Hendley & Co. Inc. raised its stake in shares of Apple by 1.2% in the fourth quarter. Hendley & Co. Inc. now owns 63,464 shares of the iPhone maker’s stock worth $6,680,000 after buying an additional 763 shares in the last quarter. Finally, B. Riley Financial Inc. acquired a new stake in shares of Apple during the fourth quarter worth approximately $1,741,000. 56.52% of the stock is currently 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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