Apple Inc. (AAPL) PT Raised to $130.00
Apple Inc. (NASDAQ:AAPL) had its price target raised by research analysts at Citigroup Inc. from $120.00 to $130.00 in a note issued to investors on Friday. The brokerage presently has a “buy” rating on the iPhone maker’s stock. Citigroup Inc.’s price objective points to a potential upside of 15.54% from the company’s previous close.
A number of other equities analysts have also weighed in on AAPL. Goldman Sachs Group Inc. dropped their target price on shares of Apple from $136.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, June 2nd. Rosenblatt Securities restated a “hold” rating on shares of Apple in a research report on Thursday, June 2nd. Robert W. Baird reaffirmed a “buy” rating on shares of Apple in a research note on Thursday, June 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $120.00 price target on shares of Apple in a research note on Friday, June 3rd. Finally, Vetr downgraded shares of Apple from a “strong-buy” rating to a “buy” rating and set a $110.21 price target on the stock. in a research note on Monday, June 6th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, forty-one have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $126.13.
Shares of Apple (NASDAQ:AAPL) opened at 112.52 on Friday. Apple has a one year low of $89.47 and a one year high of $123.82. The firm has a 50-day moving average of $109.88 and a 200-day moving average of $102.98. The company has a market cap of $606.31 billion, a price-to-earnings ratio of 13.12 and a beta of 1.22.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. Apple’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities research analysts forecast that Apple will post $8.26 EPS for the current fiscal year.
In other news, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction on Monday, July 18th. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the transaction, the senior vice president now owns 105,839 shares in the company, valued at approximately $10,583,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Angela J. Ahrendts sold 35,797 shares of Apple stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $100.00, for a total value of $3,579,700.00. Following the transaction, the senior vice president now owns 105,839 shares in the company, valued at approximately $10,583,900. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC raised its position in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock valued at $103,000 after buying an additional 304 shares in the last quarter. Delphi Private Advisors LLC raised its position in Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock valued at $140,000 after buying an additional 69 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in Apple during the second quarter valued at approximately $143,000. River & Mercantile Asset Management LLP raised its position in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 334 shares in the last quarter. Finally, Roble Belko & Company Inc raised its position in Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 680 shares in the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.
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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