Apple Inc. (AAPL) Given a $146.00 Price Target at Barclays PLC
AAPL has been the topic of a number of other research reports. UBS AG reissued a buy rating and issued a $170.00 target price on shares of Apple in a research report on Saturday, May 20th. Canaccord Genuity reissued a buy rating and issued a $180.00 target price on shares of Apple in a research report on Wednesday. Royal Bank Of Canada reissued an outperform rating and issued a $160.08 target price (down previously from $176.00) on shares of Apple in a research report on Wednesday, August 9th. Instinet reissued a buy rating and issued a $185.00 target price on shares of Apple in a research report on Wednesday. Finally, KeyCorp reissued a hold rating on shares of Apple in a research report on Thursday, September 7th. Eleven research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. Apple has an average rating of Buy and a consensus target price of $187.59.
Shares of Apple (NASDAQ AAPL) traded down 0.71% during midday trading on Wednesday, hitting $158.51. The company had a trading volume of 11,852,626 shares. The firm has a market capitalization of $818.74 billion, a P/E ratio of 18.00 and a beta of 1.27. The firm’s 50-day moving average is $158.37 and its 200-day moving average is $149.12. Apple has a 12-month low of $104.08 and a 12-month high of $164.94.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion for 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%. Apple’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. On average, analysts predict that Apple will post $9.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.58%. Apple’s payout ratio is 28.64%.
In other Apple news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $157.58, for a total value of $5,515,300.00. Following the sale, the director now directly owns 1,168,283 shares in the company, valued at $184,098,035.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 432,930 shares of company stock worth $69,008,577. Insiders own 0.08% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Blue Sky Asset Management LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $108,000. Hefty Wealth Partners boosted its position in shares of 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 purchasing an additional 174 shares in the last quarter. FNY Managed Accounts LLC boosted its position 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 worth $115,000 after purchasing an additional 716 shares in the last quarter. American Beacon Advisors Inc. bought a new stake in shares of Apple in the 1st quarter worth approximately $117,000. Finally, Private Vista LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $122,000. 60.45% of the stock is currently owned by institutional investors and hedge funds.
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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