BTIG Research Raises Apple Inc. (AAPL) Price Target to $133.00
Apple Inc. (NASDAQ:AAPL) had its price objective lifted by BTIG Research from $124.00 to $133.00 in a report published on Thursday. BTIG Research currently has a buy rating on the iPhone maker’s stock.
AAPL has been the topic of a number of other research reports. Robert W. Baird reiterated a buy rating on shares of Apple in a research report on Thursday, June 2nd. Piper Jaffray Cos. reiterated a buy rating and issued a $153.00 target price on shares of Apple in a research report on Wednesday, June 8th. Nomura reiterated a buy rating and issued a $120.00 target price on shares of Apple in a research report on Monday, May 23rd. RBC Capital Markets reiterated an outperform rating and issued a $115.00 target price on shares of Apple in a research report on Friday, August 5th. Finally, Vetr cut Apple from a hold rating to a sell rating and set a $103.98 target price on the stock. in a research report on Monday, August 8th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, forty-two have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $126.34.
Shares of Apple (NASDAQ:AAPL) opened at 113.57 on Thursday. The company has a 50 day moving average of $108.35 and a 200-day moving average of $102.31. Apple has a 12 month low of $89.47 and a 12 month high of $123.82. The firm has a market capitalization of $611.97 billion, a P/E ratio of 13.24 and a beta of 1.14.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.04. The business earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. Apple’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 earnings per share. Analysts predict that Apple will post $8.26 EPS for the current year.
In other news, CEO Timothy D. Cook sold 334,000 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.23, for a total value of $35,814,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the transaction, the senior vice president now directly owns 105,839 shares of the company’s stock, 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.
Several institutional investors have recently added to or reduced their stakes in AAPL. Vanguard Group Inc. raised its position in Apple by 0.4% in the second quarter. Vanguard Group Inc. now owns 331,395,817 shares of the iPhone maker’s stock worth $31,681,440,000 after buying an additional 1,408,642 shares during the period. Geode Capital Management LLC raised its position in Apple by 3.1% in the first quarter. Geode Capital Management LLC now owns 48,165,627 shares of the iPhone maker’s stock worth $5,239,620,000 after buying an additional 1,458,142 shares during the period. Norges Bank acquired a new position in Apple during the fourth quarter worth $5,068,068,000. BlackRock Group LTD raised its position in Apple by 1.6% in the second quarter. BlackRock Group LTD now owns 48,083,386 shares of the iPhone maker’s stock worth $4,596,772,000 after buying an additional 759,339 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock worth $3,991,635,000 after buying an additional 301,502 shares during the period. 56.45% of the stock is owned by hedge funds and other 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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