Apple Inc. (AAPL) Price Target Raised to $190.00
Apple Inc. (NASDAQ:AAPL) had its price objective upped by Royal Bank Of Canada from $180.00 to $190.00 in a research note published on Friday, Marketbeat Ratings reports. They currently have an outperform rating on the iPhone maker’s stock.
Several other research firms have also issued reports on AAPL. HSBC Holdings plc set a $193.00 price objective on shares of Apple and gave the company a buy rating in a research note on Wednesday, November 1st. Maxim Group reaffirmed a buy rating and issued a $193.00 price objective on shares of Apple in a research note on Thursday, November 2nd. Citigroup Inc. reaffirmed a buy rating and issued a $200.00 price objective (up previously from $170.00) on shares of Apple in a research note on Friday. They noted that the move was a valuation call. Loop Capital lifted their price objective on shares of Apple from $180.00 to $200.00 and gave the company a buy rating in a research note on Friday. Finally, Vetr lowered shares of Apple from a buy rating to a hold rating and set a $171.48 price objective for the company. in a research note on Monday, October 30th. Seven investment analysts have rated the stock with a hold rating and forty-six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $199.14.
Apple (AAPL) traded up $1.75 during mid-day trading on Friday, hitting $174.25. 34,242,566 shares of the company traded hands, compared to its average volume of 26,140,000. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. Apple has a 1-year low of $104.08 and a 1-year high of $175.25. The firm has a market cap of $896,860.00, a price-to-earnings ratio of 18.75, a PEG ratio of 1.40 and a beta of 1.25.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. During the same quarter in the previous year, the business earned $1.50 EPS. Apple’s quarterly revenue was up 12.2% compared to the same quarter last year. sell-side analysts anticipate that Apple will post 11.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s payout ratio is 27.42%.
In other news, CEO Timothy D. Cook sold 268,623 shares of the 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 filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 411,389 shares of company stock worth $65,364,467. Insiders own 0.08% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Saratoga Research & Investment Management increased its position in shares of Apple by 0.6% in the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after purchasing an additional 4,137 shares during the last quarter. Pinnacle Bank bought a new position in shares of Apple in the first quarter worth approximately $1,924,000. Green Square Capital LLC increased its position in shares of Apple by 6.7% in the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after purchasing an additional 5,491 shares during the last quarter. Headinvest LLC increased its position in shares of Apple by 2.5% in the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after purchasing an additional 390 shares during the last quarter. Finally, Lederer & Associates Investment Counsel CA increased its position in shares of Apple by 2.1% in the second quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock worth $5,377,000 after purchasing an additional 779 shares during the last quarter. Institutional investors own 60.30% 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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