J P Morgan Chase & Co Reiterates $165.00 Price Target for Apple Inc. (NASDAQ:AAPL)
J P Morgan Chase & Co set a $165.00 price target on Apple Inc. (NASDAQ:AAPL) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the iPhone maker’s stock.
AAPL has been the topic of a number of other reports. Keefe, Bruyette & Woods set a $170.00 target price on shares of Apple and gave the company a buy rating in a research note on Monday, May 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $170.00 target price on shares of Apple in a research note on Wednesday, June 21st. Nomura reaffirmed a buy rating and issued a $165.00 target price on shares of Apple in a research note on Wednesday, July 5th. Barclays PLC set a $123.00 target price on shares of Apple and gave the company a neutral rating in a research note on Wednesday, May 3rd. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $177.00 target price (up from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Eleven investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $160.38.
Apple (AAPL) opened at 150.27 on Wednesday. The stock has a 50 day moving average of $147.46 and a 200 day moving average of $140.51. The firm has a market capitalization of $783.48 billion, a PE ratio of 17.63 and a beta of 1.31. Apple has a 12 month low of $96.42 and a 12 month high of $156.65.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. The business had revenue of $52.90 billion for the quarter, compared to the consensus estimate of $52.61 billion. Apple had a net margin of 20.74% and a return on equity of 35.09%. On average, equities analysts predict that Apple will post $8.91 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This article was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://www.watchlistnews.com/j-p-morgan-chase-co-reiterates-165-00-price-target-for-apple-inc-nasdaqaapl/1456477.html.
Apple declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 6.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
In other Apple news, SVP D Bruce Sewell sold 67,500 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $148.76, for a total value of $10,041,300.00. Following the sale, the senior vice president now directly owns 141,325 shares of the company’s stock, valued at $21,023,507. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $153.88, for a total value of $5,385,800.00. Following the completion of the sale, the director now directly owns 1,168,283 shares in the company, valued at $179,775,388.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 373,000 shares of company stock valued at $56,497,046. 0.08% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of AAPL. Fairview Capital Investment Management LLC raised its stake in shares of Apple by 2.7% in the fourth quarter. Fairview Capital Investment Management LLC now owns 13,481 shares of the iPhone maker’s stock valued at $1,561,000 after buying an additional 350 shares during the last quarter. Norges Bank acquired a new stake in shares of Apple during the fourth quarter valued at approximately $5,625,709,000. Perigon Wealth Management LLC raised its stake in shares of Apple by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock valued at $20,613,000 after buying an additional 8,233 shares during the last quarter. IFM Investors Pty Ltd acquired a new stake in shares of Apple during the fourth quarter valued at approximately $7,910,000. Finally, RB Capital Management LLC acquired a new stake in shares of Apple during the fourth quarter valued at approximately $5,793,000. 61.21% of the stock is currently owned by 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.
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.