Goldman Sachs Group Inc. set a $124.00 target price on Apple Inc. (NASDAQ:AAPL) in a research note released on Wednesday morning. The brokerage currently has a a buy rating on the iPhone maker’s stock.
AAPL has been the topic of a number of other reports. Mizuho upped their price target on shares of Apple from $120.00 to $130.00 and gave the stock a buy rating in a research note on Wednesday, October 12th. RBC Capital Markets reaffirmed an outperform rating and set a $125.00 price target on shares of Apple in a research note on Monday, October 10th. Drexel Hamilton reaffirmed a buy rating and set a $185.00 price target on shares of Apple in a research note on Monday, October 10th. William Blair reaffirmed an outperform rating on shares of Apple in a research note on Monday, October 10th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $140.00 price target on shares of Apple in a research note on Saturday, October 8th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $126.74.
Apple (NASDAQ:AAPL) opened at 117.63 on Wednesday. The stock has a market capitalization of $633.84 billion, a P/E ratio of 13.72 and a beta of 1.22. The stock has a 50 day moving average of $111.56 and a 200 day moving average of $103.65. Apple has a 1-year low of $89.47 and a 1-year high of $123.82.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The company earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. Apple’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. On average, analysts expect that Apple will post $8.26 earnings per share for the current year.
In other Apple news, COO Jeffrey E. Williams sold 43,769 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $112.59, for a total value of $4,927,951.71. Following the completion of the transaction, the chief operating officer now directly owns 90,657 shares in the company, valued at $10,207,071.63. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP D Bruce Sewell sold 23,305 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $107.49, for a total value of $2,505,054.45. Following the completion of the transaction, the senior vice president now owns 239,329 shares of the company’s stock, valued at $25,725,474.21. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC boosted its stake in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares during the last quarter. Weaver C. Barksdale & Associates Inc. acquired a new stake in Apple during the third quarter worth about $122,000. Delphi Private Advisors LLC boosted its stake in Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Apple during the second quarter worth about $143,000. Finally, River & Mercantile Asset Management LLP boosted its stake 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 worth $172,000 after buying an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 56.41% 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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