Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating reissued by RBC Capital Markets in a research note issued on Friday. They currently have a $115.00 price target on the iPhone maker’s stock. RBC Capital Markets’ target price would indicate a potential upside of 7.00% from the stock’s current price.
A number of other brokerages have also weighed in on AAPL. Credit Agricole SA restated a “buy” rating and issued a $128.00 target price on shares of Apple in a research note on Thursday, April 14th. Deutsche Bank AG restated a “hold” rating and issued a $105.00 target price on shares of Apple in a research note on Thursday, April 14th. BTIG Research decreased their target price on Apple from $141.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, April 7th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Apple in a research report on Tuesday, April 12th. Finally, Piper Jaffray Cos. reiterated a “buy” rating and set a $172.00 price objective on shares of Apple in a research report on Tuesday, April 12th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus target price of $126.12.
A number of hedge funds recently bought and sold shares of the company. Park National raised its stake in Apple by 2.4% in the fourth quarter. Park National now owns 217,154 shares of the iPhone maker’s stock worth $22,858,000 after buying an additional 5,098 shares in the last quarter. Mathes Company Inc. raised its stake in shares of Apple by 0.8% in the fourth quarter. Mathes Company Inc. now owns 56,785 shares of the iPhone maker’s stock valued at $5,977,000 after buying an additional 445 shares in the last quarter. Integrated Wealth Counsel LLC raised its stake in shares of Apple by 100.8% in the fourth quarter. Integrated Wealth Counsel LLC now owns 27,371 shares of the iPhone maker’s stock valued at $2,949,000 after buying an additional 13,742 shares in the last quarter. Northwest Investment Counselors LLC raised its stake in shares of Apple by 19.9% in the fourth quarter. Northwest Investment Counselors LLC now owns 20,459 shares of the iPhone maker’s stock valued at $2,154,000 after buying an additional 3,393 shares in the last quarter. Finally, Rockland Trust Co. raised its stake in shares of Apple by 2.3% in the fourth quarter. Rockland Trust Co. now owns 10,751 shares of the iPhone maker’s stock valued at $1,132,000 after buying an additional 239 shares in the last quarter.
In other Apple news, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the completion of the sale, the senior vice president now owns 105,839 shares in the company, valued at $10,583,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Angela J. Ahrendts sold 50,000 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $100.00, for a total value of $5,000,000.00. Following the sale, the senior vice president now owns 147,971 shares of the company’s stock, valued at approximately $14,797,100. The disclosure for this sale can be found here.
Shares of Apple (NASDAQ:AAPL) traded up 1.52% during trading on Friday, hitting $107.48. 39,551,655 shares of the stock traded hands. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The firm has a market cap of $579.15 billion and a P/E ratio of 12.53. The company has a 50-day moving average of $98.23 and a 200-day moving average of $99.56.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. During the same quarter in the prior year, the company earned $1.85 earnings per share. The business earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. Apple’s revenue was down 14.6% compared to the same quarter last year. On average, analysts forecast that Apple will post $8.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, August 4th. This represents a $2.28 dividend on an annualized basis and a yield of 2.12%.
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.
[Source:- BBNC]
