Apple Inc. (AAPL) Given a $193.00 Price Target by HSBC Holdings plc Analysts

Apple Inc. (NASDAQ:AAPL) received a $193.00 price objective from research analysts at HSBC Holdings plc in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the iPhone maker’s stock. HSBC Holdings plc’s price objective would suggest a potential upside of 14.17% from the stock’s current price.

Several other equities analysts have also issued reports on AAPL. Zacks Investment Research upgraded Apple from a “hold” rating to a “buy” rating and set a $187.00 target price on the stock in a research note on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $160.08 target price (down previously from $176.00) on shares of Apple in a research note on Wednesday, August 9th. Drexel Hamilton reiterated a “buy” rating and issued a $208.00 target price on shares of Apple in a research note on Tuesday, October 24th. Longbow Research reiterated a “buy” rating and issued a $173.00 target price on shares of Apple in a research note on Friday, August 11th. Finally, Instinet reiterated a “buy” rating and issued a $175.00 target price (up previously from $165.00) on shares of Apple in a research note on Wednesday, August 2nd. Eight investment analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company’s stock. Apple presently has an average rating of “Buy” and an average target price of $193.36.

Shares of Apple (NASDAQ:AAPL) traded down 1.3678% during mid-day trading on Wednesday, reaching $166.7278. 26,854,148 shares of the company traded hands. The firm has a 50 day moving average of $157.08 and a 200-day moving average of $153.07. The stock has a market capitalization of $861.19 billion, a PE ratio of 18.9291 and a beta of 1.27. Apple has a 52 week low of $104.08 and a 52 week high of $169.94.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that Apple will post $9.00 EPS for the current fiscal year.

WARNING: This report was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another website, it was stolen and republished in violation of United States & international trademark and copyright legislation. The legal version of this report can be viewed at https://sportsperspectives.com/2017/11/01/apple-inc-aapl-given-a-193-00-price-target-by-hsbc-holdings-plc-analysts.html.

In related news, insider Philip W. Schiller sold 56,808 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total value of $8,788,197.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 541,177 shares of company stock worth $85,864,804. 0.08% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in AAPL. Blue Sky Asset Management LLC acquired a new position in shares of Apple in the second quarter worth about $108,000. Hefty Wealth Partners lifted its stake in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 174 shares in the last quarter. FNY Managed Accounts LLC lifted its stake in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 716 shares in the last quarter. American Beacon Advisors Inc. acquired a new position in shares of Apple in the first quarter worth about $117,000. Finally, Private Vista LLC acquired a new position in shares of Apple in the second quarter worth about $122,000. Institutional investors and hedge funds own 60.33% 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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply