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.
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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.
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