Apple (AAPL) PT Set at $175.00 by Nomura

Apple (NASDAQ:AAPL) has been given a $175.00 price target by investment analysts at Nomura in a report released on Tuesday. The brokerage currently has a “neutral” rating on the iPhone maker’s stock. Nomura’s price objective would suggest a potential upside of 0.37% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Robert W. Baird reiterated a “buy” rating and set a $172.00 target price on shares of Apple in a research report on Tuesday, September 5th. Drexel Hamilton reiterated a “buy” rating and set a $208.00 target price on shares of Apple in a research report on Thursday, August 24th. Canaccord Genuity reiterated a “buy” rating and set a $180.00 target price on shares of Apple in a research report on Tuesday, August 22nd. UBS reiterated a “buy” rating and set a $180.00 target price on shares of Apple in a research report on Tuesday, August 29th. Finally, Cleveland Research upgraded shares of Apple from a “neutral” rating to a “buy” rating and set a $197.00 target price on the stock in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $197.22.

Apple (AAPL) opened at $174.35 on Tuesday. The company has a market cap of $896,142.81, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. Apple has a 12-month low of $114.76 and a 12-month high of $177.20. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.50 earnings per share. equities research analysts predict that Apple will post 11.18 EPS for the current year.

In other Apple news, insider Philip W. Schiller sold 56,808 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total value of $8,788,197.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Insiders sold 232,967 shares of company stock valued at $37,944,683 in the last ninety days. Insiders own 0.08% of the company’s stock.

Hedge funds have recently modified their holdings of the company. LaFleur & Godfrey LLC acquired a new position in Apple during the first quarter worth $28,234,000. Verity & Verity LLC boosted its holdings in Apple by 4.3% during the first quarter. Verity & Verity LLC now owns 59,562 shares of the iPhone maker’s stock worth $8,557,000 after purchasing an additional 2,471 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Apple by 23.2% during the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock worth $1,334,527,000 after purchasing an additional 1,749,797 shares during the last quarter. Orca Investment Management LLC boosted its holdings in Apple by 78.2% during the first quarter. Orca Investment Management LLC now owns 25,033 shares of the iPhone maker’s stock worth $3,596,000 after purchasing an additional 10,986 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in Apple by 2.8% during the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 75,432 shares of the iPhone maker’s stock worth $10,837,000 after purchasing an additional 2,065 shares during the last quarter. 59.62% of the stock is owned by institutional investors.

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About Apple

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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