Apple (NASDAQ:AAPL) had its price objective trimmed by Raymond James from $675.00 to $650.00 in a report released on Wednesday, Analyst Ratings News reports. Raymond James currently has a strong-buy rating on the stock.
In other Apple news, SVP Daniel J. Riccio unloaded 1,997 shares of the company’s stock on the open market in a transaction dated Thursday, October 31st. The shares were sold at an average price of $524.86, for a total transaction of $1,048,145.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Apple (NASDAQ:AAPL) traded down 0.51% during mid-day trading on Wednesday, hitting $520.03. 9,817,472 shares of the company’s stock traded hands. Apple has a 52-week low of $385.10 and a 52-week high of $596.95. The stock has a 50-day moving average of $494. and a 200-day moving average of $458.5. The company has a market cap of $467.6 billion and a price-to-earnings ratio of 13.15. Apple also was the recipient of unusually large options trading activity on Tuesday. Investors purchased 498,475 call options on the company. This represents an increase of 137% compared to the typical daily volume of 210,668 call options.
Apple (NASDAQ:AAPL) last released its earnings data on Monday, October 28th. The company reported $8.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $7.86 by $0.40. The company had revenue of $37.50 billion for the quarter, compared to the consensus estimate of $36.84 billion. During the same quarter last year, the company posted $8.67 earnings per share. Apple’s revenue was up 4.2% compared to the same quarter last year. Analysts expect that Apple will post $43.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a dividend of $3.05 per share. This represents a $12.20 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Wednesday, November 6th.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a neutral rating on shares of Apple in a research note to investors on Wednesday. They now have a $543.00 price target on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Apple from $540.00 to $600.00 in a research note to investors on Tuesday. Finally, analysts at Scotiabank raised their price target on shares of Apple from $500.00 to $565.00 in a research note to investors on Tuesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirty-nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. Apple has a consensus rating of Buy and an average target price of $581.15.
Apple Inc (NASDAQ:AAPL) 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.
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