Apple Inc. (NASDAQ:AAPL) has been assigned a $175.00 target price by Sanford C. Bernstein in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the iPhone maker’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 8.82% from the stock’s current price.
AAPL has been the subject of several other reports. UBS AG reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Monday, July 31st. Wells Fargo & Company reiterated a “market perform” rating and set a $140.00 price target on shares of Apple in a report on Saturday, July 22nd. KeyCorp reiterated an “equal weight” rating on shares of Apple in a report on Friday, August 4th. Goldman Sachs Group, Inc. (The) set a $170.00 price target on shares of Apple and gave the stock a “buy” rating in a report on Saturday, May 20th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $177.00 price target on shares of Apple in a report on Friday, June 16th. Eleven analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $169.52.
Apple (AAPL) traded down 1.47% during midday trading on Wednesday, reaching $158.49. The company’s stock had a trading volume of 20,889,138 shares. The firm has a market capitalization of $818.64 billion, a PE ratio of 17.99 and a beta of 1.27. Apple has a 52 week low of $104.08 and a 52 week high of $164.94. The stock has a 50 day moving average of $158.11 and a 200 day moving average of $148.94.
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Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 earnings per share. On average, equities research analysts predict that Apple will post $9.02 earnings per share for the current fiscal year.
In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Johny Srouji sold 5,892 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the transaction, the insider now directly owns 70,358 shares in the company, valued at approximately $11,327,638. The disclosure for this sale can be found here. In the last three months, insiders have sold 432,930 shares of company stock worth $69,008,577. Corporate insiders own 0.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pinnacle Family Advisors LLC lifted its position in Apple by 17.8% in the second quarter. Pinnacle Family Advisors LLC now owns 13,454 shares of the iPhone maker’s stock valued at $1,938,000 after buying an additional 2,035 shares during the last quarter. Intl Fcstone Inc. lifted its position in Apple by 171.1% in the second quarter. Intl Fcstone Inc. now owns 31,725 shares of the iPhone maker’s stock valued at $4,569,000 after buying an additional 20,022 shares during the last quarter. Griffin Asset Management Inc. acquired a new position in Apple in the second quarter valued at about $7,126,000. Gs Investments Inc. acquired a new position in Apple in the second quarter valued at about $4,180,000. Finally, Aldebaran Financial Inc. lifted its position in Apple by 5.1% in the second quarter. Aldebaran Financial Inc. now owns 25,732 shares of the iPhone maker’s stock valued at $3,706,000 after buying an additional 1,255 shares during the last quarter. 60.45% of the stock is currently owned by institutional investors.
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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