Apple Inc. (NASDAQ:AAPL) had its price objective hoisted by Guggenheim from $180.00 to $190.00 in a research report report published on Wednesday, Marketbeat reports. They currently have a buy rating on the iPhone maker’s stock.
A number of other brokerages have also issued reports on AAPL. Argus reissued an outperform rating and issued a $160.00 price target on shares of Apple in a report on Monday, May 15th. Hilliard Lyons raised their price target on shares of Apple from $147.00 to $170.00 and gave the stock a buy rating in a report on Monday, May 15th. Canaccord Genuity reissued a buy rating and issued a $180.00 price target (up previously from $165.00) on shares of Apple in a report on Tuesday, May 16th. BMO Capital Markets reissued an outperform rating and issued a $170.00 price target (up previously from $160.00) on shares of Apple in a report on Wednesday, May 17th. Finally, Morgan Stanley reissued an overweight rating and issued a $177.00 price target (up previously from $161.00) on shares of Apple in a report on Wednesday, May 17th. Twelve analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. Apple currently has an average rating of Buy and a consensus price target of $167.57.
Apple (NASDAQ:AAPL) traded up 0.53% during trading on Wednesday, reaching $156.39. 20,559,852 shares of the company traded hands. The firm’s 50 day moving average price is $147.04 and its 200 day moving average price is $142.60. The firm has a market capitalization of $808.50 billion, a price-to-earnings ratio of 17.76 and a beta of 1.31. Apple has a 12-month low of $102.53 and a 12-month high of $157.40.
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 analysts’ consensus estimates of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 EPS. Equities research analysts expect that Apple will post $9.00 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This story was originally published by Markets Daily and is owned by of Markets Daily. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.themarketsdaily.com/2017/08/06/apple-inc-nasdaqaapl-price-target-raised-to-190-00.html.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 14th will be issued a $0.63 dividend. The ex-dividend date is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a yield of 1.61%. Apple’s payout ratio is currently 28.64%.
Apple declared that its Board of Directors has authorized a share repurchase plan on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $153.88, for a total value of $5,385,800.00. Following the transaction, the director now owns 1,168,283 shares in the company, valued at approximately $179,775,388.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Johny Srouji sold 10,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $153.20, for a total value of $1,532,000.00. Following the completion of the transaction, the senior vice president now owns 96,738 shares in the company, valued at approximately $14,820,261.60. The disclosure for this sale can be found here. Insiders sold a total of 305,500 shares of company stock worth $46,455,746 in the last 90 days. 0.08% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in AAPL. Norges Bank bought a new position in Apple during the fourth quarter valued at approximately $5,625,709,000. Asset Management One Co. Ltd. raised its position in Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock valued at $1,096,072,000 after buying an additional 8,571,027 shares in the last quarter. Harbour Capital Advisors LLC raised its position in Apple by 14,030.2% in the second quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after buying an additional 4,483,360 shares in the last quarter. Glenview Capital Management LLC bought a new position in Apple during the fourth quarter valued at approximately $365,191,000. Finally, Canada Pension Plan Investment Board raised its position in Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock valued at $1,334,527,000 after buying an additional 1,749,797 shares in the last quarter. Institutional investors own 61.17% of the company’s stock.
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.
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.