Apple Inc. (NASDAQ:AAPL) Receives $140.24 Consensus Target Price from Brokerages

Apple Inc. (NASDAQ:AAPL) has been assigned a consensus recommendation of “Buy” from the fifty-two analysts that are presently covering the firm, AnalystRatings.NET reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $138.37.

A number of research analysts have weighed in on the stock. Vetr cut shares of Apple from a “strong-buy” rating to a “buy” rating and set a $129.71 price target on the stock. in a research report on Thursday, October 29th. Susquehanna reaffirmed a “buy” rating and set a $155.00 price target on shares of Apple in a research report on Wednesday, October 28th. Oppenheimer reaffirmed an “outperform” rating and set a $155.00 price target on shares of Apple in a research report on Thursday, October 29th. Deutsche Bank reaffirmed a “hold” rating and set a $125.00 price target on shares of Apple in a research report on Wednesday, October 28th. Finally, Bank of America reaffirmed a “hold” rating and set a $130.00 price target on shares of Apple in a research report on Wednesday, October 28th.

In other Apple news, CEO Timothy D. Cook sold 90,593 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $120.48, for a total value of $10,914,644.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 7,782 shares of the company’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $110.14, for a total value of $857,109.48. Following the completion of the transaction, the chief financial officer now directly owns 210 shares of the company’s stock, valued at approximately $23,129.40. The disclosure for this sale can be found here.

A number of institutional investors have recently modified their holdings of AAPL. Lowe FS boosted its position in shares of Apple by 0.6% in the third quarter. Lowe FS now owns 2,371 shares of the iPhone maker’s stock worth $261,000 after buying an additional 13 shares during the last quarter. Harvest Management boosted its position in shares of Apple by 20.0% in the third quarter. Harvest Management now owns 4,200 shares of the iPhone maker’s stock worth $463,000 after buying an additional 700 shares during the last quarter. Ken Stern & Associates boosted its position in shares of Apple by 9.3% in the third quarter. Ken Stern & Associates now owns 9,621 shares of the iPhone maker’s stock worth $1,061,000 after buying an additional 819 shares during the last quarter. KSA Capital Management purchased a new position in shares of Apple during the third quarter worth about $1,213,000. Finally, Modera Wealth Management boosted its position in shares of Apple by 4.5% in the third quarter. Modera Wealth Management now owns 12,287 shares of the iPhone maker’s stock worth $1,355,000 after buying an additional 530 shares during the last quarter.

Apple (NASDAQ:AAPL) traded down 2.19% during midday trading on Monday, hitting $102.96. 13,471,753 shares of the stock were exchanged. The stock has a market cap of $574.04 billion and a price-to-earnings ratio of 11.17. The firm has a 50 day moving average of $113.53 and a 200-day moving average of $116.76. Apple has a 12-month low of $92.00 and a 12-month high of $134.54.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, October 27th. The iPhone maker reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.08. The firm had revenue of $51.50 billion for the quarter, compared to analyst estimates of $51.02 billion. Apple’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.42 earnings per share. On average, equities analysts expect that Apple will post $9.74 earnings per share for the current year.

12 Month Chart for NASDAQ:AAPL

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. 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. The Company also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store. The Company distributes its products worldwide through its retail stores, online stores, and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers, and value-added resellers. In February 2012, the Company acquired app-search engine Chomp.

 

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