The Apple Inc. (AAPL) Price Target Raised to $130.00 at Mizuho

The Apple Inc. (AAPL) Price Target Raised to $130.00 at Mizuho

Apple Inc. (NASDAQ:AAPL) had its target price lifted by Mizuho from $120.00 to $130.00 in a report issued on Wednesday. They currently have a buy rating on the iPhone maker’s stock.

AAPL has been the subject of several other research reports. Drexel Hamilton reissued a buy rating and issued a $185.00 price objective on shares of Apple in a research report on Wednesday, September 14th. Piper Jaffray Cos. raised shares of Apple to an overweight rating and set a $151.00 price objective for the company in a research report on Friday, September 16th. Canaccord Genuity reissued a buy rating and issued a $140.00 price objective (up previously from $120.00) on shares of Apple in a research report on Monday, September 12th. Nomura increased their price objective on shares of Apple from $120.00 to $135.00 and gave the stock a buy rating in a research report on Thursday, September 22nd. Finally, Wells Fargo & Co. reaffirmed a market perform rating on shares of Apple in a report on Friday, September 9th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, forty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. Apple has a consensus rating of Buy and a consensus target price of $126.34.

Shares of Apple (NASDAQ:AAPL) opened at 117.34 on Wednesday. The company has a 50-day moving average of $111.02 and a 200-day moving average of $103.46. Apple has a 12 month low of $89.47 and a 12 month high of $123.82. The stock has a market capitalization of $632.28 billion, a PE ratio of 13.68 and a beta of 1.22.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The company had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. During the same quarter last year, the firm posted $1.85 earnings per share. Apple’s revenue was down 14.6% on a year-over-year basis. On average, equities research analysts expect that Apple will post $8.26 EPS for the current fiscal year.

In other Apple news, COO Jeffrey E. Williams sold 43,769 shares of Apple stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $112.59, for a total value of $4,927,951.71. Following the completion of the sale, the chief operating officer now directly owns 90,657 shares in the company, valued at $10,207,071.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the sale, the senior vice president now owns 105,839 shares of the company’s stock, valued at $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of AAPL. Orrstown Financial Services Inc. increased its stake in shares of Apple by 2.3% in the third quarter. Orrstown Financial Services Inc. now owns 17,726 shares of the iPhone maker’s stock worth $2,004,000 after buying an additional 394 shares during the last quarter. One Capital Management LLC increased its stake in shares of Apple by 4.4% in the third quarter. One Capital Management LLC now owns 37,597 shares of the iPhone maker’s stock worth $4,250,000 after buying an additional 1,596 shares during the last quarter. Patten & Patten Inc. TN increased its stake in shares of Apple by 0.9% in the third quarter. Patten & Patten Inc. TN now owns 346,440 shares of the iPhone maker’s stock worth $39,165,000 after buying an additional 3,028 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Apple by 14.6% in the third quarter. Capstone Asset Management Co. now owns 630,458 shares of the iPhone maker’s stock worth $71,273,000 after buying an additional 80,109 shares during the last quarter. Finally, Atria Investments LLC increased its stake in shares of Apple by 17.4% in the third quarter. Atria Investments LLC now owns 85,036 shares of the iPhone maker’s stock worth $9,613,000 after buying an additional 12,603 shares during the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

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