Rosenblatt Securities Analysts Give Apple Inc. (AAPL) a $150.00 Price Target

Rosenblatt Securities set a $150.00 price target on Apple Inc. (NASDAQ:AAPL) in a report issued on Sunday. The firm currently has a hold rating on the iPhone maker’s stock.

AAPL has been the topic of several other research reports. UBS AG reissued a buy rating and issued a $170.00 target price on shares of Apple in a report on Monday, July 31st. Wells Fargo & Company reissued a market perform rating and issued a $140.00 target price on shares of Apple in a report on Saturday, July 22nd. KeyCorp reissued an equal weight rating on shares of Apple in a report on Friday, August 4th. Goldman Sachs Group, Inc. (The) set a $170.00 target price on shares of Apple and gave the stock a buy rating in a report on Saturday, May 20th. Finally, Morgan Stanley reissued an overweight rating and issued a $177.00 target price 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 assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $169.30.

Shares of Apple (AAPL) opened at 160.86 on Friday. Apple has a 52 week low of $104.08 and a 52 week high of $164.94. The company’s 50 day moving average is $158.11 and its 200-day moving average is $148.94. The stock has a market capitalization of $830.88 billion, a PE ratio of 18.26 and a beta of 1.27.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts predict that Apple will post $9.02 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, August 10th. Apple’s payout ratio is 28.64%.

In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction on Thursday, July 6th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. Also, SVP D Bruce Sewell sold 31,625 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $158.13, for a total value of $5,000,861.25. Following the completion of the transaction, the senior vice president now owns 112,430 shares of the company’s stock, valued at approximately $17,778,555.90. The disclosure for this sale can be found here. Insiders sold 432,930 shares of company stock valued at $69,008,577 in the last quarter. 0.08% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Stone House Investment Management LLC raised its position in Apple by 0.4% in the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after acquiring an additional 6 shares in the last quarter. FC Advisory LLC raised its position in Apple by 0.4% in the second quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock worth $371,000 after acquiring an additional 10 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its position in Apple by 0.3% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock worth $782,000 after acquiring an additional 17 shares in the last quarter. Stonehearth Capital Management LLC raised its position in Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after acquiring an additional 20 shares in the last quarter. Finally, Lenox Wealth Advisors Inc. raised its position in Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 60.45% of the company’s stock.

Apple Company Profile

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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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