Nomura Reiterates $175.00 Price Target for Apple (AAPL)

Nomura set a $175.00 price objective on Apple (NASDAQ:AAPL) in a research note issued to investors on Tuesday morning. The brokerage currently has a neutral rating on the iPhone maker’s stock.

AAPL has been the subject of several other reports. Macquarie set a $188.00 price target on shares of Apple and gave the stock a buy rating in a report on Friday, January 26th. ValuEngine raised shares of Apple from a hold rating to a buy rating in a report on Sunday, December 31st. Barclays cut their price target on shares of Apple from $170.00 to $168.00 and set an equal weight rating for the company in a report on Friday, March 16th. Zacks Investment Research raised shares of Apple from a hold rating to a buy rating and set a $197.00 price target for the company in a report on Thursday, January 18th. Finally, Piper Jaffray reissued a buy rating and set a $200.00 price target on shares of Apple in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $202.52.

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Shares of NASDAQ:AAPL opened at $168.38 on Tuesday. Apple has a one year low of $140.06 and a one year high of $183.50. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20. The stock has a market capitalization of $870,751.38, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.30 and a beta of 1.25.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.82 by $0.07. The firm had revenue of $88.29 billion during the quarter, compared to analysts’ expectations of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.36 earnings per share. sell-side analysts predict that Apple will post 11.37 EPS for the current year.

In other Apple news, insider Philip W. Schiller sold 69,491 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $166.42, for a total transaction of $11,564,692.22. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Daniel J. Riccio sold 17,375 shares of the stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $169.12, for a total transaction of $2,938,460.00. Following the transaction, the senior vice president now directly owns 66,191 shares in the company, valued at approximately $11,194,221.92. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Jarislowsky Fraser Ltd raised its stake in shares of Apple by 22.4% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 22,515 shares of the iPhone maker’s stock valued at $3,470,000 after acquiring an additional 4,118 shares during the period. Empirical Financial Services LLC increased its stake in Apple by 23.9% during the 2nd quarter. Empirical Financial Services LLC now owns 21,558 shares of the iPhone maker’s stock worth $3,105,000 after buying an additional 4,154 shares during the period. Ramsay Stattman Vela & Price Inc. increased its stake in Apple by 3.3% during the 3rd quarter. Ramsay Stattman Vela & Price Inc. now owns 52,013 shares of the iPhone maker’s stock worth $8,016,000 after buying an additional 1,668 shares during the period. Amalgamated Bank increased its stake in Apple by 50.3% during the 2nd quarter. Amalgamated Bank now owns 615,763 shares of the iPhone maker’s stock worth $88,682,000 after buying an additional 206,045 shares during the period. Finally, Mizuho Securities USA LLC purchased a new stake in Apple during the 3rd quarter worth $2,359,000. 61.35% of the stock is currently owned by institutional investors.

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About Apple

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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