Apple Inc. (AAPL) Given a $193.00 Price Target at HSBC Holdings plc

HSBC Holdings plc set a $193.00 price objective on Apple Inc. (NASDAQ:AAPL) in a research report released on Wednesday morning. The brokerage currently has a buy rating on the iPhone maker’s stock.

Other analysts have also issued reports about the company. BMO Capital Markets reaffirmed an outperform rating and issued a $170.00 price target on shares of Apple in a research note on Tuesday, July 25th. Nomura reaffirmed a buy rating and issued a $165.00 price target on shares of Apple in a research note on Wednesday, July 5th. Barclays PLC reaffirmed a hold rating and issued a $146.00 price target on shares of Apple in a research note on Tuesday, August 15th. Vetr raised Apple from a hold rating to a buy rating and set a $166.96 price target on the stock in a research note on Thursday, August 17th. Finally, J P Morgan Chase & Co set a $165.00 price target on Apple and gave the stock a buy rating in a research note on Wednesday, July 19th. Eight equities research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company’s stock. Apple currently has an average rating of Buy and an average target price of $193.36.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 earnings per share.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.49%. Apple’s dividend payout ratio is presently 28.64%.

In other news, insider Angela J. Ahrendts sold 63,388 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP D Bruce Sewell sold 31,625 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the completion of the sale, the senior vice president now directly owns 112,430 shares in the company, valued at $17,778,555.90. The disclosure for this sale can be found here. Insiders have sold 541,177 shares of company stock valued at $85,864,804 in the last quarter. Company insiders own 0.08% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Blue Sky Asset Management LLC purchased a new stake in Apple in the second quarter valued at approximately $108,000. Hefty Wealth Partners raised its stake in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares in the last quarter. FNY Managed Accounts LLC raised its stake in Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares in the last quarter. American Beacon Advisors Inc. purchased a new stake in Apple in the first quarter valued at approximately $117,000. Finally, Private Vista LLC purchased a new stake in Apple in the second quarter valued at approximately $122,000. 60.33% of the stock is currently owned by hedge funds and other institutional investors.

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.

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