Apple Inc. (AAPL) Given New $200.00 Price Target at Loop Capital

Apple Inc. (NASDAQ:AAPL) had its target price raised by Loop Capital from $180.00 to $200.00 in a research report released on Friday. They currently have a buy rating on the iPhone maker’s stock.

A number of other brokerages have also recently weighed in on AAPL. Raymond James Financial, Inc. reiterated an outperform rating and issued a $163.00 price objective on shares of Apple in a research note on Thursday, July 6th. Drexel Hamilton reaffirmed a buy rating and set a $202.00 price objective on shares of Apple in a report on Thursday, July 6th. Credit Suisse Group reissued a buy rating and issued a $170.00 target price on shares of Apple in a report on Sunday, July 9th. Canaccord Genuity reissued a buy rating and issued a $180.00 target price on shares of Apple in a report on Monday, July 10th. Finally, Deutsche Bank AG reaffirmed a hold rating and set a $132.00 price objective (up previously from $130.00) on shares of Apple in a research note on Tuesday, July 11th. Seven analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $198.38.

Apple (NASDAQ:AAPL) traded up $4.39 during midday trading on Friday, reaching $172.50. The company’s stock had a trading volume of 58,683,826 shares, compared to its average volume of 25,147,278. The firm has a market cap of $891,001.81, a P/E ratio of 18.75, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.35 and a current ratio of 1.39. Apple has a 52 week low of $104.08 and a 52 week high of $174.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. Apple had a return on equity of 36.36% and a net margin of 21.09%. The business’s revenue for the quarter 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. sell-side analysts anticipate that Apple will post 11.11 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 27.39%.

In other Apple news, SVP Johny Srouji sold 10,469 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the transaction, the senior vice president now owns 76,250 shares in the company, valued at $12,367,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Federighi sold 63,163 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $158.07, for a total transaction of $9,984,175.41. Following the transaction, the insider now owns 359,988 shares in the company, valued at approximately $56,903,303.16. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock worth $85,864,804 in the last three months. Insiders own 0.08% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Stone House Investment Management LLC lifted its position in shares of Apple by 0.4% during the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after buying an additional 6 shares during the last quarter. FC Advisory LLC raised its position in shares of Apple by 0.4% in the 2nd quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock valued at $371,000 after purchasing an additional 10 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its position in shares of Apple by 0.3% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after purchasing an additional 17 shares during the last quarter. Lenox Wealth Advisors Inc. raised its position in Apple by 0.4% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after buying an additional 20 shares during the last quarter. Finally, BerganKDV Wealth Management LLC raised its position in Apple by 0.4% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 5,614 shares of the iPhone maker’s stock worth $809,000 after buying an additional 20 shares during the last quarter. Institutional investors own 60.33% 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.

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