Apple (AAPL) Given a $174.00 Price Target at HSBC

Apple (NASDAQ:AAPL) has been given a $174.00 price target by stock analysts at HSBC in a report issued on Monday, Borsen Zeitung reports. The firm currently has a “sell” rating on the iPhone maker’s stock. HSBC’s price target would indicate a potential downside of 7.94% from the stock’s previous close.

AAPL has been the topic of several other research reports. BidaskClub upgraded shares of Apple from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. JPMorgan Chase & Co. restated a “buy” rating and set a $230.00 price target on shares of Apple in a research report on Monday, April 29th. Rosenblatt Securities dropped their price target on shares of Apple from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 30th. Canaccord Genuity raised their price target on shares of Apple from $185.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Finally, New Street Research lowered shares of Apple from a “neutral” rating to a “sell” rating and set a $170.00 price target on the stock. in a research report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $211.40.

AAPL stock opened at $189.00 on Monday. The firm has a market cap of $928.96 billion, a P/E ratio of 15.87, a PEG ratio of 1.60 and a beta of 1.14. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. Apple has a one year low of $142.00 and a one year high of $233.47.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.09. The company had revenue of $58.02 billion for the quarter, compared to analyst estimates of $57.40 billion. Apple had a net margin of 22.12% and a return on equity of 51.29%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business earned $2.73 earnings per share. Research analysts predict that Apple will post 11.48 earnings per share for the current year.

Apple declared that its board has authorized a stock buyback program on Tuesday, April 30th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $210.86, for a total value of $7,380,100.00. Following the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at $246,344,153.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Luca Maestri sold 51,138 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the completion of the transaction, the insider now directly owns 27,448 shares in the company, valued at $5,396,551.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,549 shares of company stock worth $29,300,960. Insiders own 0.05% of the company’s stock.

Several large investors have recently bought and sold shares of AAPL. Kiley Juergens Wealth Management LLC raised its stake in Apple by 1.1% during the fourth quarter. Kiley Juergens Wealth Management LLC now owns 44,530 shares of the iPhone maker’s stock worth $7,024,000 after purchasing an additional 494 shares during the period. Rothschild & Co. Asset Management US Inc. raised its stake in shares of Apple by 9.0% in the 3rd quarter. Rothschild & Co. Asset Management US Inc. now owns 304,348 shares of the iPhone maker’s stock valued at $68,704,000 after acquiring an additional 25,092 shares during the period. Newman Dignan & Sheerar Inc. raised its stake in shares of Apple by 5.2% in the 3rd quarter. Newman Dignan & Sheerar Inc. now owns 23,123 shares of the iPhone maker’s stock valued at $5,186,000 after acquiring an additional 1,142 shares during the period. CKW Financial Group raised its stake in shares of Apple by 15.0% in the 4th quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after acquiring an additional 105 shares during the period. Finally, Dundas Partners LLP raised its stake in shares of Apple by 28.0% in the 3rd quarter. Dundas Partners LLP now owns 43,775 shares of the iPhone maker’s stock valued at $12,083,000 after acquiring an additional 9,585 shares during the period. 57.36% of the stock is currently owned by hedge funds and other institutional investors.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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