Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by research analysts at Goldman Sachs Group Inc in a research report issued to clients and investors on Wednesday. They presently have a $170.00 target price on the iPhone maker’s stock. Goldman Sachs Group Inc’s price objective indicates a potential upside of 17.23% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Argus reissued an “outperform” rating and set a $160.00 price target on shares of Apple in a research report on Monday, May 15th. Hilliard Lyons increased their price target on Apple from $147.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Canaccord Genuity reissued a “buy” rating and set a $180.00 price target (up previously from $165.00) on shares of Apple in a research report on Tuesday, May 16th. BMO Capital Markets reissued an “outperform” rating and set a $170.00 price target (up previously from $160.00) on shares of Apple in a research report on Wednesday, May 17th. Finally, Morgan Stanley reissued an “overweight” rating and set a $177.00 price target (up previously from $161.00) on shares of Apple in a research report on Wednesday, May 17th. Ten investment analysts have rated the stock with a hold rating, forty have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $160.83.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Apple (NASDAQ AAPL) traded up 0.09% during trading on Wednesday, hitting $145.14. The company had a trading volume of 4,237,019 shares. The stock has a 50-day moving average of $151.25 and a 200 day moving average of $136.05. The company has a market capitalization of $756.74 billion, a price-to-earnings ratio of 17.03 and a beta of 1.28. Apple has a one year low of $91.50 and a one year high of $156.65.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating the consensus estimate of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The company had revenue of $52.90 billion for the quarter, compared to the consensus estimate of $52.61 billion. Equities analysts forecast that Apple will post $8.94 EPS for the current fiscal year.

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In related news, insider Luca Maestri sold 20,307 shares of the firm’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $145.05, for a total value of $2,945,530.35. Following the sale, the insider now owns 14,390 shares in the company, valued at $2,087,269.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip W. Schiller sold 47,796 shares of the firm’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $143.32, for a total transaction of $6,850,122.72. Following the completion of the sale, the insider now owns 94,010 shares in the company, valued at approximately $13,473,513.20. The disclosure for this sale can be found here. Insiders sold 447,411 shares of company stock worth $67,200,745 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. JJJ Advisors Inc. boosted its stake in shares of Apple by 0.9% in the first quarter. JJJ Advisors Inc. now owns 1,533 shares of the iPhone maker’s stock valued at $220,000 after buying an additional 14 shares in the last quarter. Shoker Investment Counsel Inc. boosted its stake in shares of Apple by 0.3% in the first quarter. Shoker Investment Counsel Inc. now owns 5,196 shares of the iPhone maker’s stock valued at $746,000 after buying an additional 17 shares in the last quarter. Stonehearth Capital Management LLC boosted its stake in shares of Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock valued at $342,000 after buying an additional 20 shares in the last quarter. Noven Financial Group Inc. boosted its stake in shares of Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock valued at $857,000 after buying an additional 22 shares in the last quarter. Finally, Asset Planning Services Ltd. boosted its stake in shares of Apple by 0.3% in the fourth quarter. Asset Planning Services Ltd. now owns 7,859 shares of the iPhone maker’s stock valued at $910,000 after buying an additional 24 shares in the last quarter. Institutional investors own 61.26% 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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