Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity in a note issued to investors on Tuesday. They presently have a $180.00 target price on the iPhone maker’s stock. Canaccord Genuity’s target price indicates a potential upside of 12.65% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods set a $170.00 price target on Apple and gave the company a “buy” rating in a report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $170.00 price target on shares of Apple in a report on Wednesday, June 21st. Nomura reaffirmed a “buy” rating and set a $165.00 price target on shares of Apple in a report on Wednesday, July 5th. Barclays PLC set a $123.00 price target on Apple and gave the company a “neutral” rating in a report on Wednesday, May 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $177.00 price target (up previously from $161.00) on shares of Apple in a report on Wednesday, May 17th. Eleven equities research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $167.73.

Shares of Apple (NASDAQ:AAPL) traded up 1.63% during trading on Tuesday, reaching $159.78. The company had a trading volume of 21,604,585 shares. Apple has a 52-week low of $102.53 and a 52-week high of $162.51. The stock has a market capitalization of $825.30 billion, a price-to-earnings ratio of 18.14 and a beta of 1.31. The stock has a 50 day moving average of $152.37 and a 200 day moving average of $146.13.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same quarter last year, the company posted $1.42 earnings per share. Apple’s revenue was up 7.2% on a year-over-year basis. Equities research analysts forecast that Apple will post $9.02 EPS for the current year.

Apple declared that its board has approved a share repurchase program on Tuesday, May 2nd that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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In related news, insider Chris Kondo sold 6,209 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $161.96, for a total transaction of $1,005,609.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Johny Srouji sold 10,469 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was 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 directly owns 76,250 shares in the company, valued at $12,367,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 249,640 shares of company stock worth $38,953,894. 0.08% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in AAPL. Blue Sky Asset Management LLC acquired a new position in Apple during the second quarter worth approximately $108,000. Hefty Wealth Partners raised its position 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 buying an additional 174 shares in the last quarter. FNY Managed Accounts LLC raised its position 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 buying an additional 716 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in Apple during the first quarter valued at approximately $117,000. Finally, Private Vista LLC purchased a new position in Apple during the second quarter valued at approximately $122,000. 61.50% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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