Apple Inc. (NASDAQ:AAPL) has been assigned a consensus recommendation of “Buy” from the fifty-five brokerages that are currently covering the stock, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold recommendation and forty-three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $170.78.

A number of brokerages recently weighed in on AAPL. Keefe, Bruyette & Woods set a $170.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 target price on shares of Apple in a report on Wednesday, June 21st. Nomura restated a “buy” rating and set a $165.00 target price on shares of Apple in a report on Wednesday, July 5th. Morgan Stanley restated an “overweight” rating and set a $177.00 target price (up from $161.00) on shares of Apple in a report on Wednesday, May 17th. Finally, Maxim Group boosted their target price on shares of Apple from $171.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, June 19th.

Apple (NASDAQ:AAPL) opened at 158.63 on Friday. The company has a 50-day moving average of $157.79 and a 200-day moving average of $148.59. The firm has a market capitalization of $819.36 billion, a price-to-earnings ratio of 18.01 and a beta of 1.27. Apple has a 1-year low of $102.53 and a 1-year high of $164.94.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 earnings per share. On average, equities analysts predict that Apple will post $9.02 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a $0.63 dividend. The ex-dividend date was Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.59%. Apple’s payout ratio is 28.64%.

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In other news, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Johny Srouji sold 5,892 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the completion of the sale, the insider now directly owns 70,358 shares in the company, valued at $11,327,638. The disclosure for this sale can be found here. Over the last three months, insiders sold 432,930 shares of company stock worth $69,008,577. Insiders own 0.08% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Berkshire Hathaway Inc. grew its stake in shares of Apple by 0.6% in the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock worth $18,750,246,000 after acquiring an additional 834,854 shares during the last quarter. Norges Bank purchased a new stake in shares of Apple in the fourth quarter worth $5,625,709,000. Capital Research Global Investors grew its stake in shares of Apple by 15.0% in the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after acquiring an additional 3,845,363 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Apple by 3.0% in the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock worth $3,759,849,000 after acquiring an additional 771,046 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Apple by 301.3% in the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after acquiring an additional 15,018,790 shares during the last quarter. 60.44% 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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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