Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by stock analysts at Bank of America Corporation in a note issued to investors on Wednesday. They presently have a $180.00 price objective on the iPhone maker’s stock. Bank of America Corporation’s price target points to a potential upside of 11.93% from the stock’s current price.

A number of other research analysts have also issued reports on AAPL. Barclays PLC restated a “hold” rating and set a $146.00 price target on shares of Apple in a research note on Monday, September 4th. Piper Jaffray Companies restated an “overweight” rating and set a $190.00 price target on shares of Apple in a research note on Tuesday, September 5th. Robert W. Baird restated a “buy” rating and set a $172.00 price target on shares of Apple in a research note on Tuesday, September 5th. Royal Bank Of Canada upped their price target on shares of Apple from $176.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, September 1st. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $175.00 price target on shares of Apple in a research note on Wednesday, September 6th. Eleven analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $169.52.

Shares of Apple (NASDAQ:AAPL) traded down 1.2060% during midday trading on Wednesday, reaching $158.9201. 27,935,268 shares of the company traded hands. The company has a 50 day moving average price of $158.11 and a 200 day moving average price of $148.94. The company has a market capitalization of $820.86 billion, a PE ratio of 18.0427 and a beta of 1.27. Apple has a 1-year low of $104.08 and a 1-year high of $164.94.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during 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%. Apple’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.42 EPS. On average, analysts expect that Apple will post $9.02 earnings per share for the current year.

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In other Apple news, insider Johny Srouji sold 5,892 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were 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 owns 70,358 shares of the company’s stock, valued at $11,327,638. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The disclosure for this sale can be found here. Insiders sold 432,930 shares of company stock valued at $69,008,577 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in AAPL. Norges Bank purchased a new position in shares of Apple during the 4th quarter valued at approximately $5,625,709,000. Janus Henderson Group PLC boosted its stake in shares of Apple by 301.3% during the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after buying an additional 15,018,790 shares during the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of Apple by 14,030.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after buying an additional 4,483,360 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Apple by 15.0% during the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after buying an additional 3,845,363 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Apple by 200.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,765,574 shares of the iPhone maker’s stock valued at $686,338,000 after buying an additional 3,178,809 shares during the last quarter. Institutional investors own 60.45% of the company’s stock.

About Apple

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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