Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report released on Thursday. They presently have a $175.00 price objective on the iPhone maker’s stock. Needham & Company LLC’s price target indicates a potential upside of 9.61% from the company’s previous close.

Several other research analysts have also recently weighed in on AAPL. BMO Capital Markets restated an “outperform” rating and issued a $170.00 price target (up previously from $160.00) on shares of Apple in a research note on Wednesday, May 17th. Morgan Stanley restated an “overweight” rating and issued a $177.00 price target (up previously from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Vetr upgraded Apple from a “hold” rating to a “buy” rating and set a $159.81 price target for the company in a research note on Wednesday, May 17th. Wells Fargo & Company restated a “market perform” rating and issued a $140.00 price target on shares of Apple in a research note on Friday, May 19th. Finally, Royal Bank Of Canada set a $157.00 price target on Apple and gave the stock a “buy” rating in a research note on Friday, May 19th. Eleven investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $187.59.

Shares of Apple (NASDAQ AAPL) traded down 0.3898% on Thursday, reaching $159.0280. The company’s stock had a trading volume of 7,238,312 shares. The stock has a 50-day moving average of $158.37 and a 200 day moving average of $149.12. Apple has a 52-week low of $104.08 and a 52-week high of $164.94. The company has a market cap of $821.42 billion, a price-to-earnings ratio of 18.0550 and a beta of 1.27.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that Apple will post $9.01 earnings per share for the current year.

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In other news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Johny Srouji sold 5,892 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the sale, the insider now directly owns 70,358 shares of the company’s stock, valued at $11,327,638. The disclosure for this sale can be found here. Insiders sold 432,930 shares of company stock valued at $69,008,577 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Large investors have recently made changes to their positions in the company. Saratoga Research & Investment Management raised its holdings in Apple by 0.6% during the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after purchasing an additional 4,137 shares in the last quarter. Pinnacle Bank purchased a new position in Apple during the first quarter worth about $1,924,000. Green Square Capital LLC raised its holdings in Apple by 6.7% during the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after purchasing an additional 5,491 shares in the last quarter. Headinvest LLC raised its holdings in Apple by 2.5% during the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after purchasing an additional 390 shares in the last quarter. Finally, Norges Bank purchased a new position in Apple during the fourth quarter worth about $5,625,709,000. 60.45% of the stock is owned by institutional investors and hedge funds.

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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