Apple Inc. (NASDAQ:AAPL) had its price objective hoisted by equities researchers at Barclays PLC to $161.00 in a research report issued on Friday, Marketbeat.com reports. The brokerage presently has an “equal weight” rating on the iPhone maker’s stock. Barclays PLC’s price objective indicates a potential upside of 2.55% from the stock’s current price.

A number of other analysts have also recently commented on AAPL. BidaskClub cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Morgan Stanley restated an “overweight” rating and set a $177.00 price target on shares of Apple in a research note on Friday, June 16th. Cowen and Company restated an “outperform” rating and set a $160.00 price target on shares of Apple in a research note on Friday, June 16th. Maxim Group upped their price target on shares of Apple from $171.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 19th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 price target on shares of Apple in a research note on Wednesday, June 21st. Nine investment analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $189.73.

Apple (NASDAQ AAPL) opened at 156.99 on Friday. Apple has a 12-month low of $104.08 and a 12-month high of $164.94. The firm has a 50-day moving average of $157.58 and a 200 day moving average of $151.69. The company has a market capitalization of $810.89 billion, a PE ratio of 17.82 and a beta of 1.27.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 EPS. Analysts forecast that Apple will post $9.01 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/13/apple-inc-aapl-price-target-raised-to-161-00.html.

In other Apple news, CEO Timothy D. Cook sold 268,623 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $158.13, for a total value of $5,000,861.25. Following the completion of the transaction, the senior vice president now owns 112,430 shares in the company, valued at approximately $17,778,555.90. The disclosure for this sale can be found here. Insiders sold a total of 541,177 shares of company stock worth $85,864,804 in the last 90 days. 0.08% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. First National Bank of Mount Dora Trust Investment Services lifted its holdings in Apple by 8.6% in the 3rd quarter. First National Bank of Mount Dora Trust Investment Services now owns 34,987 shares of the iPhone maker’s stock valued at $5,393,000 after purchasing an additional 2,766 shares in the last quarter. Crow Point Partners LLC lifted its holdings in Apple by 100.0% in the 3rd quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock valued at $153,000 after purchasing an additional 500 shares in the last quarter. Parker Investment Management LLC lifted its holdings in Apple by 2.1% in the 3rd quarter. Parker Investment Management LLC now owns 22,714 shares of the iPhone maker’s stock valued at $3,501,000 after purchasing an additional 470 shares in the last quarter. McQueen Ball & Associates Inc. lifted its holdings in Apple by 2.6% in the 3rd quarter. McQueen Ball & Associates Inc. now owns 37,913 shares of the iPhone maker’s stock valued at $5,843,000 after purchasing an additional 962 shares in the last quarter. Finally, Curbstone Financial Management Corp lifted its holdings in Apple by 89.2% in the 3rd quarter. Curbstone Financial Management Corp now owns 47,132 shares of the iPhone maker’s stock valued at $7,264,000 after purchasing an additional 22,216 shares in the last quarter. Institutional investors own 60.36% 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)

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.