Apple Inc. (NASDAQ:AAPL) has been assigned a $160.00 price target by analysts at Macquarie in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the iPhone maker’s stock. Macquarie’s price objective indicates a potential upside of 12.33% from the company’s previous close.

Several other research firms have also issued reports on AAPL. Barclays PLC lowered Apple from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $119.00 to $117.00 in a report on Tuesday, January 24th. Bank of America Corp boosted their price target on Apple from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, January 19th. Brean Capital reissued a “buy” rating on shares of Apple in a report on Friday, January 6th. Vetr raised Apple from a “hold” rating to a “buy” rating and set a $146.43 price target for the company in a report on Monday, March 27th. Finally, Instinet reissued a “buy” rating and set a $135.00 price target on shares of Apple in a report on Monday, March 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $147.25.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Shares of Apple (NASDAQ:AAPL) opened at 142.44 on Wednesday. Apple has a one year low of $89.47 and a one year high of $145.46. The company’s 50-day moving average price is $141.36 and its 200 day moving average price is $124.37. The company has a market cap of $747.32 billion, a P/E ratio of 17.10 and a beta of 1.26.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, January 31st. The iPhone maker reported $3.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.14. Apple had a return on equity of 34.94% and a net margin of 20.73%. The company earned $78.35 billion during the quarter, compared to analyst estimates of $77.37 billion. During the same quarter in the previous year, the company posted $3.28 earnings per share. Apple’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Apple will post $8.95 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This story was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another domain, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/04/21/apple-inc-aapl-pt-set-at-160-00-by-macquarie.html.

In other Apple news, CEO Timothy D. Cook sold 30,000 shares of the business’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $120.14, for a total value of $3,604,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $143.98, for a total transaction of $1,720,417.02. Following the completion of the transaction, the insider now owns 35,847 shares of the company’s stock, valued at approximately $5,161,251.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 436,644 shares of company stock valued at $57,294,327. Insiders own 0.08% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. TRUE Private Wealth Advisors increased its position in Apple by 2.1% in the first quarter. TRUE Private Wealth Advisors now owns 25,993 shares of the iPhone maker’s stock valued at $3,725,000 after buying an additional 537 shares during the period. Hexavest Inc. increased its position in Apple by 5.4% in the first quarter. Hexavest Inc. now owns 2,461,481 shares of the iPhone maker’s stock valued at $353,616,000 after buying an additional 125,947 shares during the period. First Hawaiian Bank increased its position in Apple by 9.7% in the first quarter. First Hawaiian Bank now owns 6,456 shares of the iPhone maker’s stock valued at $928,000 after buying an additional 572 shares during the period. Rockland Trust Co. increased its position in Apple by 0.4% in the first quarter. Rockland Trust Co. now owns 12,058 shares of the iPhone maker’s stock valued at $1,732,000 after buying an additional 54 shares during the period. Finally, Sabal Trust CO increased its position in Apple by 0.3% in the first quarter. Sabal Trust CO now owns 215,574 shares of the iPhone maker’s stock valued at $30,970,000 after buying an additional 575 shares during the period. Institutional investors and hedge funds own 58.76% of the company’s stock.

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.

5 Day Chart for NASDAQ:AAPL

Receive News & Stock 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 stocks with our FREE daily email newsletter.