Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by analysts at Mizuho in a research report issued on Wednesday, July 12th.

AAPL has been the subject of a number of other reports. Keefe, Bruyette & Woods set a $170.00 target price on shares of Apple and gave the stock a “buy” rating in a research note on Monday, May 22nd. Goldman Sachs Group Inc reaffirmed a “buy” rating and issued a $170.00 target price on shares of Apple in a research note on Wednesday, June 21st. Nomura reaffirmed a “buy” rating and issued a $165.00 target price on shares of Apple in a research note on Wednesday, July 5th. Barclays PLC set a $123.00 price target on shares of Apple and gave the stock a “neutral” rating in a research report on Wednesday, May 3rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $177.00 price target (up from $161.00) on shares of Apple in a research report on Wednesday, May 17th. Twelve investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Apple currently has an average rating of “Buy” and an average price target of $167.57.

Shares of Apple (AAPL) opened at 156.39 on Wednesday. The company’s 50 day moving average price is $147.04 and its 200 day moving average price is $142.60. The stock has a market capitalization of $808.50 billion, a price-to-earnings ratio of 17.76 and a beta of 1.31. Apple has a one year low of $102.53 and a one year high of $157.40.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ 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%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 EPS. On average, analysts expect that Apple will post $9.00 earnings per share for the current fiscal year.

Apple announced that its board has approved a share buyback plan on Tuesday, May 2nd that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

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In other Apple news, insider Luca Maestri sold 4,757 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the transaction, the insider now directly owns 3,414 shares in the company, valued at approximately $528,145.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $155.32, for a total transaction of $1,855,918.68. Following the completion of the transaction, the insider now owns 13,049 shares of the company’s stock, valued at $2,026,770.68. The disclosure for this sale can be found here. Insiders have sold a total of 230,500 shares of company stock valued at $35,357,246 over the last quarter. 0.08% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fusion Family Wealth LLC acquired a new position in shares of Apple during the fourth quarter valued at about $1,115,000. Artisan Partners Limited Partnership raised its position in shares of Apple by 5.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 420,128 shares of the iPhone maker’s stock valued at $48,659,000 after buying an additional 19,845 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Apple by 9.0% in the fourth quarter. Cleararc Capital Inc. now owns 151,235 shares of the iPhone maker’s stock valued at $17,516,000 after buying an additional 12,534 shares during the last quarter. State Street Corp raised its position in shares of Apple by 2.0% in the fourth quarter. State Street Corp now owns 219,739,579 shares of the iPhone maker’s stock valued at $25,450,260,000 after buying an additional 4,301,005 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. raised its position in shares of Apple by 6.7% in the fourth quarter. Peregrine Asset Advisers Inc. now owns 13,806 shares of the iPhone maker’s stock valued at $1,599,000 after buying an additional 865 shares during the last quarter. Institutional investors and hedge funds own 61.17% 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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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