Barclays PLC restated their equal weight rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report released on Thursday.

Several other research firms have also recently issued reports on AAPL. UBS AG set a $165.00 price target on shares of Apple and gave the company a buy rating in a report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed an outperform rating and issued a $160.08 price target (down from $176.00) on shares of Apple in a report on Wednesday, August 9th. Longbow Research reaffirmed a buy rating and issued a $173.00 price target on shares of Apple in a report on Friday, August 11th. Instinet reaffirmed a buy rating and issued a $175.00 price target (up from $165.00) on shares of Apple in a report on Wednesday, August 2nd. Finally, KeyCorp reaffirmed an equal weight rating on shares of Apple in a report on Friday, August 4th. Eleven research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Apple has an average rating of Buy and an average target price of $167.73.

Shares of Apple (NASDAQ AAPL) traded up 0.67% during trading on Thursday, reaching $160.33. 19,380,575 shares of the company were exchanged. The firm has a 50-day moving average price of $153.45 and a 200-day moving average price of $146.55. The stock has a market capitalization of $828.14 billion, a P/E ratio of 18.20 and a beta of 1.31. Apple has a 1-year low of $102.53 and a 1-year high of $162.51.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 earnings per share. Equities research analysts predict that Apple will post $9.02 earnings per share for the current fiscal year.

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Apple announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.

In other news, insider Luca Maestri sold 4,757 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the sale, the insider now owns 3,414 shares in the company, valued at approximately $528,145.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Johny Srouji sold 10,019 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $153.96, for a total value of $1,542,525.24. Following the sale, the insider now owns 91,291 shares in the company, valued at approximately $14,055,162.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,140 shares of company stock worth $29,045,404. Company insiders own 0.08% of the company’s stock.

Several large investors have recently made changes to their positions in AAPL. Berkshire Hathaway Inc. boosted its stake in Apple by 0.6% in the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock worth $18,750,246,000 after buying an additional 834,854 shares during the period. Norges Bank acquired a new stake in Apple during the fourth quarter worth $5,625,709,000. Capital Research Global Investors boosted its stake in Apple by 15.0% in the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after buying an additional 3,845,363 shares during the period. Legal & General Group Plc boosted its stake in Apple by 3.0% in the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock worth $3,759,849,000 after buying an additional 771,046 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Apple by 301.3% in the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after buying an additional 15,018,790 shares during the period. Institutional investors own 61.50% 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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