Apple Inc. (NASDAQ:AAPL) had its target price raised by stock analysts at Royal Bank Of Canada from $180.00 to $182.00 in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the iPhone maker’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 13.84% from the stock’s current price.

Other analysts have also issued reports about the company. UBS AG reissued a “buy” rating and set a $170.00 price target on shares of Apple in a research note on Saturday, May 20th. Deutsche Bank AG reissued a “hold” rating and set a $130.00 price target on shares of Apple in a research note on Tuesday, June 6th. Credit Suisse Group reissued an “outperform” rating and set a $170.00 price target on shares of Apple in a research note on Tuesday, June 6th. BMO Capital Markets reissued an “outperform” rating and set a $170.00 price target on shares of Apple in a research note on Tuesday, July 25th. Finally, Sanford C. Bernstein reissued a “buy” rating and set a $160.00 price target on shares of Apple in a research note on Tuesday, May 23rd. Eleven research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $187.63.

Shares of Apple (NASDAQ:AAPL) opened at 159.88 on Thursday. Apple has a one year low of $104.08 and a one year high of $164.94. The company has a market capitalization of $825.82 billion, a PE ratio of 18.15 and a beta of 1.27. The firm’s 50-day moving average price is $158.97 and its 200 day moving average price is $149.42.

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. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same period last year, the firm posted $1.42 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate 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 Apple stock in a transaction dated Thursday, July 6th. The stock was 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 SEC, which is available through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the completion of the sale, the director now directly owns 1,168,283 shares in the company, valued at $184,098,035.14. The disclosure for this sale can be found here. Insiders sold 432,930 shares of company stock worth $69,008,577 over the last ninety days. Insiders own 0.08% of the company’s stock.

Several hedge funds have recently modified their holdings of AAPL. Norges Bank bought a new stake in Apple during the fourth quarter worth approximately $5,625,709,000. Janus Henderson Group PLC increased its stake in Apple by 301.3% during 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 acquiring an additional 15,018,790 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in Apple by 14,030.2% during the second quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock worth $31,352,000 after acquiring an additional 4,483,360 shares during the last quarter. Capital Research Global Investors increased its stake in Apple by 15.0% during 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 acquiring an additional 3,845,363 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Apple by 200.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,765,574 shares of the iPhone maker’s stock worth $686,338,000 after acquiring an additional 3,178,809 shares during the last quarter. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

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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