Instinet reaffirmed their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note issued to investors on Wednesday. The firm currently has a $185.00 target price on the iPhone maker’s stock.

Several other equities analysts also recently issued reports on AAPL. Canaccord Genuity reissued a buy rating and set a $180.00 price target (up from $165.00) on shares of Apple in a report on Tuesday, May 16th. BMO Capital Markets reissued an outperform rating and set a $170.00 price target (up from $160.00) on shares of Apple in a report on Wednesday, May 17th. Morgan Stanley reissued an overweight rating and set a $177.00 price target (up from $161.00) on shares of Apple in a report on Wednesday, May 17th. Vetr raised shares of Apple from a hold rating to a buy rating and set a $159.81 price target for the company in a report on Wednesday, May 17th. Finally, Wells Fargo & Company reissued a market perform rating and set a $140.00 price target on shares of Apple in a report on Friday, May 19th. Eleven equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $187.63.

Apple (NASDAQ:AAPL) opened at 159.88 on Wednesday. The company has a market cap of $825.82 billion, a PE ratio of 18.15 and a beta of 1.27. Apple has a 52-week low of $104.08 and a 52-week high of $164.94. The firm has a 50-day moving average of $158.97 and a 200 day moving average of $149.42.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same period last year, the firm posted $1.42 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that Apple will post $9.01 earnings per share for the current fiscal year.

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In other Apple news, insider Johny Srouji sold 5,892 shares of Apple stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the transaction, the insider now owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. In the last three months, insiders sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Blue Sky Asset Management LLC purchased a new position in Apple during the 2nd quarter valued at about $108,000. Hefty Wealth Partners grew its holdings in Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares in the last quarter. FNY Managed Accounts LLC grew its holdings in Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in Apple during the 1st quarter valued at about $117,000. Finally, Private Vista LLC purchased a new position in Apple during the 2nd quarter valued at about $122,000. 60.45% of the stock is owned by institutional investors and hedge funds.

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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