Apple (NASDAQ:AAPL) had its price target boosted by equities researchers at Deutsche Bank to $205.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm presently has a “hold” rating on the iPhone maker’s stock. Deutsche Bank’s target price suggests a potential downside of 8.42% from the company’s current price.

Other research analysts also recently issued research reports about the stock. BTIG Research upgraded shares of Apple to a “buy” rating and upped their price target for the stock from $207.00 to $235.00 in a research report on Wednesday, August 1st. Macquarie set a $214.00 price target on shares of Apple and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Morgan Stanley reiterated a “buy” rating and set a $232.00 price target on shares of Apple in a research report on Wednesday, August 22nd. S&P Equity Research upped their price target on shares of Apple to $250.00 and gave the stock an “in-line” rating in a research report on Tuesday. They noted that the move was a valuation call. Finally, UBS Group assumed coverage on shares of Apple in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty have assigned a buy rating to the company. Apple currently has a consensus rating of “Buy” and an average target price of $217.53.

Shares of NASDAQ AAPL opened at $223.84 on Thursday. The stock has a market cap of $1,086.59 billion, a P/E ratio of 20.04, a P/E/G ratio of 1.95 and a beta of 1.33. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. Apple has a 12-month low of $149.16 and a 12-month high of $229.67.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.18 by $0.16. The business had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 EPS. sell-side analysts forecast that Apple will post 11.76 earnings per share for the current fiscal year.

In other news, Director Arthur D. Levinson sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $206.58, for a total value of $4,131,600.00. Following the completion of the sale, the director now directly owns 1,153,283 shares of the company’s stock, valued at approximately $238,245,202.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 378,400 shares of company stock valued at $81,052,754. 0.08% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in AAPL. Summit Trail Advisors LLC increased its stake in Apple by 17,669.4% during the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after purchasing an additional 20,067,124 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in Apple by 18,553.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock worth $89,526,000 after purchasing an additional 16,668,866 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Apple during the 1st quarter worth approximately $830,026,000. Private Advisor Group LLC increased its stake in Apple by 1,185.5% during the 2nd quarter. Private Advisor Group LLC now owns 4,320,770 shares of the iPhone maker’s stock worth $800,386,000 after purchasing an additional 3,984,643 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Apple during the 2nd quarter worth approximately $706,904,000. 58.62% of the stock is owned by institutional investors.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Analyst Recommendations for Apple (NASDAQ:AAPL)

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