Credit Suisse Group reissued their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note released on Tuesday morning. They currently have a $170.00 target price on the iPhone maker’s stock.

Other analysts also recently issued research reports about the stock. UBS AG set a $151.00 price objective on shares of Apple and gave the stock a buy rating in a research report on Tuesday, April 4th. Raymond James Financial, Inc. reaffirmed an outperform rating and set a $159.00 price objective (up previously from $152.00) on shares of Apple in a research report on Monday, April 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and set a $150.00 price objective on shares of Apple in a research report on Wednesday, April 12th. Rosenblatt Securities reaffirmed a neutral rating and set a $120.00 price objective on shares of Apple in a research report on Monday, April 17th. Finally, FBN Securities raised their price objective on shares of Apple from $155.00 to $160.00 and gave the stock an outperform rating in a research report on Thursday, May 4th. Twelve equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $161.67.

Apple (AAPL) opened at 149.50 on Tuesday. The firm has a 50-day moving average of $146.92 and a 200-day moving average of $141.83. Apple has a 52 week low of $96.42 and a 52 week high of $156.65. The company has a market cap of $779.47 billion, a price-to-earnings ratio of 17.54 and a beta of 1.31.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. The business had revenue of $52.90 billion during the quarter, compared to the consensus estimate of $52.61 billion. Apple had a net margin of 20.74% and a return on equity of 35.09%. Equities analysts forecast that Apple will post $8.87 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This article was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was stolen and reposted in violation of United States and international trademark and copyright laws. The correct version of this article can be accessed at https://www.watchlistnews.com/apples-aapl-outperform-rating-reiterated-at-credit-suisse-group/1461253.html.

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

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 value of $735,907.90. Following the completion of the sale, the insider now directly owns 3,414 shares in the company, valued at $528,145.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Johny Srouji sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $153.20, for a total value of $1,532,000.00. Following the completion of the sale, the senior vice president now owns 96,738 shares of the company’s stock, valued at $14,820,261.60. The disclosure for this sale can be found here. Insiders sold 373,000 shares of company stock valued at $56,497,046 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Apple during the fourth quarter worth about $5,625,709,000. Asset Management One Co. Ltd. raised its position in shares of Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock valued at $1,096,072,000 after buying an additional 8,571,027 shares during the last quarter. Harbour Capital Advisors LLC raised its position in shares of Apple by 14,030.2% in the second quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after buying an additional 4,483,360 shares during the last quarter. Glenview Capital Management LLC acquired a new position in shares of Apple during the fourth quarter valued at $365,191,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock valued at $1,334,527,000 after buying an additional 1,749,797 shares during the last quarter. Institutional investors and hedge funds own 61.23% 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)

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.