J P Morgan Chase & Co set a $165.00 price target on Apple Inc. (NASDAQ:AAPL) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the iPhone maker’s stock.

AAPL has been the topic of a number of other reports. Keefe, Bruyette & Woods set a $170.00 target price on shares of Apple and gave the company a buy rating in a research note on Monday, May 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $170.00 target price on shares of Apple in a research note on Wednesday, June 21st. Nomura reaffirmed a buy rating and issued a $165.00 target price on shares of Apple in a research note on Wednesday, July 5th. Barclays PLC set a $123.00 target price on shares of Apple and gave the company a neutral rating in a research note on Wednesday, May 3rd. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $177.00 target price (up from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Eleven investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $160.38.

Apple (AAPL) opened at 150.27 on Wednesday. The stock has a 50 day moving average of $147.46 and a 200 day moving average of $140.51. The firm has a market capitalization of $783.48 billion, a PE ratio of 17.63 and a beta of 1.31. Apple has a 12 month low of $96.42 and a 12 month high of $156.65.

Apple (NASDAQ:AAPL) last announced 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 for 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%. On average, equities analysts predict that Apple will post $8.91 earnings per share for the current fiscal year.

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Apple declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 6.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

In other Apple news, SVP D Bruce Sewell sold 67,500 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $148.76, for a total value of $10,041,300.00. Following the sale, the senior vice president now directly owns 141,325 shares of the company’s stock, valued at $21,023,507. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $153.88, for a total value of $5,385,800.00. Following the completion of the sale, the director now directly owns 1,168,283 shares in the company, valued at $179,775,388.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 373,000 shares of company stock valued at $56,497,046. 0.08% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of AAPL. Fairview Capital Investment Management LLC raised its stake in shares of Apple by 2.7% in the fourth quarter. Fairview Capital Investment Management LLC now owns 13,481 shares of the iPhone maker’s stock valued at $1,561,000 after buying an additional 350 shares during the last quarter. Norges Bank acquired a new stake in shares of Apple during the fourth quarter valued at approximately $5,625,709,000. Perigon Wealth Management LLC raised its stake in shares of Apple by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock valued at $20,613,000 after buying an additional 8,233 shares during the last quarter. IFM Investors Pty Ltd acquired a new stake in shares of Apple during the fourth quarter valued at approximately $7,910,000. Finally, RB Capital Management LLC acquired a new stake in shares of Apple during the fourth quarter valued at approximately $5,793,000. 61.21% of the stock is currently owned by institutional investors.

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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