Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Sanford C. Bernstein in a report issued on Wednesday. They presently have a $175.00 price target on the iPhone maker’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 7.97% from the stock’s previous close.

A number of other research firms have also recently weighed in on AAPL. Barclays PLC reiterated a “hold” rating and issued a $146.00 target price on shares of Apple in a research note on Monday. Piper Jaffray Companies reiterated an “overweight” rating and issued a $190.00 target price on shares of Apple in a research note on Tuesday. Robert W. Baird reiterated a “buy” rating and issued a $172.00 target price on shares of Apple in a research note on Tuesday. Royal Bank Of Canada boosted their target price on shares of Apple from $176.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Eleven analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $168.67.

Shares of Apple (NASDAQ:AAPL) opened at 162.08 on Wednesday. Apple has a 12 month low of $102.53 and a 12 month high of $164.94. The firm has a market capitalization of $837.18 billion, a P/E ratio of 18.40 and a beta of 1.27. The firm’s 50-day moving average is $156.93 and its 200 day moving average is $148.33.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 earnings per share. On average, equities research analysts anticipate that Apple will post $9.02 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This piece was posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://theolympiareport.com/2017/09/06/apple-inc-aapl-rating-reiterated-by-sanford-c-bernstein.html.

In other Apple news, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $158.13, for a total value of $5,000,861.25. Following the completion of the transaction, the senior vice president now owns 112,430 shares in the company, valued at approximately $17,778,555.90. The disclosure for this sale can be found here. Insiders sold a total of 432,930 shares of company stock worth $69,008,577 in the last 90 days. 0.08% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Berkshire Hathaway Inc. lifted its holdings in Apple by 0.6% in the 2nd quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after purchasing an additional 834,854 shares in the last quarter. Norges Bank purchased a new position in Apple in the 4th quarter valued at $5,625,709,000. Capital Research Global Investors lifted its holdings in Apple by 15.0% in the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after purchasing an additional 3,845,363 shares in the last quarter. Legal & General Group Plc lifted its holdings in Apple by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after purchasing an additional 771,046 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Apple by 301.3% in the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after purchasing an additional 15,018,790 shares in the last quarter. Institutional investors own 60.44% 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.