Apple Inc. (AAPL) Given a $146.00 Price Target at Barclays PLC

Apple Inc. (NASDAQ:AAPL) received a $146.00 target price from investment analysts at Barclays PLC in a research report issued to clients and investors on Wednesday. The firm presently has a “neutral” rating on the iPhone maker’s stock. Barclays PLC’s price objective indicates a potential downside of 9.22% from the company’s previous close.

Several other analysts also recently weighed in on AAPL. Royal Bank Of Canada lifted their target price on shares of Apple from $157.00 to $168.00 and gave the company an “outperform” rating in a report on Monday, May 22nd. Morgan Stanley lifted their target price on shares of Apple from $177.00 to $182.00 and gave the company an “overweight” rating in a report on Monday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $175.00 target price (up previously from $165.00) on shares of Apple in a report on Wednesday, August 2nd. They noted that the move was a valuation call. Bank of America Corporation reaffirmed a “buy” rating and issued a $180.00 target price (up previously from $175.00) on shares of Apple in a report on Wednesday, August 2nd. Finally, Cleveland Research raised shares of Apple from a “neutral” rating to a “buy” rating and set a $197.00 target price on the stock in a report on Tuesday, August 29th. Eleven analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. Apple has a consensus rating of “Buy” and an average target price of $169.52.

Apple (NASDAQ:AAPL) traded down 1.16% during midday trading on Wednesday, reaching $158.99. 11,118,866 shares of the company’s stock traded hands. The company has a market capitalization of $821.22 billion, a PE ratio of 18.05 and a beta of 1.27. Apple has a 1-year low of $104.08 and a 1-year high of $164.94. The firm’s 50 day moving average price is $158.11 and its 200-day moving average price is $148.94.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. The company had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.42 earnings per share. Equities analysts expect that Apple will post $9.02 EPS for the current year.

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In other Apple news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP D Bruce Sewell sold 31,625 shares of Apple stock in a transaction on Monday, August 7th. The stock was sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the sale, 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 have sold 432,930 shares of company stock worth $69,008,577 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Saratoga Research & Investment Management boosted its stake in Apple by 0.6% during the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after buying an additional 4,137 shares in the last quarter. Pinnacle Bank acquired a new stake in Apple during the first quarter worth $1,924,000. Green Square Capital LLC boosted its stake in Apple by 6.7% during the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after buying an additional 5,491 shares in the last quarter. Headinvest LLC boosted its stake in Apple by 2.5% during the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after buying an additional 390 shares in the last quarter. Finally, Norges Bank acquired a new stake in Apple during the fourth quarter worth $5,625,709,000. Hedge funds and other institutional investors own 60.45% 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.

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