Wedbush Reaffirms Their Buy Rating on Apple Inc (AAPL)

By Austin Angelo

Wedbush analyst Daniel Ives reiterated a Buy rating on Apple Inc (AAPLResearch Report) yesterday and set a price target of $245. The company’s shares closed last Monday at $218.72, close to its 52-week high of $233.47.

According to TipRanks.com, Ives is a 4-star analyst with an average return of 2.6% and a 53.3% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Tenable Holdings Inc, and Citrix Systems Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Apple Inc with a $223.36 average price target, a 2.0% upside from current levels. In a report issued on September 11, Monness also assigned a Buy rating to the stock with a $265 price target.

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The company has a one-year high of $233.47 and a one-year low of $142. Currently, Apple Inc has an average volume of 25.87M.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year. Last month, Arthur Levinson, a Director at AAPL sold 17,500 shares for a total of $3,529,575.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.