Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by equities research analysts at Bank of America Corp. in a note issued to investors on Wednesday. They currently have a $125.00 target price on the iPhone maker’s stock. Bank of America Corp.’s price target indicates a potential upside of 10.62% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity boosted their target price on shares of Apple from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 price objective on shares of Apple in a research report on Friday, September 16th. Piper Jaffray Cos. upgraded shares of Apple to an “overweight” rating and set a $151.00 price objective on the stock in a research report on Friday, September 16th. Credit Agricole SA boosted their price objective on shares of Apple from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, September 16th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $120.00 price objective (up from $117.00) on shares of Apple in a research report on Friday, September 16th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, forty-one have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $126.13.

Apple (NASDAQ:AAPL) traded up 0.05% during trading on Wednesday, reaching $113.06. 9,991,519 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $109.98 and a 200 day moving average price of $103.03. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The firm has a market capitalization of $609.22 billion, a price-to-earnings ratio of 13.18 and a beta of 1.22.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 EPS. Equities research analysts forecast that Apple will post $8.26 earnings per share for the current fiscal year.

In other news, SVP Angela J. Ahrendts sold 35,797 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $100.00, for a total value of $3,579,700.00. Following the completion of the sale, the senior vice president now directly owns 105,839 shares in the company, valued at approximately $10,583,900. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $100.00, for a total value of $2,500,000.00. Following the transaction, the senior vice president now owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Cohen & Steers Inc. increased its position in Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock worth $999,482,000 after buying an additional 22,303,795 shares during the period. Magellan Asset Management Ltd increased its position in Apple by 56.9% in the second quarter. Magellan Asset Management Ltd now owns 15,294,140 shares of the iPhone maker’s stock worth $1,462,120,000 after buying an additional 5,543,465 shares during the period. Nordea Investment Management AB increased its position in Apple by 87.4% in the second quarter. Nordea Investment Management AB now owns 10,195,750 shares of the iPhone maker’s stock worth $974,714,000 after buying an additional 4,755,361 shares during the period. NN Investment Partners Holdings N.V. bought a new position in Apple during the first quarter worth about $325,287,000. Finally, Franklin Resources Inc. increased its position in Apple by 20.2% in the second quarter. Franklin Resources Inc. now owns 17,027,764 shares of the iPhone maker’s stock worth $1,627,849,000 after buying an additional 2,857,040 shares during the period. Institutional investors and hedge funds own 56.46% 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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