Piper Jaffray Cos. restated their overweight rating on shares of Apple Inc. (NASDAQ:AAPL) in a report released on Tuesday morning. They currently have a $151.00 price objective on the iPhone maker’s stock.

Several other research firms have also issued reports on AAPL. Canaccord Genuity upped their target price on shares of Apple from $120.00 to $140.00 and gave the stock a buy rating in a research note on Friday, September 16th. Stifel Nicolaus reiterated a buy rating and issued a $120.00 target price on shares of Apple in a research note on Friday, September 16th. Credit Agricole SA upped their target price on shares of Apple from $120.00 to $130.00 and gave the stock a buy rating in a research note on Friday, September 16th. RBC Capital Markets reiterated an outperform rating and issued a $120.00 target price (up previously from $117.00) on shares of Apple in a research note on Friday, September 16th. Finally, BMO Capital Markets reiterated an outperform rating and issued a $140.00 target price (up previously from $116.00) on shares of Apple in a research note on Monday, September 19th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Apple currently has an average rating of Buy and an average target price of $126.13.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Shares of Apple (NASDAQ:AAPL) traded down 0.04% during mid-day trading on Tuesday, reaching $112.95. 7,735,852 shares of the company’s stock traded hands. The firm has a 50-day moving average of $109.98 and a 200 day moving average of $103.03. The company has a market cap of $608.62 billion, a P/E ratio of 13.17 and a beta of 1.22. Apple has a 12-month low of $89.47 and a 12-month high of $123.82.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. During the same quarter in the prior year, the business posted $1.85 EPS. The business’s revenue was down 14.6% compared to the same quarter last year. Equities analysts forecast that Apple will post $8.26 EPS for the current year.

In related news, COO Jeffrey E. Williams sold 43,769 shares of Apple stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $112.59, for a total value of $4,927,951.71. Following the completion of the transaction, the chief operating officer now directly owns 90,657 shares in the company, valued at $10,207,071.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Riccio sold 22,381 shares of Apple stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total value of $2,530,395.86. Following the completion of the transaction, the insider now owns 47,043 shares of the company’s stock, valued at $5,318,681.58. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Apple by 0.4% in the second quarter. Vanguard Group Inc. now owns 331,395,817 shares of the iPhone maker’s stock worth $31,681,440,000 after buying an additional 1,408,642 shares during the last quarter. BlackRock Group LTD increased its position in shares of Apple by 1.6% in the second quarter. BlackRock Group LTD now owns 48,083,386 shares of the iPhone maker’s stock worth $4,596,772,000 after buying an additional 759,339 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock worth $3,991,635,000 after buying an additional 301,502 shares during the last quarter. Legal & General Group Plc increased its position in shares of Apple by 2.6% in the second quarter. Legal & General Group Plc now owns 24,474,691 shares of the iPhone maker’s stock worth $2,339,700,000 after buying an additional 625,760 shares during the last quarter. Finally, Cohen & Steers Inc. increased its position in shares of 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 last quarter. Institutional investors 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.

5 Day Chart for NASDAQ:AAPL

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