Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating restated by equities researchers at Drexel Hamilton in a research note issued on Monday. They presently have a $185.00 price objective on the iPhone maker’s stock. Drexel Hamilton’s price objective would suggest a potential upside of 62.20% from the company’s previous close.

Several other research analysts also recently commented on AAPL. Cowen and Company restated an “outperform” rating and set a $125.00 price objective on shares of Apple in a research report on Tuesday, June 14th. Needham & Company LLC restated a “strong-buy” rating and set a $150.00 price objective on shares of Apple in a research report on Tuesday, June 14th. Sanford C. Bernstein restated a “buy” rating and set a $135.00 price objective on shares of Apple in a research report on Tuesday, June 14th. Goldman Sachs Group Inc. restated a “buy” rating and set a $124.00 price objective on shares of Apple in a research report on Tuesday, June 14th. Finally, Bank of America Corp. restated a “buy” rating and set a $120.00 price objective on shares of Apple in a research report on Tuesday, June 14th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $126.13.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPL) traded up 1.80% on Monday, hitting $116.11. The stock had a trading volume of 12,529,869 shares. Apple has a 12-month low of $89.47 and a 12-month high of $123.82. The company has a market capitalization of $625.65 billion, a PE ratio of 13.54 and a beta of 1.22. The company has a 50 day moving average of $110.36 and a 200 day moving average of $103.24.

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

In related news, CEO Timothy D. Cook sold 334,000 shares of Apple stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $107.23, for a total value of $35,814,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 110,000 shares of Apple stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $106.84, for a total transaction of $11,752,400.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in AAPL. Cohen & Steers Inc. boosted its stake 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 boosted its stake 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 boosted its stake 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 stake in Apple during the first quarter worth approximately $325,287,000. Finally, Franklin Resources Inc. boosted its stake 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 own 56.46% of the company’s stock.

Apple Company Profile

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

Receive News & Stock 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 stocks with our FREE daily email newsletter.