Apple (NASDAQ:AAPL) had its price target hoisted by equities research analysts at Morgan Stanley from $226.00 to $253.00 in a note issued to investors on Thursday, Marketbeat.com reports. The firm presently has an “overweight” rating on the iPhone maker’s stock. Morgan Stanley’s target price points to a potential upside of 23.73% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Rosenblatt Securities cut Apple to a “hold” rating and set a $200.00 price target on the stock. in a research report on Monday, November 5th. Macquarie reiterated a “buy” rating and set a $222.00 price target on shares of Apple in a research report on Monday, November 5th. Nomura reiterated a “neutral” rating and set a $185.00 price target on shares of Apple in a research report on Monday, November 5th. Robert W. Baird lowered their price target on Apple from $235.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, November 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Apple from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Friday, November 2nd. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $224.27.

AAPL traded down $4.02 during trading hours on Thursday, hitting $204.47. The company’s stock had a trading volume of 34,317,659 shares, compared to its average volume of 41,482,956. Apple has a fifty-two week low of $150.24 and a fifty-two week high of $233.47. The stock has a market cap of $1,031.93 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.51 and a beta of 1.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. Apple had a return on equity of 48.68% and a net margin of 22.41%. The company had revenue of $62.90 billion for the quarter, compared to analysts’ expectations of $61.55 billion. During the same period last year, the firm earned $2.07 EPS. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. Equities analysts anticipate that Apple will post 13.35 EPS for the current year.

In other news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $217.79, for a total value of $57,749,196.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total value of $5,816,500.00. Following the completion of the transaction, the senior vice president now directly owns 105,538 shares in the company, valued at $24,554,471.08. The disclosure for this sale can be found here. Insiders have sold 480,737 shares of company stock worth $107,157,170 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Fort L.P. acquired a new position in Apple during the 2nd quarter worth $119,000. Delphi Private Advisors LLC acquired a new position in Apple during the 2nd quarter worth $120,000. Cranbrook Wealth Management LLC lifted its holdings in Apple by 76.1% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock worth $129,000 after buying an additional 302 shares in the last quarter. Quattro Financial Advisors LLC acquired a new position in Apple during the 1st quarter worth $133,000. Finally, Brand Asset Management Group Inc. acquired a new position in Apple during the 2nd quarter worth $134,000. 58.44% of the stock is currently owned by institutional investors and hedge funds.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Analyst Recommendations for Apple (NASDAQ:AAPL)

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