Morgan Stanley set a $247.00 target price on Apple (NASDAQ:AAPL) in a research note issued to investors on Wednesday morning, Borsen Zeitung reports. The firm currently has a buy rating on the iPhone maker’s stock.

Several other research firms have also issued reports on AAPL. Rosenblatt Securities set a $150.00 target price on shares of Apple and gave the stock a sell rating in a report on Friday, September 13th. Barclays raised their target price on shares of Apple from $192.00 to $207.00 and gave the stock an equal weight rating in a report on Wednesday, September 11th. Maxim Group reduced their price target on shares of Apple from $211.00 to $204.00 and set a hold rating on the stock in a research note on Wednesday, September 11th. Piper Jaffray Companies set a $243.00 price target on shares of Apple and gave the stock a buy rating in a research note on Tuesday, September 10th. Finally, Raymond James raised shares of Apple from a market perform rating to an outperform rating and set a $250.00 price target on the stock in a research note on Thursday, July 18th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $218.08.

Apple stock opened at $217.73 on Wednesday. The firm has a 50-day moving average price of $208.80 and a 200-day moving average price of $198.30. The firm has a market capitalization of $1,006.74 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.83 and a beta of 1.24. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. Apple has a 12-month low of $142.00 and a 12-month high of $233.47.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.08. The firm had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $2.34 EPS. As a group, sell-side analysts predict that Apple will post 11.69 earnings per share for the current fiscal year.

In other Apple news, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $214.02, for a total transaction of $3,745,350.00. Following the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at approximately $246,290,577.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The disclosure for this sale can be found here. Insiders have sold a total of 304,536 shares of company stock worth $62,894,611 in the last three months. Insiders own 0.05% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Centaurus Financial Inc. boosted its holdings in shares of Apple by 17.9% in the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after buying an additional 1,262 shares in the last quarter. Semmax Financial Advisors Inc. bought a new stake in shares of Apple in the 4th quarter valued at about $50,000. Avondale Wealth Management boosted its holdings in shares of Apple by 25.4% in the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after buying an additional 64 shares in the last quarter. NuWave Investment Management LLC boosted its holdings in shares of Apple by 2,245.0% in the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after buying an additional 449 shares in the last quarter. Finally, Horan Securities Inc. boosted its holdings in shares of Apple by 64.2% in the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after buying an additional 221 shares in the last quarter. 58.63% of the stock is currently owned by institutional investors and hedge funds.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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