Apple Inc. (NASDAQ:AAPL)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Wells Fargo & Co. in a research note issued to investors on Tuesday. They presently have a $112.50 price objective on the iPhone maker’s stock. Wells Fargo & Co.’s price objective indicates a potential downside of 0.95% from the company’s previous close.

A number of other analysts have also recently weighed in on AAPL. Nomura restated a “buy” rating and issued a $120.00 price target on shares of Apple in a research note on Monday, May 23rd. Brean Capital restated a “buy” rating on shares of Apple in a research note on Tuesday, May 24th. Pacific Crest upgraded Apple to a “buy” rating in a research note on Tuesday, May 24th. BMO Capital Markets restated a “buy” rating and issued a $117.00 price target on shares of Apple in a research note on Tuesday, May 24th. Finally, Morgan Stanley set a $120.00 price target on Apple and gave the company a “buy” rating in a research note on Wednesday, May 25th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, forty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Apple currently has a consensus rating of “Buy” and an average target price of $126.34.

Shares of Apple (NASDAQ:AAPL) traded up 0.19% during mid-day trading on Tuesday, hitting $113.80. The stock had a trading volume of 15,042,514 shares. The firm has a 50 day moving average price of $108.13 and a 200 day moving average price of $102.24. Apple has a 52-week low of $89.47 and a 52-week high of $123.82. The firm has a market cap of $613.20 billion, a PE ratio of 13.27 and a beta of 1.14.

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

In other news, CEO Timothy D. Cook sold 110,000 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the 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 disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC increased its position in shares of Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares in the last quarter. Delphi Private Advisors LLC increased its position in shares of Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in shares of Apple during the second quarter worth approximately $143,000. River & Mercantile Asset Management LLP increased its position in shares of Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares in the last quarter. Finally, Roble Belko & Company Inc increased its position in shares of Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock worth $172,000 after buying an additional 680 shares in the last quarter. 56.52% of the stock is owned by hedge funds and other institutional investors.

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

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