Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank Of Canada in a note issued to investors on Monday. They currently have a $180.00 price objective on the iPhone maker’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 12.75% from the stock’s previous close.

A number of other brokerages have also weighed in on AAPL. Barclays PLC reaffirmed a “hold” rating and issued a $146.00 target price on shares of Apple in a research note on Monday, September 4th. Piper Jaffray Companies reissued an “overweight” rating and set a $190.00 price target on shares of Apple in a research report on Tuesday, September 5th. Robert W. Baird reissued a “buy” rating and set a $172.00 price target on shares of Apple in a research report on Tuesday, September 5th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Apple in a report on Wednesday, September 6th. Finally, Instinet reiterated a “buy” rating and issued a $185.00 price target (up previously from $175.00) on shares of Apple in a research note on Wednesday, September 6th. Eleven research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. Apple currently has a consensus rating of “Buy” and a consensus target price of $187.54.

Shares of Apple (NASDAQ:AAPL) opened at 159.65 on Monday. The stock has a market cap of $824.63 billion, a price-to-earnings ratio of 18.13 and a beta of 1.27. Apple has a 12-month low of $104.08 and a 12-month high of $164.94. The stock has a 50 day moving average price of $158.37 and a 200-day moving average price of $149.12.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 EPS. Equities analysts anticipate that Apple will post $9.02 EPS for the current fiscal year.

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In related news, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total transaction of $1,707,034.14. The disclosure for this sale can be found here. In the last three months, insiders sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Apple during the second quarter valued at $400,000. Blue Sky Asset Management LLC bought a new position in Apple during the second quarter worth $108,000. FNY Managed Accounts LLC raised its stake in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares during the last quarter. Hefty Wealth Partners raised its stake in Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares during the last quarter. Finally, American Beacon Advisors Inc. bought a new position in Apple during the first quarter worth $117,000. 60.45% 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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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