Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by investment analysts at J P Morgan Chase & Co in a note issued to investors on Monday.

A number of other analysts also recently issued reports on the company. Royal Bank Of Canada raised their price objective on Apple from $157.00 to $168.00 and gave the stock an “outperform” rating in a research report on Monday, May 22nd. Morgan Stanley raised their price objective on Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Needham & Company LLC reissued a “buy” rating and set a $175.00 price objective (up from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Bank of America Corporation reissued a “buy” rating and set a $180.00 price objective (up from $175.00) on shares of Apple in a research report on Wednesday, August 2nd. Finally, Cleveland Research raised Apple from a “neutral” rating to a “buy” rating and set a $197.00 price objective for the company in a research report on Tuesday, August 29th. Eleven research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. Apple presently has a consensus rating of “Buy” and an average price target of $168.89.

Shares of Apple (NASDAQ:AAPL) traded up 1.77% during mid-day trading on Monday, hitting $161.43. 14,460,678 shares of the stock were exchanged. The company has a 50-day moving average price of $158.01 and a 200-day moving average price of $148.76. Apple has a 12 month low of $102.53 and a 12 month high of $164.94. The stock has a market cap of $833.82 billion, a price-to-earnings ratio of 18.33 and a beta of 1.27.

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

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In other news, insider Daniel J. Riccio sold 11,949 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Federighi sold 63,163 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $158.07, for a total value of $9,984,175.41. Following the completion of the sale, the insider now directly owns 359,988 shares of the company’s stock, valued at approximately $56,903,303.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Apple in the second quarter worth $400,000. Blue Sky Asset Management LLC acquired a new stake in shares of Apple in the second quarter worth $108,000. FNY Managed Accounts LLC boosted its position in shares of Apple by 852.4% in 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 period. Hefty Wealth Partners boosted its position in shares of Apple by 27.6% in 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 period. Finally, American Beacon Advisors Inc. acquired a new stake in shares of Apple in the first quarter worth $117,000. 60.45% of the stock is owned by institutional investors and hedge funds.

About Apple

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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