Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by equities research analysts at Morgan Stanley in a note issued to investors on Wednesday. They currently have a $199.00 price target on the iPhone maker’s stock. Morgan Stanley’s price objective would suggest a potential upside of 27.65% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. UBS AG reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Monday, July 31st. Wells Fargo & Company restated a “market perform” rating and set a $140.00 price objective on shares of Apple in a report on Saturday, July 22nd. KeyCorp restated an “equal weight” rating on shares of Apple in a report on Friday, August 4th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 price objective on shares of Apple in a report on Wednesday, June 21st. Finally, Barclays PLC restated a “hold” rating and set a $146.00 price objective on shares of Apple in a report on Monday, September 4th. Nine research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $189.40.

Shares of Apple (NASDAQ AAPL) traded up 0.4218% during midday trading on Wednesday, hitting $156.5576. The stock had a trading volume of 10,631,423 shares. The stock has a 50 day moving average price of $157.91 and a 200-day moving average price of $151.39. Apple has a 52 week low of $104.08 and a 52 week high of $164.94. The stock has a market capitalization of $136.25 billion, a price-to-earnings ratio of 17.7302 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter last year, the business posted $1.42 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Apple will post $9.01 earnings per share for the current year.

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In related news, insider Angela J. Ahrendts sold 63,388 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold 541,177 shares of company stock worth $85,864,804 in the last three months. 0.08% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Stone House Investment Management LLC raised its holdings in Apple by 0.4% in the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after buying an additional 6 shares during the last quarter. FC Advisory LLC raised its holdings in Apple by 0.4% in the second quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock worth $371,000 after buying an additional 10 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its holdings in Apple by 0.3% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock worth $782,000 after buying an additional 17 shares during the last quarter. Stonehearth Capital Management LLC raised its holdings in Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares during the last quarter. Finally, Lenox Wealth Advisors Inc. raised its holdings in Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after buying an additional 20 shares during the last quarter. 60.36% 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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