Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by stock analysts at Piper Jaffray Companies in a report released on Wednesday. They currently have a $196.00 price objective on the iPhone maker’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 25.72% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Wednesday. Morgan Stanley restated a “buy” rating and issued a $199.00 price target on shares of Apple in a report on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Apple in a research note on Tuesday. Drexel Hamilton reaffirmed a “buy” rating and issued a $208.00 price objective on shares of Apple in a research note on Monday. Finally, UBS AG reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Apple in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. Apple has a consensus rating of “Buy” and an average target price of $189.40.

Apple (NASDAQ:AAPL) traded up 0.38% during midday trading on Wednesday, hitting $156.49. 13,242,532 shares of the stock traded hands. The firm’s 50-day moving average is $157.91 and its 200-day moving average is $151.39. The company has a market cap of $136.19 billion, a price-to-earnings ratio of 17.72 and a beta of 1.27. Apple has a 52-week low of $104.08 and a 52-week high of $164.94.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share. Analysts predict that Apple will post $9.01 EPS for the current year.

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In other Apple news, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the sale, the insider now owns 70,358 shares in the company, valued at approximately $11,327,638. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $158.13, for a total value of $5,000,861.25. Following the sale, the senior vice president now owns 112,430 shares of the company’s stock, valued at approximately $17,778,555.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 541,177 shares of company stock valued at $85,864,804. 0.08% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AAPL. Blue Sky Asset Management LLC acquired a new stake in Apple during the 2nd quarter valued at approximately $108,000. Hefty Wealth Partners grew its stake in Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares in the last quarter. FNY Managed Accounts LLC lifted its holdings in Apple by 852.4% during the 2nd 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. American Beacon Advisors Inc. bought a new position in Apple during the 1st quarter worth approximately $117,000. Finally, Private Vista LLC bought a new position in Apple during the 2nd quarter worth approximately $122,000. Hedge funds and other institutional investors own 60.36% of the company’s stock.

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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