Apple Inc. (NASDAQ:AAPL) was upgraded by analysts at KeyCorp to an “overweight” rating in a report released on Monday, The Fly reports.

Several other equities research analysts have also recently issued reports on AAPL. UBS AG reissued a “buy” rating and issued a $170.00 target price on shares of Apple in a research report on Friday, June 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $160.08 target price (down from $176.00) on shares of Apple in a research report on Wednesday, August 9th. Pacific Crest raised shares of Apple to an “overweight” rating in a research report on Monday. Zacks Investment Research raised shares of Apple from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research report on Wednesday, October 11th. Finally, Longbow Research reissued a “buy” rating and issued a $173.00 target price on shares of Apple in a research report on Friday, August 11th. Seven investment analysts have rated the stock with a hold rating and forty-seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $189.73.

Shares of Apple (NASDAQ:AAPL) opened at 156.99 on Monday. The stock has a market capitalization of $810.89 billion, a P/E ratio of 17.82 and a beta of 1.27. The stock has a 50 day moving average of $157.58 and a 200-day moving average of $151.69. Apple has a 1-year low of $104.08 and a 1-year high of $164.94.

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

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In other Apple news, SVP Johny Srouji sold 10,469 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total value of $1,698,071.80. Following the transaction, the senior vice president now owns 76,250 shares of the company’s stock, valued at $12,367,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock worth $85,864,804 in the last three months. Insiders own 0.08% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stone House Investment Management LLC raised its position in shares of Apple by 0.4% during the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after purchasing an additional 6 shares during the period. FC Advisory LLC raised its position in shares of Apple by 0.4% during the second quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock worth $371,000 after purchasing an additional 10 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in shares of Apple by 0.3% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock worth $782,000 after purchasing an additional 17 shares during the period. Stonehearth Capital Management LLC raised its position in shares of Apple by 0.8% during the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after purchasing an additional 20 shares during the period. Finally, Lenox Wealth Advisors Inc. raised its position in shares of Apple by 0.4% during the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after purchasing an additional 20 shares during the period. 60.33% of the stock is currently owned by institutional investors.

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.

The Fly

Analyst Recommendations for Apple (NASDAQ:AAPL)

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