Apple Inc. (NASDAQ:AAPL) has been given a $107.00 target price by equities researchers at JPMorgan Chase & Co. in a report issued on Monday. The firm presently has a a “buy” rating on the iPhone maker’s stock. JPMorgan Chase & Co.’s price target indicates a potential downside of 5.78% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Piper Jaffray Cos. restated an “overweight” rating and issued a $153.00 price target on shares of Apple in a research note on Tuesday, July 26th. Credit Suisse Group AG reiterated an “outperform” rating and set a $150.00 target price on shares of Apple in a research report on Thursday, September 15th. Needham & Company LLC reiterated a “buy” rating and set a $150.00 target price on shares of Apple in a research report on Wednesday, July 20th. Vetr downgraded Apple from a “hold” rating to a “sell” rating and set a $105.47 target price for the company. in a research report on Monday, August 15th. Finally, Sanford C. Bernstein lowered their target price on Apple from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, July 18th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, forty-two have issued a buy rating and two have issued a strong buy rating to the company. Apple presently has a consensus rating of “Buy” and an average price target of $126.34.

Apple (NASDAQ:AAPL) opened at 113.57 on Monday. The stock has a market capitalization of $611.97 billion, a P/E ratio of 13.24 and a beta of 1.14. Apple has a 12 month low of $89.47 and a 12 month high of $123.82. The firm’s 50-day moving average is $108.35 and its 200-day moving average is $102.31.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. During the same period in the prior year, the company posted $1.85 EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities analysts expect that Apple will post $8.26 earnings per share for the current fiscal year.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the completion of the transaction, the senior vice president now directly owns 105,839 shares in the company, valued at $10,583,900. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 334,000 shares of Apple stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $107.23, for a total value of $35,814,820.00. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Apple during the fourth quarter valued at $5,068,068,000. Cohen & Steers Inc. boosted its position in shares of Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock valued at $999,482,000 after buying an additional 22,303,795 shares in the last quarter. Magellan Asset Management Ltd boosted its position in shares of Apple by 56.9% in the second quarter. Magellan Asset Management Ltd now owns 15,294,140 shares of the iPhone maker’s stock valued at $1,462,120,000 after buying an additional 5,543,465 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Apple by 87.4% in the second quarter. Nordea Investment Management AB now owns 10,195,750 shares of the iPhone maker’s stock valued at $974,714,000 after buying an additional 4,755,361 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Apple during the first quarter valued at $325,287,000. Institutional investors own 56.45% 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.

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