Apple Inc. (NASDAQ:AAPL) had its target price upped by analysts at RBC Capital Markets from $120.00 to $125.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “outperform” rating on the iPhone maker’s stock. RBC Capital Markets’ target price points to a potential upside of 9.06% from the company’s previous close.

A number of other research firms have also recently issued reports on AAPL. Citigroup Inc. reiterated a “buy” rating and issued a $115.00 target price on shares of Apple in a research note on Wednesday, July 6th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $153.00 target price on shares of Apple in a research note on Tuesday, July 26th. Cowen and Company reiterated an “outperform” rating and issued a $125.00 target price on shares of Apple in a research note on Thursday, July 28th. BMO Capital Markets reiterated an “outperform” rating and issued a $140.00 target price (up previously from $116.00) on shares of Apple in a research note on Monday. Finally, BTIG Research lifted their target price on shares of Apple from $124.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, September 15th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the company. Apple presently has an average rating of “Buy” and a consensus target price of $126.89.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPL) traded down 2.29% during midday trading on Thursday, hitting $111.99. The stock had a trading volume of 24,788,017 shares. The company has a market cap of $603.45 billion, a P/E ratio of 13.06 and a beta of 1.14. Apple has a one year low of $89.47 and a one year high of $123.82. The stock’s 50-day moving average is $108.86 and its 200-day moving average is $102.48.

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

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

Hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC increased its position in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares during the last quarter. Delphi Private Advisors LLC increased its position in Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Apple during the second quarter worth about $143,000. River & Mercantile Asset Management LLP increased its position in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares during the last quarter. Finally, Roble Belko & Company Inc increased its position in Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock worth $172,000 after buying an additional 680 shares during the last quarter. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Apple Company Profile

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.

5 Day Chart for NASDAQ:AAPL

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