Citigroup Inc. set a $120.00 target price on Apple Inc. (NASDAQ:AAPL) in a research report released on Tuesday morning. The firm currently has a a buy rating on the iPhone maker’s stock.

AAPL has been the topic of a number of other research reports. Morningstar Inc. reiterated a neutral rating on shares of Apple in a research report on Monday. JPMorgan Chase & Co. set a $107.00 target price on shares of Apple and gave the stock a buy rating in a research report on Monday. 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 report on Monday. Stifel Nicolaus reiterated a buy rating and issued a $120.00 target price on shares of Apple in a research report on Friday, September 16th. Finally, Piper Jaffray Cos. upgraded shares of Apple to an overweight rating and set a $151.00 target price on the stock in a research report on Friday, September 16th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, forty-two have assigned a buy rating and two have given a strong buy rating to the stock. Apple currently has an average rating of Buy and an average price target of $126.89.

Apple (NASDAQ:AAPL) opened at 114.62 on Tuesday. Apple has a one year low of $89.47 and a one year high of $123.82. The firm has a market cap of $617.62 billion, a price-to-earnings ratio of 13.37 and a beta of 1.14. 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 quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.04. The firm had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the company posted $1.85 EPS. On average, analysts predict that Apple will post $8.26 earnings per share for the current fiscal year.

In other Apple news, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the transaction, the senior vice president now owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Johny Srouji sold 9,827 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $108.44, for a total value of $1,065,639.88. Following the completion of the transaction, the insider now directly owns 116,369 shares of the company’s stock, valued at approximately $12,619,054.36. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Zurich Insurance Group Ltd FI boosted its position in Apple by 1.4% in the first quarter. Zurich Insurance Group Ltd FI now owns 869,381 shares of the iPhone maker’s stock valued at $94,754,000 after buying an additional 11,582 shares during the period. Roffman Miller Associates Inc. PA boosted its position in shares of Apple by 25.0% in the second quarter. Roffman Miller Associates Inc. PA now owns 139,953 shares of the iPhone maker’s stock worth $13,380,000 after buying an additional 28,020 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Apple by 19.1% in the second quarter. Capstone Asset Management Co. now owns 550,349 shares of the iPhone maker’s stock worth $52,613,000 after buying an additional 88,106 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Apple by 1.0% in the first quarter. Prudential Financial Inc. now owns 12,655,593 shares of the iPhone maker’s stock worth $1,379,333,000 after buying an additional 127,360 shares during the last quarter. Finally, BlackRock Group LTD boosted its position in shares of Apple by 3.3% in the first quarter. BlackRock Group LTD now owns 47,324,047 shares of the iPhone maker’s stock worth $5,157,847,000 after buying an additional 1,498,288 shares during the last quarter. 56.45% of the stock is owned by hedge funds and other 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.

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