Wells Fargo & Co. restated their market perform rating on shares of Apple Inc. (NASDAQ:AAPL) in a report released on Tuesday morning. Wells Fargo & Co. currently has a $112.50 price objective on the iPhone maker’s stock.

Other equities analysts have also recently issued reports about the stock. Canaccord Genuity upped their price objective on shares of Apple from $120.00 to $140.00 and gave the stock a buy rating in a research report on Friday, September 16th. Credit Agricole SA upped their price objective on shares of Apple from $120.00 to $130.00 and gave the stock a buy rating in a research report on Friday, September 16th. RBC Capital Markets restated an outperform rating and set a $120.00 price objective (up from $117.00) on shares of Apple in a research report on Friday, September 16th. Piper Jaffray Cos. upgraded shares of Apple to an overweight rating and set a $151.00 price objective for the company in a research report on Friday, September 16th. Finally, Stifel Nicolaus restated a buy rating and set a $120.00 price objective on shares of Apple in a research report on Friday, September 16th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $126.89.

Apple (NASDAQ:AAPL) opened at 114.62 on Tuesday. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The stock has a market capitalization of $617.62 billion, a PE ratio of 13.37 and a beta of 1.14. The firm has a 50 day moving average of $108.86 and a 200-day moving average of $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 the consensus estimate of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm earned $42.36 billion during the quarter, compared to analysts’ expectations of $42.35 billion. During the same period in the previous year, the business posted $1.85 EPS. The business’s revenue was down 14.6% compared to the same quarter last year. On average, equities analysts predict that Apple will post $8.26 EPS for the current year.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 105,839 shares in the company, valued at $10,583,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Daniel J. Riccio sold 49,996 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $105.95, for a total value of $5,297,076.20. Following the sale, the senior vice president now owns 67,143 shares in the company, valued at approximately $7,113,800.85. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in AAPL. Penserra Capital Management LLC raised its stake in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock valued at $103,000 after buying an additional 304 shares during the last quarter. Delphi Private Advisors LLC raised its stake in Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock valued at $140,000 after buying an additional 69 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Apple during the second quarter valued at about $143,000. River & Mercantile Asset Management LLP raised its stake 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 valued at $172,000 after buying an additional 334 shares during the last quarter. Finally, Roble Belko & Company Inc raised its stake in Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 680 shares during the last quarter. Institutional investors and hedge funds 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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