BMO Capital Markets reiterated their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note released on Monday. They currently have a $140.00 price objective on the iPhone maker’s stock, up from their prior price objective of $116.00.

Several other equities analysts have also recently weighed in on AAPL. Piper Jaffray Cos. reaffirmed a buy rating and issued a $153.00 price target on shares of Apple in a research report on Sunday, May 22nd. Nomura reissued a buy rating and set a $120.00 target price on shares of Apple in a research report on Monday, May 23rd. Brean Capital reissued a buy rating on shares of Apple in a research report on Tuesday, May 24th. Pacific Crest raised shares of Apple to a buy rating in a research report on Tuesday, May 24th. Finally, Morgan Stanley set a $120.00 target price on shares of Apple and gave the stock a buy rating in a research report on Wednesday, May 25th. Four research 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 assigned a strong buy rating to the company. Apple has a consensus rating of Buy and a consensus target price of $126.34.

Shares of Apple (NASDAQ:AAPL) opened at 113.55 on Monday. The company has a market capitalization of $611.86 billion, a PE ratio of 13.24 and a beta of 1.14. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The company has a 50 day moving average price of $108.61 and a 200 day moving average price of $102.39.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results 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. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. During the same quarter last year, the firm earned $1.85 EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities research analysts expect that Apple will post $8.26 earnings per share for the current year.

In related news, insider Johny Srouji sold 9,827 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 116,369 shares of the company’s stock, valued at $12,619,054.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the company’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 disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in AAPL. Penserra Capital Management LLC raised its stake in shares of 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 in the last quarter. Delphi Private Advisors LLC raised its stake in shares of 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 in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of Apple during the second quarter worth about $143,000. River & Mercantile Asset Management LLP raised its stake in shares of 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 in the last quarter. Finally, Roble Belko & Company Inc raised its stake in shares of 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 in 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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