Apple Inc. (NASDAQ:AAPL) had its target price upped by Canaccord Genuity from $120.00 to $140.00 in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the iPhone maker’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 23.26% from the stock’s previous close.

Several other research analysts also recently issued reports on the company. Piper Jaffray Cos. restated a “buy” rating and set a $153.00 price objective on shares of Apple in a research report on Sunday, May 22nd. Nomura restated a “buy” rating and set a $120.00 price objective on shares of Apple in a research report on Monday, May 23rd. Brean Capital restated a “buy” rating on shares of Apple in a research report on Tuesday, May 24th. Pacific Crest upgraded Apple to a “buy” rating in a research report on Tuesday, May 24th. Finally, BMO Capital Markets restated a “buy” rating and set a $117.00 price objective on shares of Apple in a research report on Tuesday, May 24th. Four investment 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 given a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus price target of $126.49.

Apple (NASDAQ:AAPL) opened at 113.58 on Friday. The firm has a market capitalization of $612.02 billion, a PE ratio of 13.24 and a beta of 1.14. Apple has a 1-year low of $89.47 and a 1-year high of $123.82. The firm’s 50-day moving average price is $108.13 and its 200-day moving average price is $102.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. During the same period last year, the firm earned $1.85 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities research analysts predict that Apple will post $8.26 EPS for the current fiscal year.

In other Apple news, CEO Timothy D. Cook sold 110,000 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $106.84, for a total transaction of $11,752,400.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the firm’s stock in a transaction 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. Company insiders own 0.08% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC boosted its position 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 valued at $103,000 after buying an additional 304 shares during the period. Delphi Private Advisors LLC boosted its position 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 valued at $140,000 after buying an additional 69 shares during the period. Hussman Strategic Advisors Inc. bought a new position in shares of Apple during the second quarter valued at $143,000. River & Mercantile Asset Management LLP boosted its position 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 valued at $172,000 after buying an additional 334 shares during the period. Finally, Roble Belko & Company Inc boosted its position 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 valued at $172,000 after buying an additional 680 shares during the period. Institutional investors and hedge funds own 56.52% of the company’s stock.

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

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.