Apple (NASDAQ:AAPL) had its price target increased by Morgan Stanley from $245.00 to $247.00 in a report published on Thursday morning. The brokerage currently has an overweight rating on the iPhone maker’s stock.

AAPL has been the topic of a number of other research reports. BidaskClub lowered Apple from a buy rating to a hold rating in a research note on Friday, June 8th. Wells Fargo & Co restated a neutral rating and set a $210.00 price objective on shares of Apple in a report on Friday, August 10th. Bank of America upped their price objective on Apple from $250.00 to $256.00 and gave the stock a buy rating in a report on Monday, September 10th. BMO Capital Markets upped their price objective on Apple from $171.00 to $184.00 and gave the stock a market perform rating in a report on Monday, July 23rd. Finally, Royal Bank of Canada upped their price objective on Apple to $240.00 and gave the stock an outperform rating in a report on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty have assigned a buy rating to the company’s stock. Apple presently has an average rating of Buy and a consensus price target of $217.53.

Shares of Apple stock opened at $223.84 on Thursday. Apple has a fifty-two week low of $149.16 and a fifty-two week high of $229.67. The firm has a market cap of $1,086.59 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.16. Apple had a return on equity of 43.50% and a net margin of 21.98%. The company had revenue of $53.27 billion for the quarter, compared to analyst estimates of $52.43 billion. During the same quarter in the prior year, the company posted $1.67 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. analysts expect that Apple will post 11.76 earnings per share for the current fiscal year.

In related news, Director Arthur D. Levinson sold 20,000 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $206.58, for a total value of $4,131,600.00. Following the completion of the sale, the director now directly owns 1,153,283 shares in the company, valued at approximately $238,245,202.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 15,652 shares of the firm’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $190.18, for a total value of $2,976,697.36. Following the sale, the chief operating officer now owns 125,258 shares of the company’s stock, valued at $23,821,566.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 378,400 shares of company stock valued at $81,052,754. 0.08% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in AAPL. PICTET BANK & TRUST Ltd lifted its position in shares of Apple by 0.5% during the second quarter. PICTET BANK & TRUST Ltd now owns 45,134 shares of the iPhone maker’s stock worth $8,355,000 after purchasing an additional 240 shares during the last quarter. Somerset Group LLC lifted its position in shares of Apple by 2.4% during the second quarter. Somerset Group LLC now owns 10,683 shares of the iPhone maker’s stock worth $1,978,000 after purchasing an additional 249 shares during the last quarter. Wsfs Capital Management LLC lifted its position in shares of Apple by 2.0% during the second quarter. Wsfs Capital Management LLC now owns 13,051 shares of the iPhone maker’s stock worth $2,416,000 after purchasing an additional 260 shares during the last quarter. Investment Partners LTD. lifted its position in shares of Apple by 4.9% during the second quarter. Investment Partners LTD. now owns 5,594 shares of the iPhone maker’s stock worth $1,036,000 after purchasing an additional 263 shares during the last quarter. Finally, Keating Investment Counselors Inc. lifted its position in shares of Apple by 8.2% during the second quarter. Keating Investment Counselors Inc. now owns 3,511 shares of the iPhone maker’s stock worth $650,000 after purchasing an additional 266 shares during the last quarter. Institutional investors own 58.62% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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