Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by investment analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday. They presently have a $247.00 target price on the iPhone maker’s stock. Morgan Stanley’s price objective would indicate a potential upside of 9.80% from the company’s previous close.

Several other research firms have also weighed in on AAPL. DA Davidson reiterated a “buy” rating and issued a $265.00 price objective (up previously from $230.00) on shares of Apple in a research note on Wednesday, September 5th. DZ Bank reiterated a “buy” rating on shares of Apple in a research note on Monday, September 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $250.00 price objective (up previously from $220.00) on shares of Apple in a research note on Tuesday, September 4th. Cascend Securities upped their price objective on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, September 4th. Finally, Sanford C. Bernstein reiterated a “neutral” rating and issued a $200.00 price objective on shares of Apple in a research note on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirty have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $220.66.

AAPL stock opened at $224.95 on Wednesday. Apple has a 52-week low of $150.24 and a 52-week high of $229.67. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84. The company has a market cap of $1,083.39 billion, a PE ratio of 19.98, a PEG ratio of 1.94 and a beta of 1.33.

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

In related news, Director Arthur D. Levinson sold 20,000 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $206.58, for a total transaction of $4,131,600.00. Following the completion of the sale, the director now directly owns 1,153,283 shares of the company’s stock, valued at approximately $238,245,202.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 378,400 shares of company stock valued at $81,052,754. 0.08% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fort L.P. bought a new stake in Apple in the 2nd quarter valued at $119,000. Delphi Private Advisors LLC bought a new stake in Apple in the 2nd quarter valued at $120,000. Cranbrook Wealth Management LLC boosted its holdings in Apple by 76.1% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock valued at $129,000 after purchasing an additional 302 shares during the period. Quattro Financial Advisors LLC bought a new stake in Apple in the 1st quarter valued at $133,000. Finally, Smart Portfolios LLC bought a new stake in Apple in the 1st quarter valued at $134,000. 58.54% of the stock is owned by institutional investors and hedge funds.

About Apple

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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