Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating restated by equities research analysts at Macquarie in a report released on Wednesday. They currently have a $132.00 target price on the iPhone maker’s stock. Macquarie’s price target indicates a potential upside of 11.63% from the stock’s previous close.

AAPL has been the subject of several other research reports. Drexel Hamilton reissued a “buy” rating and issued a $185.00 price objective on shares of Apple in a report on Wednesday, September 14th. Piper Jaffray Cos. raised Apple to an “overweight” rating and set a $151.00 price objective for the company in a report on Friday, September 16th. Morgan Stanley reissued an “overweight” rating and issued a $124.00 price objective on shares of Apple in a report on Friday, October 14th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $124.00 price objective on shares of Apple in a report on Monday. Finally, Canaccord Genuity reissued a “buy” rating and issued a $140.00 price objective (up previously from $120.00) on shares of Apple in a report on Monday, September 12th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $128.93.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Shares of Apple (NASDAQ:AAPL) traded down 2.423% on Wednesday, reaching $115.385. 42,803,146 shares of the company’s stock traded hands. The company’s 50-day moving average is $113.50 and its 200-day moving average is $103.96. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The firm has a market capitalization of $621.75 billion, a P/E ratio of 13.454 and a beta of 1.22.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.01. The company earned $46.85 billion during the quarter, compared to analysts’ expectations of $46.88 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period last year, the business earned $1.96 EPS. Equities research analysts anticipate that Apple will post $8.27 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Monday, November 7th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.93%. Apple’s dividend payout ratio (DPR) is presently 26.64%.

In other news, Director Arthur D. Levinson sold 70,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $108.68, for a total value of $7,607,600.00. Following the completion of the sale, the director now directly owns 1,203,283 shares of the company’s stock, valued at $130,772,796.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP D Bruce Sewell sold 23,305 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $107.49, for a total transaction of $2,505,054.45. Following the completion of the sale, the senior vice president now directly owns 239,329 shares of the company’s stock, valued at $25,725,474.21. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Apple by 0.4% in the second quarter. Vanguard Group Inc. now owns 331,395,817 shares of the iPhone maker’s stock worth $31,681,440,000 after buying an additional 1,408,642 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Apple by 1.6% in the second quarter. BlackRock Group LTD now owns 48,083,386 shares of the iPhone maker’s stock worth $4,596,772,000 after buying an additional 759,339 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock worth $3,991,635,000 after buying an additional 301,502 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Apple by 2.6% in the second quarter. Legal & General Group Plc now owns 24,474,691 shares of the iPhone maker’s stock worth $2,339,700,000 after buying an additional 625,760 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its stake in shares of Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock worth $999,482,000 after buying an additional 22,303,795 shares during the last quarter. 56.44% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:AAPL

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.