Apple Inc. (NASDAQ:AAPL) was upgraded by analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage currently has a $135.00 price objective on the iPhone maker’s stock, up from their previous price objective of $125.00. Cowen and Company’s target price points to a potential upside of 25.35% from the company’s previous close.
In related news, COO Jeffrey E. Williams sold 268,644 shares of the firm’s stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $106.91, for a total value of $28,720,730.04. Following the transaction, the chief operating officer now directly owns 528,079 shares of the company’s stock, valued at approximately $56,456,925.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur D. Levinson sold 2,008 shares of the firm’s stock in a transaction dated Tuesday, February 2nd. The shares were sold at an average price of $95.47, for a total transaction of $191,703.76. Following the completion of the transaction, the director now directly owns 1,133,283 shares in the company, valued at $108,194,528.01. The disclosure for this sale can be found here.
Source: American Banking and Market News