Apple Inc. (AAPL) Receives “Buy” Rating from Maxim Group
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating restated by equities research analysts at Maxim Group in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $182.00 price target on the iPhone maker’s stock, up from their previous price target of $180.00. Maxim Group’s price target points to a potential upside of 14.00% from the company’s previous close.
AAPL has been the topic of a number of other research reports. Drexel Hamilton reaffirmed a “buy” rating and set a $202.00 price objective on shares of Apple in a report on Thursday, July 6th. Barclays PLC reaffirmed a “hold” rating and set a $146.00 price objective on shares of Apple in a report on Monday, September 4th. Instinet reaffirmed a “buy” rating and set a $165.00 price objective on shares of Apple in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Apple in a report on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $182.00 price objective on shares of Apple in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $187.63.
Shares of Apple (AAPL) traded down 0.5486% during midday trading on Thursday, hitting $158.7740. 15,731,467 shares of the stock were exchanged. The firm has a 50 day moving average of $158.37 and a 200-day moving average of $149.12. Apple has a one year low of $104.08 and a one year high of $164.94. The company has a market cap of $820.10 billion, a price-to-earnings ratio of 18.0261 and a beta of 1.27.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. Equities analysts expect that Apple will post $9.01 EPS for the current year.
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In other news, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Johny Srouji sold 5,892 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the transaction, the insider now directly owns 70,358 shares in the company, valued at approximately $11,327,638. The disclosure for this sale can be found here. Insiders sold a total of 432,930 shares of company stock worth $69,008,577 in the last three months. Insiders own 0.08% of the company’s stock.
Several large investors have recently modified their holdings of AAPL. Berkshire Hathaway Inc. grew its holdings in shares of Apple by 0.6% during the 2nd quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after purchasing an additional 834,854 shares during the last quarter. Norges Bank bought a new position in shares of Apple during the 4th quarter valued at $5,625,709,000. Capital Research Global Investors grew its holdings in shares of Apple by 15.0% during the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after purchasing an additional 3,845,363 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Apple by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after purchasing an additional 771,046 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Apple by 301.3% during the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after purchasing an additional 15,018,790 shares during the last quarter. 60.45% of the stock is currently owned by hedge funds and other institutional investors.
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.
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