Apple (AAPL) Given New $204.00 Price Target at Maxim Group
Apple (NASDAQ:AAPL) had its price target lifted by equities research analysts at Maxim Group from $193.00 to $204.00 in a note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the iPhone maker’s stock. Maxim Group’s price target would suggest a potential upside of 15.20% from the company’s current price.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. UBS Group set a $190.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Friday, January 5th. Barclays set a $162.00 target price on shares of Apple and gave the company a “neutral” rating in a research note on Wednesday, January 3rd. Piper Jaffray Companies reissued a “buy” rating and issued a $200.00 target price on shares of Apple in a research note on Tuesday, January 2nd. Finally, Rosenblatt Securities set a $180.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Monday, January 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $198.94.
Apple (NASDAQ AAPL) traded up $1.81 during midday trading on Friday, reaching $177.09. 25,226,000 shares of the company were exchanged, compared to its average volume of 26,680,000. The company has a market capitalization of $909,240.00, a PE ratio of 19.27, a P/E/G ratio of 1.43 and a beta of 1.23. Apple has a twelve month low of $118.22 and a twelve month high of $177.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 earnings per share. equities analysts predict that Apple will post 11.18 EPS for the current year.
In other news, SVP Johny Srouji sold 5,760 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the transaction, the senior vice president now directly owns 81,560 shares in the company, valued at $14,224,064. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $169.69, for a total transaction of $2,654,121.29. Following the transaction, the insider now owns 17,341 shares in the company, valued at $2,942,594.29. The disclosure for this sale can be found here. Insiders have sold 128,412 shares of company stock worth $22,115,155 over the last quarter. 0.08% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Private Asset Management Inc. raised its stake in shares of Apple by 3.1% during the second quarter. Private Asset Management Inc. now owns 111,271 shares of the iPhone maker’s stock worth $16,025,000 after buying an additional 3,333 shares during the last quarter. Hefty Wealth Partners raised its stake in shares of Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares during the last quarter. First PREMIER Bank increased its stake in Apple by 3.5% in the second quarter. First PREMIER Bank now owns 18,481 shares of the iPhone maker’s stock valued at $2,662,000 after purchasing an additional 626 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services increased its stake in Apple by 18.1% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 32,221 shares of the iPhone maker’s stock valued at $4,640,000 after purchasing an additional 4,947 shares in the last quarter. Finally, Pioneer Trust Bank N A OR increased its stake in Apple by 1.1% in the second quarter. Pioneer Trust Bank N A OR now owns 54,959 shares of the iPhone maker’s stock valued at $7,915,000 after purchasing an additional 580 shares in the last quarter. Institutional investors own 60.17% of the company’s stock.
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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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