Apple Inc. (AAPL) Earns “Buy” Rating from Maxim Group
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by equities researchers at Maxim Group in a report issued on Friday. They presently have a $182.00 price target on the iPhone maker’s stock. Maxim Group’s price target would indicate a potential upside of 16.61% from the stock’s previous close.
AAPL has been the topic of a number of other reports. Vetr raised shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 target price on the stock in a research note on Friday. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $170.00 target price on shares of Apple in a research note on Wednesday, June 21st. Nomura reaffirmed a “buy” rating and issued a $165.00 target price on shares of Apple in a research note on Wednesday, July 5th. UBS AG reaffirmed a “buy” rating and issued a $170.00 target price on shares of Apple in a research note on Wednesday, May 31st. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $202.00 target price on shares of Apple in a research note on Tuesday, June 6th. Ten equities research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $188.37.
Shares of Apple (NASDAQ:AAPL) traded down 1.28% during trading on Friday, hitting $151.43. 34,050,057 shares of the stock traded hands. The company has a market cap of $782.17 billion, a P/E ratio of 17.19 and a beta of 1.27. The stock has a 50-day moving average of $159.51 and a 200 day moving average of $149.86. Apple has a 1-year low of $104.08 and a 1-year high of $164.94. Apple also was the recipient of unusually large options trading activity on Wednesday. Investors purchased 174,155 put options on the company. This is an increase of 102% compared to the average volume of 86,200 put options.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same period in the prior year, the firm posted $1.42 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts predict that Apple will post $9.01 EPS for the current fiscal year.
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In related news, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the sale, the director now directly owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 432,930 shares of company stock valued at $69,008,577. Company insiders own 0.08% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AAPL. Janus Henderson Group PLC grew its holdings in Apple by 301.3% during the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after acquiring an additional 15,018,790 shares during the period. Harbour Capital Advisors LLC grew its holdings in Apple by 14,030.2% during the second quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock worth $31,352,000 after acquiring an additional 4,483,360 shares during the period. Capital Research Global Investors grew its holdings in Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after acquiring an additional 3,845,363 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Apple by 200.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,765,574 shares of the iPhone maker’s stock worth $686,338,000 after acquiring an additional 3,178,809 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Apple by 25.3% during the second quarter. Principal Financial Group Inc. now owns 10,582,632 shares of the iPhone maker’s stock worth $1,524,110,000 after acquiring an additional 2,138,928 shares during the period. 60.35% 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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