Apple (NASDAQ:AAPL) PT Raised to $195.00 at Maxim Group

Apple (NASDAQ:AAPL) had its target price hoisted by analysts at Maxim Group from $178.00 to $195.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm presently has a “hold” rating on the iPhone maker’s stock. Maxim Group’s price target suggests a potential downside of 8.56% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Melius Research upped their price target on Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. upped their price target on Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. DZ Bank restated a “hold” rating and set a $180.00 price target on shares of Apple in a research note on Thursday, March 28th. Finally, Monness Crespi & Hardt restated a “buy” rating and set a $205.00 price target on shares of Apple in a research note on Thursday, June 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $214.29.

Apple Stock Performance

NASDAQ AAPL opened at $213.25 on Tuesday. The business’s 50-day moving average price is $189.37 and its 200 day moving average price is $184.94. Apple has a twelve month low of $164.07 and a twelve month high of $220.20. The company has a market capitalization of $3.27 trillion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.54 and a beta of 1.25. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts predict that Apple will post 6.58 earnings per share for the current year.

Apple declared that its board has initiated a share buyback plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock worth $60,880,196 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Wyrmwood Management LLC raised its stake in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Christopher J. Hasenberg Inc acquired a new stake in shares of Apple during the first quarter worth $35,000. Fidelis Capital Partners LLC raised its position in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple during the fourth quarter worth $39,000. Finally, Gilfoyle & Co LLC raised its position in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.