Apple (NASDAQ:AAPL) Now Covered by Analysts at Maxim Group

Stock analysts at Maxim Group assumed coverage on shares of Apple (NASDAQ:AAPL) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a “hold” rating and a $178.00 price target on the iPhone maker’s stock. Maxim Group’s target price suggests a potential upside of 6.56% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Rosenblatt Securities restated a “neutral” rating and set a $189.00 price objective on shares of Apple in a report on Tuesday, March 5th. Citigroup reiterated a “buy” rating and issued a $225.00 target price on shares of Apple in a report on Friday, February 16th. DA Davidson started coverage on Apple in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 target price for the company. Monness Crespi & Hardt upped their target price on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Redburn Partners cut Apple to a “neutral” rating and set a $200.00 target price for the company. in a report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $203.34.

Apple Price Performance

AAPL opened at $167.04 on Wednesday. The business has a fifty day moving average of $175.15 and a 200 day moving average of $182.10. Apple has a 52-week low of $162.80 and a 52-week high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The stock has a market cap of $2.58 trillion, a P/E ratio of 26.02, a PEG ratio of 2.04 and a beta of 1.27.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter in the previous year, the business earned $1.88 EPS. Apple’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple will post 6.54 EPS for the current year.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Total Wealth Planning LLC raised its position in Apple by 2.3% during the first quarter. Total Wealth Planning LLC now owns 5,338 shares of the iPhone maker’s stock valued at $915,000 after acquiring an additional 121 shares in the last quarter. Tower Wealth Partners Inc. raised its position in Apple by 15.9% during the first quarter. Tower Wealth Partners Inc. now owns 10,721 shares of the iPhone maker’s stock valued at $1,838,000 after acquiring an additional 1,469 shares in the last quarter. Plimoth Trust Co. LLC raised its position in Apple by 0.3% during the first quarter. Plimoth Trust Co. LLC now owns 114,713 shares of the iPhone maker’s stock valued at $19,671,000 after acquiring an additional 339 shares in the last quarter. Summit Investment Advisory Services LLC raised its position in Apple by 56.1% during the first quarter. Summit Investment Advisory Services LLC now owns 1,842 shares of the iPhone maker’s stock valued at $316,000 after acquiring an additional 662 shares in the last quarter. Finally, MBM Wealth Consultants LLC raised its position in Apple by 4.5% during the first quarter. MBM Wealth Consultants LLC now owns 13,278 shares of the iPhone maker’s stock valued at $2,277,000 after acquiring an additional 575 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Company Profile

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.