Apple (NASDAQ:AAPL) Receives “Hold” Rating from Maxim Group

Apple (NASDAQ:AAPL)‘s stock had its “hold” rating reissued by Maxim Group in a report released on Tuesday, Benzinga reports. They currently have a $203.00 target price on the iPhone maker’s stock. Maxim Group’s target price points to a potential downside of 8.11% from the stock’s current price.

A number of other brokerages also recently issued reports on AAPL. Robert W. Baird boosted their price target on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price target on shares of Apple in a research report on Monday. Wedbush reiterated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research note on Monday. Rosenblatt Securities lifted their price objective on shares of Apple from $260.00 to $261.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Bank of America reiterated a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.62.

Apple Stock Up 0.0 %

NASDAQ:AAPL opened at $220.91 on Tuesday. The firm’s 50 day simple moving average is $223.17 and its 200 day simple moving average is $197.62. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple has a one year low of $164.07 and a one year high of $237.23. The company has a market cap of $3.36 trillion, a PE ratio of 34.36, a P/E/G ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 EPS. On average, research analysts anticipate that Apple will post 6.7 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Apple

Several hedge funds and other institutional investors have recently modified their holdings of AAPL. Christopher J. Hasenberg Inc bought a new stake in shares of Apple during the first quarter valued at about $35,000. Fidelis Capital Partners LLC increased 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 valued at $35,000 after buying an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Apple in the fourth quarter worth approximately $39,000. Hershey Financial Advisers LLC bought a new position in shares of Apple in the second quarter worth approximately $42,000. Finally, University of Texas Texas AM Investment Managment Co. increased its position in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

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.