Apple (AAPL) Price Target Raised to $204.00 at Maxim Group

Apple (NASDAQ:AAPL) had its price objective boosted by Maxim Group from $193.00 to $204.00 in a research note released on Friday morning, MarketBeat reports. The firm currently has a buy rating on the iPhone maker’s stock.

Other analysts have also issued reports about the stock. Vetr upgraded shares of Apple from a buy rating to a strong-buy rating and set a $173.06 target price for the company in a report on Friday, September 22nd. Rosenblatt Securities reiterated a hold rating and set a $150.00 target price on shares of Apple in a report on Sunday, October 15th. Citigroup reiterated a buy rating and set a $200.00 target price (up from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. UBS Group set a $190.00 target price on shares of Apple and gave the stock a buy rating in a report on Monday, December 4th. Finally, Bank of America reiterated a buy rating and set a $180.00 target price on shares of Apple in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Apple currently has a consensus rating of Buy and an average target price of $198.94.

Apple (NASDAQ AAPL) traded up $1.81 during midday trading on Friday, reaching $177.09. 25,299,298 shares of the company’s stock traded hands, compared to its average volume of 23,484,313. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. Apple has a twelve month low of $118.22 and a twelve month high of $177.36. The stock has a market capitalization of $909,240.00, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.45 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. equities analysts expect that Apple will post 11.18 earnings per share for the current year.

In other news, insider Eduardo H. Cue sold 65,361 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total transaction of $11,215,947.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $169.69, for a total transaction of $2,654,121.29. Following the sale, the insider now owns 17,341 shares in the company, valued at approximately $2,942,594.29. The disclosure for this sale can be found here. Insiders have sold 128,412 shares of company stock valued at $22,115,155 in the last ninety days. Insiders own 0.06% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Blue Sky Asset Management LLC purchased a new stake in Apple in the second quarter worth approximately $108,000. Hefty Wealth Partners boosted its holdings in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares during the last quarter. FNY Managed Accounts LLC boosted its holdings in Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares during the last quarter. Private Vista LLC purchased a new stake in Apple in the second quarter worth approximately $122,000. Finally, Armbruster Capital Management Inc. boosted its holdings in Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 60.19% of the company’s stock.

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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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