Apple (NASDAQ:AAPL) Now Covered by Maxim Group

Equities researchers at Maxim Group began coverage on shares of Apple (NASDAQ:AAPL) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set a “hold” rating and a $178.00 price target on the iPhone maker’s stock. Maxim Group’s price objective suggests a potential upside of 6.56% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Loop Capital decreased their price target on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Redburn Partners cut Apple to a “neutral” rating and set a $200.00 price target on the stock. in a research report on Wednesday, January 10th. DA Davidson began coverage on Apple in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 price target on the stock. Monness Crespi & Hardt upped their price objective on shares of Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $189.00 price objective on shares of Apple in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $203.34.

Apple Price Performance

NASDAQ AAPL opened at $167.04 on Wednesday. The company has a market cap of $2.58 trillion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. 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 firm’s 50-day simple moving average is $175.15 and its two-hundred day simple moving average is $182.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Research analysts predict that Apple will post 6.54 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on 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 sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on 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 sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock valued at $63,653,887 over the last quarter. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apple

Institutional investors have recently added to or reduced their stakes in the company. Atlantic Private Wealth LLC bought a new position in Apple in the first quarter worth $30,000. Wyrmwood Management LLC increased its holdings in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Apple during the fourth quarter valued at $39,000. Gilfoyle & Co LLC increased its holdings in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. Finally, Summit Wealth Group LLC increased its holdings in shares of Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 6,949,659 shares in the last quarter. Institutional investors 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.