AAPL Stock: Apple’s Buy Rating Reiterated at Maxim Group

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Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by equities research analysts at Maxim Group in a research note issued on Thursday, November 2nd. They currently have a $193.00 price objective on the iPhone maker’s stock. Maxim Group’s price objective would indicate a potential upside of 13.74% from the stock’s previous close.

The analysts wrote, “No mystery with Sept Q results to be reported; expect in-line Q. Given supply chain data points that suggest only 30M iPhone X will be shipped within the Dec Q, shifting 25M iPhone units from Dec Q to C1H18. Supply chain data points and 6 week lead times indicate 16M iPhone X were ordered over the first weekend, which we believe is consistent with iPhone 6/6+ first weekend. GM upside from iPhone X may not be apparent from Dec Q guidance due to purported initial assembly yield issues.””

AAPL has been the subject of a number of other research reports. Vetr upgraded shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price objective for the company in a research note on Friday, September 22nd. Rosenblatt Securities reiterated a “hold” rating and set a $150.00 target price on shares of Apple in a research report on Sunday, October 15th. Nomura reiterated a “buy” rating and set a $165.00 target price on shares of Apple in a research report on Wednesday, July 5th. Bank of America Corporation reiterated a “buy” rating and set a $180.00 target price on shares of Apple in a research report on Tuesday, September 26th. Finally, Pacific Crest upgraded shares of Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 target price for the company in a research report on Monday, October 16th. Seven research analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the stock. Apple currently has an average rating of “Buy” and an average price target of $200.24.

Shares of Apple (NASDAQ AAPL) traded down $0.46 during mid-day trading on Thursday, hitting $169.69. 7,688,755 shares of the stock were exchanged, compared to its average volume of 27,215,213. Apple has a 52 week low of $108.25 and a 52 week high of $176.24. The firm has a market cap of $871,450.00, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.36 and a beta of 1.25. 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 (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The company had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter in the prior year, the company posted $1.50 EPS. The business’s revenue was up 12.2% on a year-over-year basis. research analysts forecast that Apple will post 11.18 EPS for the current year.

In other Apple news, insider Johny Srouji sold 5,892 shares of Apple stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the transaction, the insider now directly owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $172.35, for a total value of $2,695,726.35. Following the completion of the transaction, the insider now directly owns 39,682 shares in the company, valued at $6,839,192.70. The disclosure for this sale can be found here. Insiders sold a total of 410,352 shares of company stock worth $65,356,512 over the last ninety days. Insiders own 0.08% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Stone House Investment Management LLC grew its position in shares of Apple by 0.4% in the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after buying an additional 6 shares during the last quarter. FC Advisory LLC grew its position in shares of Apple by 0.4% in the 2nd quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock worth $371,000 after buying an additional 10 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in shares of Apple by 0.3% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after purchasing an additional 17 shares in the last quarter. Lenox Wealth Advisors Inc. boosted its position in shares of Apple by 0.4% during the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after purchasing an additional 20 shares in the last quarter. Finally, BerganKDV Wealth Management LLC boosted its position in shares of Apple by 0.4% during the second quarter. BerganKDV Wealth Management LLC now owns 5,614 shares of the iPhone maker’s stock valued at $809,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 59.87% of the company’s stock.

About Apple

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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

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