Apple (NASDAQ:AAPL) PT Raised to $195.00 at Maxim Group

Apple (NASDAQ:AAPL) had its target price upped by Maxim Group from $178.00 to $195.00 in a research report sent to investors on Tuesday morning, MarketBeat.com reports. They currently have a hold rating on the iPhone maker’s stock.

Several other research analysts have also weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Apple from $200.00 to $215.00 and gave the stock a buy rating in a research note on Friday, May 3rd. UBS Group reaffirmed a neutral rating and set a $190.00 target price on shares of Apple in a research note on Tuesday, June 11th. Tigress Financial raised their price objective on shares of Apple from $240.00 to $245.00 and gave the company a strong-buy rating in a research note on Thursday, May 30th. Bank of America reissued a buy rating and issued a $230.00 price objective on shares of Apple in a research note on Wednesday, June 12th. Finally, Melius Research raised their price objective on shares of Apple from $227.00 to $260.00 and gave the company a buy rating in a research note on Monday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $214.29.

Apple Stock Performance

NASDAQ:AAPL opened at $214.10 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The company has a fifty day moving average of $190.27 and a two-hundred day moving average of $185.14. The stock has a market capitalization of $3.28 trillion, a PE ratio of 33.18, a P/E/G ratio of 2.54 and a beta of 1.25. Apple has a fifty-two week low of $164.07 and a fifty-two week high of $220.20.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 earnings per share. As a group, research analysts forecast that Apple will post 6.58 earnings per share for the current fiscal year.

Apple announced that its board has authorized a share repurchase program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.47%. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apple

Hedge funds have recently added to or reduced their stakes in the stock. Wyrmwood Management LLC lifted its stake in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. Christopher J. Hasenberg Inc acquired a new position in shares of Apple during the first quarter valued at $35,000. 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 purchasing an additional 118 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new position in Apple during the fourth quarter worth about $39,000. Finally, University of Texas Texas AM Investment Managment Co. grew its holdings in Apple by 657.1% during 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 acquiring an additional 368 shares during the period. 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.