Apple (AAPL) Price Target Raised to $204.00

Apple (NASDAQ:AAPL) had its target price upped by Maxim Group from $193.00 to $204.00 in a research note published on Friday, January 12th, MarketBeat Ratings reports. The firm currently has a buy rating on the iPhone maker’s stock.

AAPL has been the topic of a number of other research reports. ValuEngine raised shares of Apple from a hold rating to a buy rating in a report on Sunday, December 31st. Piper Jaffray Companies reaffirmed a buy rating and issued a $200.00 target price on shares of Apple in a research note on Tuesday, January 2nd. BMO Capital Markets reissued a buy rating and set a $199.00 price objective on shares of Apple in a research note on Wednesday, December 20th. Rosenblatt Securities set a $180.00 price objective on shares of Apple and gave the stock a buy rating in a research note on Tuesday, December 26th. Finally, Wells Fargo & Co reissued a market perform rating and set a $195.00 price objective on shares of Apple in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $200.59.

Apple (NASDAQ:AAPL) traded down $0.80 during mid-day trading on Friday, reaching $178.46. 32,430,000 shares of the company’s stock traded hands, compared to its average volume of 25,680,000. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23. The company has a market capitalization of $916,270.00, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. Apple has a 12 month low of $119.50 and a 12 month high of $180.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 EPS. sell-side analysts expect that Apple will post 11.15 earnings per share for the current fiscal year.

In other news, insider Eduardo H. Cue sold 65,361 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $169.69, for a total value of $2,654,121.29. Following the completion of the transaction, the insider now directly owns 17,341 shares of the company’s stock, valued at approximately $2,942,594.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,412 shares of company stock valued at $22,115,155. Insiders own 0.08% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Apple during the 2nd quarter worth $400,000. Blue Sky Asset Management LLC bought a new position in shares of Apple during the 2nd quarter worth $108,000. FNY Managed Accounts LLC grew its stake in shares of Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 716 shares during the period. Hefty Wealth Partners grew its stake in shares of Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 174 shares during the period. Finally, Armbruster Capital Management Inc. grew its stake in shares of Apple by 9.4% during the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after acquiring an additional 78 shares during the period. 60.19% of the stock is owned by institutional investors.

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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.

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