Apple (AAPL) Gets a Hold Rating from Wells Fargo

By Austin Angelo

Wells Fargo analyst Aaron Rakers maintained a Hold rating on Apple (NASDAQ: AAPL) on September 13 and set a price target of $210. The company’s shares closed on Friday at $223.84, close to its 52-week high of $229.67.

According to TipRanks.com, Rakers is a 5-star analyst with an average return of 17.1% and a 63.7% success rate. Rakers covers the Consumer Goods sector, focusing on stocks such as Arris Group, Micron, and NetApp.

Apple has an analyst consensus of Moderate Buy, with a price target consensus of $230.24, a 2.9% upside from current levels. In a report issued on August 31, Nomura also maintained a Hold rating on the stock with a $210 price target.

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Based on Apple’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $53.43 billion and net profit of $11.52 billion. In comparison, last year the company earned revenue of $45.26 billion and had a net profit of $8.72 billion.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. Last month, Arthur Levinson, a Director at AAPL sold 35,000 shares for a total of $7,236,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.