Louisiana State Employees Retirement System Trims Position in Apple Inc. (AAPL)

Louisiana State Employees Retirement System lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.6% during the 2nd quarter, Holdings Channel reports. The firm owned 289,300 shares of the iPhone maker’s stock after selling 20,500 shares during the quarter. Apple accounts for about 2.4% of Louisiana State Employees Retirement System’s investment portfolio, making the stock its largest holding. Louisiana State Employees Retirement System’s holdings in Apple were worth $53,552,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in AAPL. Tompkins Financial Corp grew its holdings in Apple by 1.3% in the 2nd quarter. Tompkins Financial Corp now owns 67,656 shares of the iPhone maker’s stock worth $12,523,000 after acquiring an additional 895 shares during the last quarter. Jentner Corp bought a new stake in Apple in the 2nd quarter worth $208,000. Westpac Banking Corp grew its holdings in Apple by 3.7% in the 2nd quarter. Westpac Banking Corp now owns 582,747 shares of the iPhone maker’s stock worth $107,872,000 after acquiring an additional 20,750 shares during the last quarter. Pendal Group Ltd grew its holdings in Apple by 10.7% in the 2nd quarter. Pendal Group Ltd now owns 428,990 shares of the iPhone maker’s stock worth $79,410,000 after acquiring an additional 41,347 shares during the last quarter. Finally, Central Bank & Trust Co. grew its holdings in Apple by 0.8% in the 2nd quarter. Central Bank & Trust Co. now owns 43,616 shares of the iPhone maker’s stock worth $8,073,000 after acquiring an additional 328 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors.

In related news, SVP Angela J. Ahrendts sold 14,194 shares of Apple stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the completion of the transaction, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at approximately $24,058,442.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Arthur D. Levinson sold 20,000 shares of Apple stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $206.58, for a total transaction of $4,131,600.00. Following the transaction, the director now directly owns 1,153,283 shares of the company’s stock, valued at $238,245,202.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 564,185 shares of company stock valued at $124,444,213. 0.06% of the stock is currently owned by corporate insiders.

A number of equities research analysts have issued reports on AAPL shares. Tigress Financial reissued a “buy” rating on shares of Apple in a report on Thursday, August 30th. Robert W. Baird set a $230.00 price target on shares of Apple and gave the stock a “buy” rating in a report on Tuesday, September 4th. New Street Research reissued a “sell” rating on shares of Apple in a report on Tuesday, September 18th. Needham & Company LLC raised their price target on shares of Apple from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 13th. Finally, Bank of America reissued a “buy” rating on shares of Apple in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirty have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $221.63.

Shares of NASDAQ AAPL opened at $222.11 on Friday. Apple Inc. has a 1 year low of $150.24 and a 1 year high of $233.47. The stock has a market cap of $1,109.54 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 1.99 and a beta of 1.36. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The company had revenue of $53.27 billion during the quarter, compared to analysts’ expectations of $52.43 billion. During the same period last year, the company posted $1.67 EPS. Apple’s revenue was up 17.3% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 11.76 earnings per share for the current fiscal year.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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