Smithbridge Asset Management Inc. DE cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,157 shares of the iPhone maker’s stock after selling 1,235 shares during the period. Apple accounts for about 4.3% of Smithbridge Asset Management Inc. DE’s portfolio, making the stock its biggest position. Smithbridge Asset Management Inc. DE’s holdings in Apple were worth $6,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Tompkins Financial Corp grew its stake in shares of Apple by 1.3% during the second quarter. Tompkins Financial Corp now owns 67,656 shares of the iPhone maker’s stock valued at $12,523,000 after buying an additional 895 shares during the last quarter. Jentner Corp bought a new position in shares of Apple during the second quarter valued at approximately $208,000. Westpac Banking Corp grew its stake in shares of Apple by 3.7% during the second quarter. Westpac Banking Corp now owns 582,747 shares of the iPhone maker’s stock valued at $107,872,000 after buying an additional 20,750 shares during the last quarter. Pendal Group Ltd grew its stake in shares of Apple by 10.7% during the second quarter. Pendal Group Ltd now owns 428,990 shares of the iPhone maker’s stock valued at $79,410,000 after buying an additional 41,347 shares during the last quarter. Finally, Central Bank & Trust Co. grew its stake in shares of Apple by 0.8% during the second quarter. Central Bank & Trust Co. now owns 43,616 shares of the iPhone maker’s stock valued at $8,073,000 after buying an additional 328 shares during the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.
Apple stock opened at $222.11 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1,109.54 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 1.99 and a beta of 1.36. Apple Inc. has a twelve month low of $150.24 and a twelve month high of $233.47.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.16. The company had revenue of $53.27 billion during the quarter, compared to analyst estimates of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. Apple’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share. Analysts anticipate that Apple Inc. will post 11.76 earnings per share for the current fiscal year.
A number of research firms have recently commented on AAPL. BTIG Research raised Apple to a “buy” rating and upped their target price for the company from $207.00 to $235.00 in a research note on Wednesday, August 1st. Macquarie set a $214.00 target price on Apple and gave the company a “buy” rating in a research note on Wednesday, August 15th. Morgan Stanley reaffirmed a “buy” rating and set a $232.00 target price on shares of Apple in a research note on Wednesday, August 22nd. S&P Equity Research upped their target price on Apple to $250.00 and gave the company an “in-line” rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Finally, UBS Group began coverage on Apple in a research note on Wednesday, September 12th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirty have given a buy rating to the company. Apple has an average rating of “Buy” and an average target price of $221.63.
In other Apple news, SVP Angela J. Ahrendts sold 14,194 shares of the company’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the completion of the sale, the senior vice president now owns 105,538 shares in the company, valued at $24,058,442.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total value of $5,816,500.00. Following the sale, the senior vice president now owns 105,538 shares of the company’s stock, valued at approximately $24,554,471.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 564,185 shares of company stock valued at $124,444,213. 0.06% of the stock is owned by company insiders.
Apple Company Profile
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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