J. L. Bainbridge & Co. Inc. decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 354,854 shares of the iPhone maker’s stock after selling 2,607 shares during the period. Apple makes up 10.9% of J. L. Bainbridge & Co. Inc.’s investment portfolio, making the stock its largest holding. J. L. Bainbridge & Co. Inc.’s holdings in Apple were worth $80,105,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Selective Wealth Management acquired a new position in Apple during the third quarter worth about $194,000. Lawson Kroeker Investment Management Inc. NE acquired a new position in Apple during the third quarter worth about $201,000. Boston Standard Wealth Management LLC acquired a new position in Apple during the third quarter worth about $204,000. Leith Wheeler Investment Counsel Ltd. acquired a new position in Apple during the third quarter worth about $201,000. Finally, Moller Financial Services acquired a new position in Apple during the third quarter worth about $226,000. Hedge funds and other institutional investors own 56.28% of the company’s stock.
In related news, Director Arthur D. Levinson sold 1,521 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $167.71, for a total value of $255,086.91. Following the completion of the sale, the director now directly owns 1,134,804 shares in the company, valued at $190,317,978.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.05% of the stock is currently owned by insiders.
A number of equities analysts have issued reports on AAPL shares. Wedbush upgraded shares of Apple to an “outperform” rating and cut their target price for the stock from $310.00 to $275.00 in a research report on Wednesday, November 28th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $228.00 target price on shares of Apple and gave the stock a “buy” rating in a research report on Wednesday, January 30th. Goldman Sachs Group set a $140.00 target price on shares of Apple and gave the stock a “neutral” rating in a research report on Tuesday, February 12th. Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $210.00 in a research report on Monday, March 11th. They noted that the move was a valuation call. Finally, Morgan Stanley restated an “overweight” rating and set a $236.00 target price (down previously from $253.00) on shares of Apple in a research report on Friday, December 7th. One investment analyst has rated the stock with a sell rating, twenty-one have given a hold rating and twenty-five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $193.19.
Apple stock opened at $188.16 on Thursday. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $233.47. The company has a market capitalization of $916.82 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.91 and a beta of 1.13. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.79.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.17 by $0.01. Apple had a net margin of 22.72% and a return on equity of 50.92%. The firm had revenue of $84.31 billion during the quarter, compared to the consensus estimate of $84.07 billion. On average, research analysts predict that Apple Inc. will post 11.38 earnings per share for the current year.
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Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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