Lowe Wealth Advisors LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,572 shares of the iPhone maker’s stock after selling 56 shares during the quarter. Apple accounts for about 0.3% of Lowe Wealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Lowe Wealth Advisors LLC’s holdings in Apple were worth $462,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Kahn Brothers Group Inc. DE bought a new position in shares of Apple during the 3rd quarter worth approximately $112,000. Fulcrum Equity Management acquired a new stake in Apple in the 3rd quarter valued at $135,000. Belvedere Advisors LLC acquired a new stake in Apple in the 2nd quarter valued at $119,000. Smart Portfolios LLC bought a new stake in Apple in the third quarter valued at $208,000. Finally, TPG Financial Advisors LLC bought a new stake in Apple in the fourth quarter valued at $238,000. Institutional investors own 59.94% of the company’s stock.
A number of brokerages have issued reports on AAPL. Canaccord Genuity raised Apple to a “buy” rating and lifted their price objective for the company from $275.00 to $355.00 in a report on Tuesday. Deutsche Bank upped their target price on shares of Apple from $210.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. They noted that the move was a valuation call. Macquarie cut shares of Apple from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Longbow Research upgraded shares of Apple from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Thursday, October 10th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $275.00 price target (up from $221.00) on shares of Apple in a report on Friday, January 10th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $274.36.
In other Apple news, Director Arthur D. Levinson sold 37,394 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the completion of the sale, the director now directly owns 1,170,677 shares of the company’s stock, valued at approximately $301,788,823.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.
Shares of AAPL opened at $311.34 on Thursday. The firm has a market capitalization of $1,370.80 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.26 and a beta of 1.25. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.50 and a current ratio of 1.54. The business’s fifty day moving average price is $284.56 and its two-hundred day moving average price is $238.26. Apple Inc. has a 52 week low of $150.05 and a 52 week high of $317.57.
Apple (NASDAQ:AAPL) last released its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.19. Apple had a return on equity of 53.82% and a net margin of 21.24%. The company had revenue of $64.04 billion during the quarter, compared to the consensus estimate of $62.86 billion. During the same quarter in the previous year, the company posted $2.91 earnings per share. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 13.15 EPS for the current year.
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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