Bridges Investment Counsel Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 70.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,677 shares of the iPhone maker’s stock after selling 96,080 shares during the period. Apple accounts for approximately 3.5% of Bridges Investment Counsel Inc.’s holdings, making the stock its 4th biggest holding. Bridges Investment Counsel Inc.’s holdings in Apple were worth $6,269,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in AAPL. Blue Sky Asset Management LLC bought a new stake in shares of Apple during the 2nd quarter valued at about $108,000. Hefty Wealth Partners lifted its holdings in Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares in the last quarter. FNY Managed Accounts LLC lifted its holdings in Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares in the last quarter. Private Vista LLC purchased a new position in Apple in the 2nd quarter worth approximately $122,000. Finally, Armbruster Capital Management Inc. lifted its holdings in Apple by 9.4% in the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after purchasing an additional 78 shares in the last quarter. 60.17% of the stock is owned by institutional investors and hedge funds.
Shares of Apple Inc. (NASDAQ AAPL) traded up $0.99 during trading hours on Thursday, reaching $175.28. The company had a trading volume of 18,666,155 shares, compared to its average volume of 26,940,000. Apple Inc. has a 1 year low of $118.21 and a 1 year high of $177.20. The company has a market capitalization of $899,940.00, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.
Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.50 earnings per share. equities analysts predict that Apple Inc. will post 11.18 earnings per share for the current fiscal year.
In other Apple news, insider Eduardo H. Cue sold 65,361 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the transaction, the insider now owns 13,739 shares in the company, valued at $2,401,302.42. The disclosure for this sale can be found here. Insiders sold 128,412 shares of company stock worth $22,115,155 in the last ninety days. 0.06% of the stock is owned by corporate insiders.
Several analysts have recently issued reports on the company. Zacks Investment Research cut Apple from a “buy” rating to a “hold” rating in a report on Monday. UBS Group set a $190.00 price objective on Apple and gave the stock a “buy” rating in a report on Friday, January 5th. Bank of America restated a “buy” rating and set a $180.00 price target on shares of Apple in a report on Tuesday, September 26th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of Apple in a research report on Thursday, September 21st. Finally, Barclays set a $162.00 price objective on Apple and gave the company a “neutral” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $198.70.
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Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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