Field & Main Bank decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,652 shares of the iPhone maker’s stock after selling 993 shares during the quarter. Apple makes up 4.7% of Field & Main Bank’s investment portfolio, making the stock its biggest holding. Field & Main Bank’s holdings in Apple were worth $4,808,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of AAPL. Spectrum Management Group Inc. lifted its holdings in Apple by 8.3% in the third quarter. Spectrum Management Group Inc. now owns 18,814 shares of the iPhone maker’s stock valued at $2,900,000 after buying an additional 1,447 shares during the period. Pictet North America Advisors SA lifted its holdings in Apple by 1.6% in the third quarter. Pictet North America Advisors SA now owns 249,495 shares of the iPhone maker’s stock valued at $38,452,000 after buying an additional 3,857 shares during the period. Check Capital Management Inc. CA lifted its holdings in Apple by 100.0% in the third quarter. Check Capital Management Inc. CA now owns 18,680 shares of the iPhone maker’s stock valued at $2,879,000 after buying an additional 9,340 shares during the period. Columbia Partners L L C Investment Management lifted its holdings in Apple by 6.0% in the third quarter. Columbia Partners L L C Investment Management now owns 167,696 shares of the iPhone maker’s stock valued at $25,845,000 after buying an additional 9,464 shares during the period. Finally, Cipher Capital LP acquired a new position in Apple in the third quarter valued at $1,763,000. 58.07% of the stock is currently owned by institutional investors.
In related news, insider Angela J. Ahrendts sold 6,568 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $188.81, for a total transaction of $1,240,104.08. Following the sale, the insider now directly owns 79,476 shares in the company, valued at approximately $15,005,863.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela J. Ahrendts sold 38,228 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $176.54, for a total transaction of $6,748,771.12. Following the sale, the insider now owns 90,967 shares in the company, valued at $16,059,314.18. The disclosure for this sale can be found here. Insiders have sold a total of 279,074 shares of company stock worth $49,607,454 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.
Shares of AAPL stock opened at $185.11 on Friday. The company has a market cap of $941.23 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 1.53 and a beta of 1.29. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.37 and a current ratio of 1.46. Apple Inc. has a 12 month low of $142.41 and a 12 month high of $194.20.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 EPS for the quarter, beating the Zacks’ consensus estimate of $2.69 by $0.04. The company had revenue of $61.14 billion for the quarter, compared to analysts’ expectations of $60.94 billion. Apple had a net margin of 21.55% and a return on equity of 39.97%. Apple’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 EPS. research analysts forecast that Apple Inc. will post 11.42 EPS for the current year.
Apple announced that its board has initiated a stock buyback program on Tuesday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 11.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts recently issued reports on the stock. UBS Group set a $210.00 target price on shares of Apple and gave the company a “buy” rating in a report on Thursday, June 7th. Goldman Sachs Group reiterated a “neutral” rating and set a $164.00 price objective on shares of Apple in a report on Tuesday, June 5th. Argus upped their price objective on shares of Apple from $210.00 to $225.00 and gave the company a “buy” rating in a report on Friday, June 8th. Royal Bank of Canada upped their price objective on shares of Apple from $203.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, June 5th. Finally, BidaskClub lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, June 8th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $207.20.
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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