Jensen Investment Management Inc. Sells 42,431 Shares of Apple Inc. (AAPL)

Jensen Investment Management Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,251,319 shares of the iPhone maker’s stock after selling 42,431 shares during the quarter. Apple makes up about 3.1% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 16th largest holding. Jensen Investment Management Inc.’s holdings in Apple were worth $231,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Trail Advisors LLC lifted its holdings in shares of Apple by 17,669.4% in the first quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after buying an additional 20,067,124 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Apple by 1.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 19,610,272 shares of the iPhone maker’s stock worth $3,290,212,000 after buying an additional 347,970 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Apple by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 16,158,094 shares of the iPhone maker’s stock worth $2,711,005,000 after buying an additional 55,050 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Apple by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,977,515 shares of the iPhone maker’s stock worth $2,680,707,000 after buying an additional 136,478 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Apple by 0.4% in the first quarter. American Century Companies Inc. now owns 14,064,371 shares of the iPhone maker’s stock worth $2,359,720,000 after buying an additional 60,860 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.

AAPL stock opened at $222.11 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84. Apple Inc. has a twelve month low of $150.24 and a twelve month high of $233.47. The firm has a market cap of $1,109.54 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 1.99 and a beta of 1.36.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The business had revenue of $53.27 billion for the quarter, compared to analysts’ expectations of $52.43 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. The business’s revenue was up 17.3% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 11.76 EPS for the current fiscal year.

In other Apple news, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the transaction, the senior vice president now owns 105,538 shares in the company, valued at $24,554,471.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Angela J. Ahrendts sold 14,194 shares of the business’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the transaction, the senior vice president now owns 105,538 shares in the company, valued at approximately $24,058,442.48. The disclosure for this sale can be found here. Insiders have sold 564,185 shares of company stock worth $124,444,213 in the last quarter. Company insiders own 0.06% of the company’s stock.

Several equities analysts have recently commented on AAPL shares. BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Sanford C. Bernstein reissued a “neutral” rating and issued a $190.00 target price on shares of Apple in a report on Monday, June 25th. Barclays boosted their target price on shares of Apple from $161.00 to $175.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 26th. Loop Capital boosted their target price on shares of Apple from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, July 6th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $210.00 target price on shares of Apple in a report on Monday, July 9th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirty have given a buy rating to the company’s stock. Apple currently has an average rating of “Buy” and a consensus target price of $221.63.

About Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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