Highland Capital Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 210,419 shares of the iPhone maker’s stock after buying an additional 4,254 shares during the quarter. Apple makes up 3.4% of Highland Capital Management LLC’s holdings, making the stock its 2nd largest holding. Highland Capital Management LLC’s holdings in Apple were worth $47,500,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. First Hawaiian Bank increased its holdings in Apple by 33.5% in the 2nd quarter. First Hawaiian Bank now owns 10,012 shares of the iPhone maker’s stock valued at $1,854,000 after acquiring an additional 2,510 shares during the last quarter. Peavine Capital LLC increased its holdings in shares of Apple by 428.7% in the 2nd quarter. Peavine Capital LLC now owns 6,968 shares of the iPhone maker’s stock worth $1,290,000 after buying an additional 5,650 shares during the last quarter. Wechter Feldman Wealth Management Inc. increased its holdings in shares of Apple by 29.1% in the 2nd quarter. Wechter Feldman Wealth Management Inc. now owns 2,918 shares of the iPhone maker’s stock worth $540,000 after buying an additional 657 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Apple by 3.6% in the 2nd quarter. Parallel Advisors LLC now owns 96,213 shares of the iPhone maker’s stock worth $17,810,000 after buying an additional 3,336 shares during the last quarter. Finally, United Capital Management of KS Inc. bought a new stake in shares of Apple in the 3rd quarter worth about $3,860,000. Institutional investors own 57.04% of the company’s stock.
A number of research firms have recently weighed in on AAPL. Canaccord Genuity restated a “buy” rating on shares of Apple in a report on Friday. Royal Bank of Canada restated a “buy” rating and issued a $185.00 target price on shares of Apple in a report on Friday. UBS Group reaffirmed a “buy” rating and set a $180.00 price target on shares of Apple in a research note on Monday, January 14th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $228.00 price target on shares of Apple in a research note on Friday, January 11th. Finally, HSBC cut shares of Apple from a “buy” rating to a “hold” rating and dropped their price target for the stock from $200.00 to $160.00 in a research note on Wednesday, January 9th. Three analysts have rated the stock with a sell rating, twenty-four have given a hold rating and twenty-two have given a buy rating to the stock. Apple presently has an average rating of “Hold” and a consensus price target of $195.74.
Shares of NASDAQ AAPL opened at $156.82 on Friday. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $233.47. The firm has a market cap of $770.79 billion, a P/E ratio of 13.21, a PEG ratio of 1.49 and a beta of 1.23. The company has a current ratio of 1.12, a quick ratio of 1.09 and a debt-to-equity ratio of 0.87.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.13. The business had revenue of $62.90 billion for the quarter, compared to the consensus estimate of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. The company’s revenue was up 19.6% compared to the same quarter last year. During the same period last year, the firm posted $2.07 earnings per share. On average, research analysts anticipate that Apple Inc. will post 12.1 EPS for the current year.
In other Apple news, insider Chris Kondo sold 3,408 shares of the stock in a transaction on Monday, November 19th. The shares were sold at an average price of $190.00, for a total transaction of $647,520.00. Following the transaction, the insider now directly owns 8,940 shares of the company’s stock, valued at $1,698,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.05% of the company’s stock.
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Apple Company Profile
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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