Prudential Financial Inc. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,539,766 shares of the iPhone maker’s stock after buying an additional 155,443 shares during the quarter. Apple accounts for about 2.3% of Prudential Financial Inc.’s holdings, making the stock its 2nd biggest position. Prudential Financial Inc.’s holdings in Apple were worth $1,492,270,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of AAPL. Monument Capital Management raised its position in Apple by 2.2% in the second quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock worth $491,000 after acquiring an additional 53 shares during the period. Pictet North America Advisors SA increased its stake in shares of Apple by 3.3% in the second quarter. Pictet North America Advisors SA now owns 131,021 shares of the iPhone maker’s stock worth $25,932,000 after purchasing an additional 4,170 shares in the last quarter. Rockland Trust Co. increased its stake in shares of Apple by 4.8% in the second quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock worth $4,081,000 after purchasing an additional 948 shares in the last quarter. Asset Dedication LLC increased its stake in shares of Apple by 0.4% in the second quarter. Asset Dedication LLC now owns 19,862 shares of the iPhone maker’s stock worth $3,933,000 after purchasing an additional 79 shares in the last quarter. Finally, HWG Holdings LP grew its stake in Apple by 45.5% during the second quarter. HWG Holdings LP now owns 18,403 shares of the iPhone maker’s stock valued at $3,642,000 after acquiring an additional 5,752 shares in the last quarter. Hedge funds and other institutional investors own 58.77% of the company’s stock.
In other news, insider Chris Kondo sold 4,376 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,536 shares of company stock valued at $62,894,611. Company insiders own 0.05% of the company’s stock.
Shares of AAPL traded down $4.34 during mid-day trading on Friday, reaching $218.75. The company’s stock had a trading volume of 37,382,340 shares, compared to its average volume of 24,957,554. The stock has a market cap of $1,008.16 billion, a PE ratio of 19.02, a P/E/G ratio of 1.85 and a beta of 1.24. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $233.47. The company’s fifty day moving average price is $207.36 and its two-hundred day moving average price is $196.71.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.08. The firm had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.34 EPS. Research analysts anticipate that Apple Inc. will post 11.68 EPS for the current year.
Several brokerages recently commented on AAPL. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $265.00 price objective (up previously from $245.00) on shares of Apple in a research note on Wednesday, July 31st. Loop Capital boosted their price objective on shares of Apple to $200.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Needham & Company LLC boosted their price objective on shares of Apple from $225.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Wednesday. Nomura boosted their price objective on shares of Apple from $180.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $217.25.
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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