West Coast Financial LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,802 shares of the iPhone maker’s stock after selling 1,733 shares during the quarter. Apple makes up 3.6% of West Coast Financial LLC’s holdings, making the stock its 3rd largest position. West Coast Financial LLC’s holdings in Apple were worth $13,427,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Korea Investment CORP increased its holdings in shares of Apple by 6.3% during the 4th quarter. Korea Investment CORP now owns 3,753,051 shares of the iPhone maker’s stock worth $1,102,083,000 after buying an additional 221,800 shares during the last quarter. Atlas Private Wealth Management acquired a new position in Apple in the 4th quarter worth approximately $4,730,000. Blair William & Co. IL boosted its stake in shares of Apple by 2.0% during the 4th quarter. Blair William & Co. IL now owns 2,568,117 shares of the iPhone maker’s stock valued at $754,128,000 after buying an additional 49,316 shares during the period. Altshuler Shaham Ltd raised its holdings in Apple by 2,180.0% in the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 109 shares during the period. Finally, Capital International Ltd. CA grew its position in Apple by 37.6% in the 4th quarter. Capital International Ltd. CA now owns 16,051 shares of the iPhone maker’s stock worth $4,713,000 after purchasing an additional 4,382 shares during the last quarter. 60.69% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Jeffrey E. Williams sold 41,062 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $241.44, for a total value of $9,914,009.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 9,137 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $285.12, for a total value of $2,605,141.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,690 shares of company stock worth $23,812,159. Corporate insiders own 0.05% of the company’s stock.
Several research analysts recently commented on AAPL shares. Imperial Capital reduced their target price on shares of Apple from $33.00 to $25.00 in a report on Friday. Needham & Company LLC cut Apple from a “strong-buy” rating to a “buy” rating and upped their price target for the company from $280.00 to $350.00 in a research report on Monday, January 6th. Deutsche Bank increased their price objective on Apple from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. DA Davidson reaffirmed a “buy” rating and issued a $370.00 price objective (down previously from $385.00) on shares of Apple in a research note on Tuesday, February 18th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $300.00 target price on shares of Apple in a research report on Tuesday, April 14th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $288.19.
AAPL stock opened at $283.17 on Tuesday. The stock has a market cap of $1,239.00 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 2.18 and a beta of 1.17. Apple Inc. has a 1-year low of $170.27 and a 1-year high of $327.85. The company has a current ratio of 1.60, a quick ratio of 1.56 and a debt-to-equity ratio of 1.04. The company’s 50 day moving average is $262.71 and its 200 day moving average is $277.52.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, January 28th. The iPhone maker reported $4.99 EPS for the quarter, topping the consensus estimate of $4.54 by $0.45. Apple had a return on equity of 60.19% and a net margin of 21.49%. The company had revenue of $91.80 billion during the quarter, compared to the consensus estimate of $88.41 billion. During the same period last year, the company earned $4.18 EPS. Apple’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 12.16 EPS for the current fiscal year.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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