Mountain Capital Investment Advisors Inc Buys 160 Shares of Apple Inc. (NASDAQ:AAPL)

Mountain Capital Investment Advisors Inc raised its stake in Apple Inc. (NASDAQ:AAPL) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,977 shares of the iPhone maker’s stock after purchasing an additional 160 shares during the quarter. Apple makes up about 1.2% of Mountain Capital Investment Advisors Inc’s portfolio, making the stock its 16th biggest holding. Mountain Capital Investment Advisors Inc’s holdings in Apple were worth $2,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Founders Capital Management LLC boosted its stake in shares of Apple by 0.3% during the 2nd quarter. Founders Capital Management LLC now owns 21,539 shares of the iPhone maker’s stock worth $7,857,000 after acquiring an additional 71 shares during the period. Bangor Savings Bank boosted its stake in shares of Apple by 0.4% during the 2nd quarter. Bangor Savings Bank now owns 21,485 shares of the iPhone maker’s stock worth $7,837,000 after acquiring an additional 89 shares during the period. DNB Asset Management AS boosted its stake in shares of Apple by 21.7% during the 2nd quarter. DNB Asset Management AS now owns 638,357 shares of the iPhone maker’s stock worth $232,873,000 after acquiring an additional 114,039 shares during the period. Parkside Advisors LLC boosted its stake in shares of Apple by 0.6% during the 2nd quarter. Parkside Advisors LLC now owns 7,189 shares of the iPhone maker’s stock worth $2,622,000 after acquiring an additional 46 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV boosted its stake in shares of Apple by 0.3% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 42,519 shares of the iPhone maker’s stock worth $15,511,000 after acquiring an additional 127 shares during the period. Institutional investors own 62.04% of the company’s stock.

In other news, SVP Deirdre O’brien sold 9,137 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,491 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $305.62, for a total value of $1,372,539.42. Following the completion of the transaction, the insider now directly owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.

Several analysts recently weighed in on the company. Nomura lifted their price target on Apple from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Nomura Instinet lifted their price objective on Apple from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Cowen lifted their price objective on Apple from $335.00 to $400.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. BidaskClub raised Apple from a “buy” rating to a “strong-buy” rating in a report on Friday, June 19th. Finally, HSBC raised Apple from a “reduce” rating to a “hold” rating and lowered their price target for the stock from $385.00 to $295.00 in a report on Wednesday, June 10th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Apple has a consensus rating of “Buy” and an average target price of $329.38.

AAPL stock traded up $7.12 during trading on Wednesday, reaching $379.81. 1,388,206 shares of the stock were exchanged, compared to its average volume of 37,403,880. The firm’s 50 day moving average is $339.92 and its 200 day moving average is $302.89. Apple Inc. has a twelve month low of $192.58 and a twelve month high of $372.38. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.14. The firm has a market cap of $1,641.26 billion, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.29. Apple had a return on equity of 64.49% and a net margin of 21.35%. The business had revenue of $58.31 billion for the quarter, compared to the consensus estimate of $54.64 billion. During the same period in the prior year, the business earned $2.46 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts predict that Apple Inc. will post 12.32 earnings per share for the current fiscal year.

About Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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