Pure Financial Advisors Inc. lessened its position in Apple Inc. (NASDAQ:AAPL) by 10.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,334 shares of the iPhone maker’s stock after selling 1,800 shares during the quarter. Apple makes up about 0.9% of Pure Financial Advisors Inc.’s investment portfolio, making the stock its 29th largest holding. Pure Financial Advisors Inc.’s holdings in Apple were worth $5,594,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. bought a new position in Apple during the 1st quarter valued at approximately $536,884,000. Geode Capital Management LLC increased its position in Apple by 2.7% during the 1st quarter. Geode Capital Management LLC now owns 64,178,586 shares of the iPhone maker’s stock valued at $16,290,282,000 after buying an additional 1,696,496 shares in the last quarter. Norges Bank bought a new position in Apple during the 4th quarter valued at approximately $13,759,345,000. Wealth Quarterback LLC bought a new position in Apple during the 4th quarter valued at approximately $3,783,310,000. Finally, Wellington Management Group LLP increased its position in Apple by 18.2% during the 1st quarter. Wellington Management Group LLP now owns 26,941,525 shares of the iPhone maker’s stock valued at $6,850,960,000 after buying an additional 4,148,565 shares in the last quarter. Institutional investors own 62.04% of the company’s stock.
In other news, SVP Deirdre O’brien sold 9,137 shares of Apple stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $285.12, for a total value of $2,605,141.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,491 shares of Apple stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $305.62, for a total value of $1,372,539.42. Following the completion of the sale, the insider now directly owns 7,370 shares in the company, valued at $2,252,419.40. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
Shares of Apple stock traded up $7.12 during trading hours on Wednesday, hitting $379.81. The company’s stock had a trading volume of 1,388,206 shares, compared to its average volume of 37,403,880. The business has a 50 day moving average price of $339.92 and a two-hundred day moving average price of $302.89. Apple Inc. has a 12-month low of $192.58 and a 12-month high of $372.38. The company has a market cap of $1,641.26 billion, a PE ratio of 29.70, a PEG ratio of 2.76 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.46 and a current ratio of 1.50.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 previous year, the business earned $2.46 earnings per share. The business’s revenue was up .5% on a year-over-year basis. As a group, research analysts anticipate that Apple Inc. will post 12.32 earnings per share for the current year.
A number of research analysts recently weighed in on AAPL shares. Credit Suisse Group set a $295.00 price objective on Apple and gave the company a “neutral” rating in a research report on Tuesday, June 23rd. HSBC raised Apple from a “reduce” rating to a “hold” rating and reduced their price objective for the company from $385.00 to $295.00 in a research report on Wednesday, June 10th. Robert W. Baird raised their price objective on Apple from $320.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Bank of America reissued a “buy” rating and issued a $390.00 target price (up previously from $340.00) on shares of Apple in a report on Thursday, June 11th. Finally, UBS Group lifted their target price on Apple from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $329.38.
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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