Apple Inc. (NASDAQ:AAPL) Position Reduced by Baldrige Asset Management LLC

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Baldrige Asset Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,767 shares of the iPhone maker’s stock after selling 372 shares during the quarter. Apple accounts for 3.2% of Baldrige Asset Management LLC’s investment portfolio, making the stock its 9th biggest position. Baldrige Asset Management LLC’s holdings in Apple were worth $3,516,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AAPL. Kiley Juergens Wealth Management LLC increased its position in shares of Apple by 1.1% in the fourth quarter. Kiley Juergens Wealth Management LLC now owns 44,530 shares of the iPhone maker’s stock valued at $7,024,000 after acquiring an additional 494 shares during the period. CKW Financial Group increased its position in shares of Apple by 15.0% during the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after buying an additional 105 shares during the period. Pecaut & CO. increased its position in shares of Apple by 3.0% during the first quarter. Pecaut & CO. now owns 59,894 shares of the iPhone maker’s stock valued at $11,377,000 after buying an additional 1,725 shares during the period. Founders Capital Management LLC increased its position in shares of Apple by 164.2% during the fourth quarter. Founders Capital Management LLC now owns 15,120 shares of the iPhone maker’s stock valued at $2,385,000 after buying an additional 9,396 shares during the period. Finally, Farmers Trust Co. increased its position in shares of Apple by 13.1% during the fourth quarter. Farmers Trust Co. now owns 56,127 shares of the iPhone maker’s stock valued at $8,854,000 after buying an additional 6,492 shares during the period. Institutional investors own 58.50% of the company’s stock.

AAPL has been the topic of several research reports. Sanford C. Bernstein set a $190.00 price objective on shares of Apple and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Jefferies Financial Group boosted their price objective on shares of EXACT Sciences from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. BidaskClub raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Deutsche Bank set a €42.00 ($48.84) price objective on shares of Alstom and gave the stock a “neutral” rating in a research note on Tuesday, June 25th. Finally, ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Apple has a consensus rating of “Hold” and a consensus target price of $211.22.

Shares of NASDAQ:AAPL traded up $1.62 during trading on Tuesday, hitting $208.84. 17,179,038 shares of the stock traded hands, compared to its average volume of 18,963,500. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.32. The stock has a market capitalization of $932.13 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 1.72 and a beta of 1.23. The business’s fifty day simple moving average is $198.00. Apple Inc. has a 52-week low of $142.00 and a 52-week high of $233.47.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.09. The firm had revenue of $58.02 billion during the quarter, compared to analyst estimates of $57.40 billion. Apple had a net margin of 22.12% and a return on equity of 51.29%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.73 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 11.47 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 30th that authorizes the company to repurchase $75.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

In related news, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $210.86, for a total value of $7,380,100.00. Following the completion of the sale, the director now owns 1,168,283 shares of the company’s stock, valued at approximately $246,344,153.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 56,411 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the completion of the sale, the chief operating officer now directly owns 151,187 shares of the company’s stock, valued at approximately $31,803,697.32. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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