Winthrop Advisory Group LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,399 shares of the iPhone maker’s stock after selling 4,864 shares during the period. Apple accounts for about 3.8% of Winthrop Advisory Group LLC’s investment portfolio, making the stock its 8th largest position. Winthrop Advisory Group LLC’s holdings in Apple were worth $8,985,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. MA Private Wealth grew its holdings in shares of Apple by 0.3% in the second quarter. MA Private Wealth now owns 16,134 shares of the iPhone maker’s stock valued at $3,193,000 after purchasing an additional 56 shares in the last quarter. Brick & Kyle Associates grew its holdings in shares of Apple by 2.7% in the second quarter. Brick & Kyle Associates now owns 24,122 shares of the iPhone maker’s stock valued at $4,828,000 after purchasing an additional 624 shares in the last quarter. Pwmco LLC grew its holdings in shares of Apple by 0.3% in the second quarter. Pwmco LLC now owns 49,470 shares of the iPhone maker’s stock valued at $9,791,000 after purchasing an additional 125 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC grew its holdings in shares of Apple by 1.3% in the second quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 16,164 shares of the iPhone maker’s stock valued at $3,199,000 after purchasing an additional 201 shares in the last quarter. Finally, Intl Fcstone Inc. grew its holdings in shares of Apple by 5.0% in the second quarter. Intl Fcstone Inc. now owns 18,579 shares of the iPhone maker’s stock valued at $3,677,000 after purchasing an additional 877 shares in the last quarter. Institutional investors own 58.50% of the company’s stock.
In related news, COO Jeffrey E. Williams sold 56,411 shares of Apple stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the sale, the chief operating officer now directly owns 151,187 shares in the company, valued at $31,803,697.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction dated 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 $246,344,153.38. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
Shares of NASDAQ:AAPL traded up $1.62 on Tuesday, hitting $208.84. 17,179,038 shares of the company’s stock were exchanged, compared to its average volume of 18,963,500. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.32 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $198.00. The company has a market capitalization of $932.13 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.72 and a beta of 1.23. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $233.47.
Apple (NASDAQ:AAPL) last released its quarterly earnings data 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 the consensus estimate of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.73 earnings per share. On average, research analysts anticipate that Apple Inc. will post 11.47 earnings per share for the current fiscal year.
Apple declared that its board has initiated a stock repurchase plan on Tuesday, April 30th that authorizes the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts recently weighed in on the stock. Loop Capital raised their target price on shares of Apple to $190.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Piper Jaffray Companies raised their price target on DexCom to $173.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Deutsche Bank set a €42.00 ($48.84) price target on Alstom and gave the stock a “neutral” rating in a research report on Tuesday, June 25th. Robert W. Baird raised their price target on Thermo Fisher Scientific from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Finally, Bank of America restated a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Zendesk in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $211.22.
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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