Townsend & Associates Inc grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,748 shares of the iPhone maker’s stock after buying an additional 374 shares during the quarter. Apple accounts for approximately 1.4% of Townsend & Associates Inc’s holdings, making the stock its 29th largest position. Townsend & Associates Inc’s holdings in Apple were worth $1,514,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Abundance Wealth Counselors purchased a new position in Apple during the fourth quarter worth about $712,000. Semmax Financial Advisors Inc. bought a new stake in Apple during the fourth quarter worth about $50,000. Cohen & Steers Inc. lifted its stake in Apple by 7.0% during the fourth quarter. Cohen & Steers Inc. now owns 59,514 shares of the iPhone maker’s stock worth $9,388,000 after purchasing an additional 3,908 shares during the last quarter. LMR Partners LLP bought a new stake in Apple during the fourth quarter worth about $13,048,000. Finally, Drexel Morgan & Co. lifted its stake in Apple by 1.0% during the fourth quarter. Drexel Morgan & Co. now owns 18,999 shares of the iPhone maker’s stock worth $2,997,000 after purchasing an additional 179 shares during the last quarter. 58.63% of the stock is currently owned by hedge funds and other institutional investors.
In other Apple news, COO Jeffrey E. Williams sold 67,554 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $219.04, for a total transaction of $14,797,028.16. Following the transaction, the chief operating officer now owns 237,517 shares in the company, valued at approximately $52,025,723.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 61,659 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $228.38, for a total value of $14,081,682.42. Following the transaction, the chief financial officer now owns 85,507 shares in the company, valued at approximately $19,528,088.66. The disclosure for this sale can be found here. Insiders have sold a total of 433,749 shares of company stock valued at $91,773,322 in the last ninety days. 0.05% of the stock is currently owned by corporate insiders.
AAPL traded up $3.77 during midday trading on Friday, reaching $233.86. 9,265,899 shares of the company’s stock traded hands, compared to its average volume of 30,148,068. The firm has a fifty day moving average of $216.29 and a two-hundred day moving average of $202.42. The stock has a market capitalization of $1,039.82 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $229.93.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.08. The business had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. Apple’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.34 EPS. Sell-side analysts forecast that Apple Inc. will post 11.68 EPS for the current year.
Several equities research analysts have issued reports on the company. ValuEngine lowered Apple from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank set a $210.00 price target on Apple and gave the stock a “hold” rating in a research note on Tuesday, September 24th. Barclays lifted their price target on Apple from $192.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Bank of America reaffirmed a “buy” rating and set a $250.00 price target (up previously from $240.00) on shares of Apple in a research note on Wednesday, September 11th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $260.00 price target (up previously from $240.00) on shares of Apple in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $223.22.
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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