Alesco Advisors LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 14.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,757 shares of the iPhone maker’s stock after selling 983 shares during the quarter. Alesco Advisors LLC’s holdings in Apple were worth $1,691,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Handelsbanken Fonder AB raised its holdings in shares of Apple by 1.8% during the fourth quarter. Handelsbanken Fonder AB now owns 364,008 shares of the iPhone maker’s stock worth $106,891,000 after purchasing an additional 6,466 shares during the period. Wealthspire Advisors L.P. raised its holdings in shares of Apple by 0.6% during the fourth quarter. Wealthspire Advisors L.P. now owns 96,994 shares of the iPhone maker’s stock worth $28,482,000 after purchasing an additional 614 shares during the period. Wealth Alliance acquired a new stake in shares of Apple during the fourth quarter worth $11,727,000. Sullivan Bruyette Speros & Blaney LLC raised its holdings in shares of Apple by 6.2% during the fourth quarter. Sullivan Bruyette Speros & Blaney LLC now owns 73,366 shares of the iPhone maker’s stock worth $21,544,000 after purchasing an additional 4,305 shares during the period. Finally, Ahrens Investment Partners LLC raised its holdings in shares of Apple by 1.4% during the fourth quarter. Ahrens Investment Partners LLC now owns 11,041 shares of the iPhone maker’s stock worth $3,242,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 60.69% of the company’s stock.
In other news, Director Arthur D. Levinson sold 1,429 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $304.11, for a total value of $434,573.19. Following the sale, the director now owns 1,134,712 shares in the company, valued at approximately $345,077,266.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is owned by insiders.
AAPL opened at $245.52 on Thursday. Apple Inc. has a fifty-two week low of $170.27 and a fifty-two week high of $327.85. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.60 and a quick ratio of 1.56. The firm’s fifty day moving average price is $289.96 and its two-hundred day moving average price is $270.14. The company has a market capitalization of $1,074.27 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.64 and a beta of 1.30.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.54 by $0.45. Apple had a net margin of 21.49% and a return on equity of 60.19%. The firm had revenue of $91.80 billion for the quarter, compared to the consensus estimate of $88.41 billion. During the same quarter in the previous year, the company earned $4.18 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 13.05 EPS for the current fiscal year.
A number of brokerages have weighed in on AAPL. Macquarie cut shares of Apple from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Zacks Investment Research cut shares of Apple from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Thursday, January 30th. Argus reaffirmed a “buy” rating and issued a $350.00 price objective (up previously from $300.00) on shares of Apple in a report on Friday, January 10th. BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a report on Wednesday, March 4th. Finally, Goldman Sachs Group increased their price objective on shares of Apple from $265.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $305.00.
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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