Edgewood Management LLC Acquires 2,890 Shares of Apple Inc. (NASDAQ:AAPL)

Edgewood Management LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,758 shares of the iPhone maker’s stock after acquiring an additional 2,890 shares during the period. Apple comprises approximately 0.1% of Edgewood Management LLC’s portfolio, making the stock its 25th biggest holding. Edgewood Management LLC’s holdings in Apple were worth $41,334,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Apple by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,450,823 shares of the iPhone maker’s stock worth $6,005,385,000 after acquiring an additional 71,513 shares in the last quarter. Johanson Financial Advisors Inc. lifted its position in shares of Apple by 29,161.0% during the fourth quarter. Johanson Financial Advisors Inc. now owns 16,895,866 shares of the iPhone maker’s stock worth $57,543,000 after acquiring an additional 16,838,124 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Apple by 9.2% during the fourth quarter. Jennison Associates LLC now owns 14,039,994 shares of the iPhone maker’s stock worth $4,122,844,000 after acquiring an additional 1,183,091 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Apple by 1.9% during the third quarter. Parametric Portfolio Associates LLC now owns 14,019,253 shares of the iPhone maker’s stock worth $3,139,892,000 after acquiring an additional 267,009 shares in the last quarter. Finally, Sanders Capital LLC lifted its position in shares of Apple by 7.8% during the fourth quarter. Sanders Capital LLC now owns 8,787,007 shares of the iPhone maker’s stock worth $2,855,898,000 after acquiring an additional 633,366 shares in the last quarter. 60.69% of the stock is owned by institutional investors.

In other Apple news, Director Arthur D. Levinson sold 1,429 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $304.11, for a total transaction of $434,573.19. Following the sale, the director now owns 1,134,712 shares in the company, valued at $345,077,266.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.05% of the company’s stock.

NASDAQ AAPL opened at $245.52 on Thursday. The stock’s 50-day simple moving average is $289.96 and its two-hundred day simple moving average is $270.14. Apple Inc. has a twelve month low of $170.27 and a twelve month high of $327.85. The company has a quick ratio of 1.56, a current ratio of 1.60 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $1,080.22 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.80 and a beta of 1.30.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.54 by $0.45. Apple had a return on equity of 60.19% and a net margin of 21.49%. The business had revenue of $91.80 billion for the quarter, compared to the consensus estimate of $88.41 billion. During the same quarter last year, the business posted $4.18 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 13.05 earnings per share for the current fiscal year.

Several research firms have issued reports on AAPL. Wedbush upgraded Apple to an “outperform” rating and dropped their target price for the stock from $400.00 to $335.00 in a research report on Wednesday, March 18th. Tigress Financial restated a “buy” rating on shares of Apple in a research report on Monday, December 30th. Argus restated a “buy” rating and set a $350.00 target price (up previously from $300.00) on shares of Apple in a research report on Friday, January 10th. Jefferies Financial Group restated a “buy” rating and set a $320.00 target price (down previously from $370.00) on shares of Apple in a research report on Tuesday, March 17th. Finally, Cascend Securities restated a “buy” rating and set a $350.00 target price (down previously from $375.00) on shares of Apple in a research report on Monday, March 2nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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