Guardian Capital LP lowered its position in Apple Inc. (NASDAQ:AAPL) by 24.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 56,293 shares of the iPhone maker’s stock after selling 18,074 shares during the quarter. Guardian Capital LP’s holdings in Apple were worth $16,530,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Robecosam AG lifted its stake in Apple by 1.1% in the 4th quarter. Robecosam AG now owns 9,100 shares of the iPhone maker’s stock worth $292,000 after purchasing an additional 100 shares in the last quarter. Van ECK Associates Corp lifted its stake in Apple by 371.9% in the 4th quarter. Van ECK Associates Corp now owns 137,292 shares of the iPhone maker’s stock worth $40,316,000 after purchasing an additional 108,197 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Apple by 43.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 18,472 shares of the iPhone maker’s stock worth $5,425,000 after purchasing an additional 5,625 shares in the last quarter. Level Four Advisory Services LLC lifted its stake in Apple by 4.6% in the 4th quarter. Level Four Advisory Services LLC now owns 116,156 shares of the iPhone maker’s stock worth $101,696,000 after purchasing an additional 5,142 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Apple by 6.8% in the 4th quarter. Meeder Asset Management Inc. now owns 194,236 shares of the iPhone maker’s stock worth $57,037,000 after purchasing an additional 12,417 shares in the last quarter. 60.69% of the stock is owned by institutional investors.
Shares of NASDAQ:AAPL opened at $245.52 on Thursday. 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 Inc. has a 12 month low of $170.27 and a 12 month high of $327.85. The firm’s 50-day moving average is $289.96 and its 200 day moving average is $270.14. The company has a current ratio of 1.60, a quick ratio of 1.56 and a debt-to-equity ratio of 1.04.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 EPS for the quarter, beating the consensus estimate of $4.54 by $0.45. The company had revenue of $91.80 billion for the quarter, compared to the consensus estimate of $88.41 billion. Apple had a net margin of 21.49% and a return on equity of 60.19%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.18 EPS. As a group, equities analysts forecast that Apple Inc. will post 13.05 EPS for the current fiscal year.
Several analysts have commented on AAPL shares. Wedbush upgraded shares of Apple to an “outperform” rating and decreased their price target for the stock from $400.00 to $335.00 in a research note on Wednesday, March 18th. Wells Fargo & Co upgraded shares of Apple from an “equal weight” rating to an “overweight” rating and set a $315.00 price target on the stock in a research note on Friday, March 13th. Evercore ISI started coverage on shares of Apple in a research note on Friday, February 7th. They issued a “buy” rating and a $365.00 price target on the stock. Sanford C. Bernstein reiterated a “hold” rating and issued a $300.00 price target on shares of Apple in a research note on Tuesday, February 18th. Finally, Cascend Securities reiterated a “buy” rating and issued a $350.00 price target (down previously from $375.00) on shares of Apple in a research note on Monday, March 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $305.00.
In related news, Director Arthur D. Levinson sold 1,429 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.11, for a total transaction of $434,573.19. Following the transaction, the director now directly owns 1,134,712 shares in the company, valued at approximately $345,077,266.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.
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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