Lord Abbett & CO. LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,539,253 shares of the iPhone maker’s stock after selling 56,864 shares during the period. Apple accounts for about 1.5% of Lord Abbett & CO. LLC’s investment portfolio, making the stock its 2nd largest position. Lord Abbett & CO. LLC’s holdings in Apple were worth $452,000,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd raised its holdings in Apple by 2,180.0% in the fourth quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 109 shares during the period. Sage Financial Group Inc. purchased a new position in Apple in the fourth quarter valued at approximately $36,000. CXI Advisors purchased a new position in Apple in the fourth quarter valued at approximately $68,000. University of Texas Texas AM Investment Managment Co. purchased a new position in Apple in the fourth quarter valued at approximately $117,000. Finally, Lloyd Advisory Services LLC. purchased a new position in Apple in the fourth quarter valued at approximately $129,000. 60.69% of the stock is currently owned by institutional investors.
In other news, Director Arthur D. Levinson sold 1,429 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $304.11, for a total transaction of $434,573.19. Following the completion of the sale, the director now owns 1,134,712 shares of the company’s stock, valued at $345,077,266.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is currently owned by company insiders.
AAPL stock opened at $245.52 on Thursday. Apple Inc. has a twelve month low of $170.27 and a twelve month high of $327.85. The company has a current ratio of 1.60, a quick ratio of 1.56 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $1,080.22 billion, a P/E ratio of 19.39, a PEG ratio of 1.80 and a beta of 1.30. The firm has a 50 day simple moving average of $289.96 and a 200-day simple moving average of $270.14.
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, topping analysts’ consensus estimates of $4.54 by $0.45. Apple had a net margin of 21.49% and a return on equity of 60.19%. The business had revenue of $91.80 billion during the quarter, compared to the consensus estimate of $88.41 billion. During the same quarter last year, the company earned $4.18 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 13.05 EPS for the current year.
Several research analysts recently commented on the stock. Sanford C. Bernstein restated a “hold” rating and issued a $300.00 price target on shares of Apple in a report on Tuesday, February 18th. Argus restated a “buy” rating and issued a $350.00 price target (up previously from $300.00) on shares of Apple in a report on Friday, January 10th. 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 report on Friday, March 13th. Bank of America restated a “buy” rating and issued a $350.00 price target on shares of Apple in a report on Friday, March 6th. Finally, Loop Capital restated a “hold” rating and issued a $325.00 price target on shares of Apple in a report on Wednesday, January 29th. Three equities research 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 presently 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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