Boys Arnold & Co. Inc. lessened its position in Apple Inc. (NASDAQ:AAPL) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,894 shares of the iPhone maker’s stock after selling 887 shares during the quarter. Apple makes up about 3.9% of Boys Arnold & Co. Inc.’s portfolio, making the stock its 4th biggest position. Boys Arnold & Co. Inc.’s holdings in Apple were worth $26,896,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Monument Capital Management lifted its holdings in Apple by 2.2% during the 2nd quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock worth $491,000 after purchasing an additional 53 shares during the last quarter. Rockland Trust Co. lifted its holdings in Apple by 4.8% during the 2nd quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock worth $4,081,000 after purchasing an additional 948 shares during the last quarter. Asset Dedication LLC lifted its holdings in Apple by 0.4% during the 2nd quarter. Asset Dedication LLC now owns 19,862 shares of the iPhone maker’s stock worth $3,933,000 after purchasing an additional 79 shares during the last quarter. Cape ANN Savings Bank lifted its holdings in Apple by 15.7% during the 2nd quarter. Cape ANN Savings Bank now owns 14,899 shares of the iPhone maker’s stock worth $2,948,000 after purchasing an additional 2,027 shares during the last quarter. Finally, HWG Holdings LP lifted its holdings in Apple by 45.5% during the 2nd quarter. HWG Holdings LP now owns 18,403 shares of the iPhone maker’s stock worth $3,642,000 after purchasing an additional 5,752 shares during the last quarter. 58.63% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on AAPL shares. Barclays lifted their price target on Apple from $192.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. BidaskClub raised Apple from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Cowen set a $250.00 price objective on Apple and gave the company a “buy” rating in a report on Wednesday, August 21st. Rosenblatt Securities set a $150.00 price objective on Apple and gave the company a “sell” rating in a report on Friday, September 13th. Finally, Evercore ISI initiated coverage on Apple in a report on Thursday, June 6th. They set an “outperform” rating and a $205.00 price target for the company. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $218.08.
In related news, insider Chris Kondo sold 4,376 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total value of $54,668,037.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 304,536 shares of company stock worth $62,894,611. 0.05% of the stock is owned by company insiders.
Shares of Apple stock traded down $3.23 on Friday, hitting $217.73. 32,105,176 shares of the company’s stock traded hands, compared to its average volume of 25,114,450. Apple Inc. has a one year low of $142.00 and a one year high of $233.47. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. The company has a fifty day moving average of $208.80 and a two-hundred day moving average of $198.30. The company has a market capitalization of $998.56 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.82 and a beta of 1.24.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. During the same period in the prior year, the business earned $2.34 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 11.69 earnings per share for the current year.
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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