Factory Mutual Insurance Co. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 16.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,573,900 shares of the iPhone maker’s stock after selling 313,500 shares during the quarter. Apple makes up 3.7% of Factory Mutual Insurance Co.’s portfolio, making the stock its largest position. Factory Mutual Insurance Co.’s holdings in Apple were worth $355,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Delphi Private Advisors LLC purchased a new position in shares of Apple in the 2nd quarter worth approximately $120,000. Quattro Financial Advisors LLC purchased a new stake in Apple during the 1st quarter worth approximately $133,000. CX Institutional purchased a new stake in Apple during the 2nd quarter worth approximately $135,000. Gainplan LLC purchased a new stake in Apple during the 1st quarter worth approximately $200,000. Finally, Boston Standard Wealth Management LLC purchased a new stake in Apple during the 3rd quarter worth approximately $204,000. Institutional investors own 57.05% of the company’s stock.
Several brokerages have commented on AAPL. DA Davidson decreased their price objective on shares of Apple to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 3rd. Robert W. Baird decreased their price objective on shares of Apple from $230.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday, January 3rd. Citigroup decreased their target price on shares of Apple from $265.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. ValuEngine cut shares of Apple from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Finally, Bank of America reiterated a “buy” rating on shares of Apple in a research note on Tuesday, October 9th. Three equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and twenty-two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $195.74.
In other news, insider Chris Kondo sold 3,408 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $190.00, for a total transaction of $647,520.00. Following the sale, the insider now owns 8,940 shares of the company’s stock, valued at $1,698,600. 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 currently owned by corporate insiders.
NASDAQ AAPL traded up $0.96 during trading hours on Monday, reaching $156.82. The company had a trading volume of 33,751,023 shares, compared to its average volume of 38,600,972. Apple Inc. has a 1-year low of $142.00 and a 1-year high of $233.47. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09. The stock has a market capitalization of $770.79 billion, a P/E ratio of 13.17, a PEG ratio of 1.49 and a beta of 1.23.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.13. The business had revenue of $62.90 billion for the quarter, compared to analysts’ expectations of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 earnings per share. As a group, analysts anticipate that Apple Inc. will post 12.1 EPS for the current year.
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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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