Bank of Stockton lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,614 shares of the iPhone maker’s stock after selling 723 shares during the quarter. Apple makes up about 2.1% of Bank of Stockton’s investment portfolio, making the stock its 7th largest holding. Bank of Stockton’s holdings in Apple were worth $3,814,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Trilogy Capital Inc. purchased a new stake in shares of Apple in the fourth quarter worth $381,000. Wealthstreet Investment Advisors LLC purchased a new stake in Apple during the fourth quarter valued at about $26,582,000. NuWave Investment Management LLC purchased a new stake in Apple during the fourth quarter valued at about $625,000. Evermay Wealth Management LLC raised its position in Apple by 25.6% during the fourth quarter. Evermay Wealth Management LLC now owns 28,649 shares of the iPhone maker’s stock valued at $4,848,000 after purchasing an additional 5,845 shares in the last quarter. Finally, Buckley Wealth Management LLC purchased a new stake in Apple during the fourth quarter valued at about $13,334,000. 58.51% of the stock is owned by institutional investors and hedge funds.

Apple stock traded down $3.50 during mid-day trading on Friday, hitting $216.30. The stock had a trading volume of 47,189,563 shares, compared to its average volume of 32,223,232. The company has a market capitalization of $1,080.35 billion, a P/E ratio of 23.49, a P/E/G ratio of 1.68 and a beta of 1.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. Apple Inc. has a one year low of $150.24 and a one year high of $233.47.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.16. The company had revenue of $53.27 billion during the quarter, compared to the consensus estimate of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. Apple’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 EPS. Analysts forecast that Apple Inc. will post 11.77 EPS for the current year.

AAPL has been the topic of a number of recent research reports. UBS Group initiated coverage on Apple in a research note on Wednesday, September 12th. Maxim Group raised their target price on Apple to $221.00 and gave the stock an “average” rating in a research note on Thursday, September 13th. Royal Bank of Canada raised their target price on Apple to $250.00 and gave the stock an “average” rating in a research note on Wednesday, September 26th. Zacks Investment Research raised Apple from a “hold” rating to a “buy” rating and set a $213.00 price objective on the stock in a research report on Wednesday, July 11th. Finally, Bank of America reaffirmed a “buy” rating and set a $230.00 price objective (up from $225.00) on shares of Apple in a research report on Tuesday, July 10th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirty-one have given a buy rating to the company. Apple has an average rating of “Buy” and an average target price of $224.63.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total value of $5,816,500.00. Following the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at approximately $24,554,471.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 20,000 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $206.58, for a total transaction of $4,131,600.00. Following the completion of the sale, the director now directly owns 1,153,283 shares in the company, valued at $238,245,202.14. The disclosure for this sale can be found here. Insiders have sold a total of 564,185 shares of company stock worth $124,444,213 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

See Also: Understanding Market Liquidity

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)


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