Asset Dedication LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,737 shares of the iPhone maker’s stock after buying an additional 1,326 shares during the quarter. Apple comprises 1.1% of Asset Dedication LLC’s holdings, making the stock its 24th biggest position. Asset Dedication LLC’s holdings in Apple were worth $3,091,000 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. Camden National Bank grew its stake in shares of Apple by 11.1% in the 2nd quarter. Camden National Bank now owns 4,636 shares of the iPhone maker’s stock worth $858,000 after purchasing an additional 463 shares during the last quarter. ING Groep NV grew its stake in shares of Apple by 4.7% in the 2nd quarter. ING Groep NV now owns 1,520,653 shares of the iPhone maker’s stock worth $281,488,000 after purchasing an additional 67,614 shares during the last quarter. Elite Wealth Management Inc. increased its position in shares of Apple by 5.1% in the second quarter. Elite Wealth Management Inc. now owns 38,509 shares of the iPhone maker’s stock worth $7,128,000 after acquiring an additional 1,875 shares in the last quarter. Azimuth Capital Management LLC increased its position in shares of Apple by 2.5% in the second quarter. Azimuth Capital Management LLC now owns 125,694 shares of the iPhone maker’s stock worth $23,267,000 after acquiring an additional 3,023 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its position in shares of Apple by 18.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 438,663 shares of the iPhone maker’s stock worth $81,201,000 after acquiring an additional 68,367 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.
NASDAQ AAPL opened at $165.48 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $813.36 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. Apple Inc. has a 12-month low of $150.24 and a 12-month high of $233.47.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.13. The firm had revenue of $62.90 billion during 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 company’s revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.07 earnings per share. As a group, analysts anticipate that Apple Inc. will post 13.33 EPS for the current fiscal year.
In other news, insider Chris Kondo sold 3,408 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $190.00, for a total value of $647,520.00. Following the completion of the sale, the insider now directly owns 8,940 shares in the company, valued at $1,698,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Angela J. Ahrendts sold 14,194 shares of the business’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the completion of the sale, the senior vice president now owns 105,538 shares of the company’s stock, valued at $24,058,442.48. The disclosure for this sale can be found here. Insiders sold 204,845 shares of company stock valued at $47,015,677 over the last quarter. Corporate insiders own 0.06% of the company’s stock.
AAPL has been the topic of several analyst reports. Tigress Financial reissued a “buy” rating on shares of Apple in a research report on Thursday, August 30th. Robert W. Baird set a $230.00 target price on shares of Apple and gave the stock a “buy” rating in a research report on Tuesday, September 4th. New Street Research reissued a “sell” rating on shares of Apple in a research report on Tuesday, September 18th. Needham & Company LLC lifted their target price on shares of Apple from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 13th. Finally, Citigroup dropped their target price on shares of Apple from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Three analysts have rated the stock with a sell rating, twenty-four have given a hold rating and twenty-four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $222.77.
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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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