Bedel Financial Consulting Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,283 shares of the iPhone maker’s stock after buying an additional 254 shares during the quarter. Apple comprises 2.6% of Bedel Financial Consulting Inc.’s investment portfolio, making the stock its 3rd biggest position. Bedel Financial Consulting Inc.’s holdings in Apple were worth $3,839,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Royal London Asset Management Ltd. bought a new stake in Apple during the 2nd quarter worth approximately $385,873,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Apple by 6.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock worth $3,148,443,000 after acquiring an additional 1,030,981 shares during the period. Bank of Nova Scotia increased its holdings in Apple by 52.6% during the 2nd quarter. Bank of Nova Scotia now owns 1,578,812 shares of the iPhone maker’s stock worth $292,261,000 after acquiring an additional 544,275 shares during the period. Itau Unibanco Holding S.A. increased its holdings in Apple by 149.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 644,086 shares of the iPhone maker’s stock worth $119,220,000 after acquiring an additional 385,707 shares during the period. Finally, J. L. Bainbridge & Co. Inc. bought a new stake in Apple during the 2nd quarter worth approximately $66,170,000. Institutional investors own 56.28% of the company’s stock.
A number of equities analysts have recently commented on AAPL shares. Loop Capital decreased their price target on shares of Apple to $225.00 and set a “buy” rating on the stock in a report on Monday, November 26th. Royal Bank of Canada decreased their price target on shares of Apple to $235.00 and set an “outperform” rating on the stock in a report on Tuesday, November 27th. UBS Group reissued a “buy” rating and issued a $225.00 price target on shares of Apple in a report on Tuesday, November 27th. BidaskClub lowered shares of Apple from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. Finally, Wedbush raised shares of Apple to an “outperform” rating and reduced their target price for the company from $310.00 to $275.00 in a report on Wednesday, November 28th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twenty-one have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $196.09.
In other Apple news, Director Arthur D. Levinson sold 1,521 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $167.71, for a total transaction of $255,086.91. Following the transaction, the director now owns 1,134,804 shares in the company, valued at $190,317,978.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.05% of the company’s stock.
AAPL traded down $4.04 during trading hours on Friday, hitting $191.05. The company’s stock had a trading volume of 41,314,308 shares, compared to its average volume of 31,851,504. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $233.47. The stock has a market capitalization of $924.83 billion, a PE ratio of 16.04, a P/E/G ratio of 1.93 and a beta of 1.13. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.25 and a current ratio of 1.30.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share for the quarter, topping the consensus estimate of $4.17 by $0.01. Apple had a net margin of 22.72% and a return on equity of 50.92%. The company had revenue of $84.31 billion for the quarter, compared to analysts’ expectations of $84.07 billion. As a group, research analysts forecast that Apple Inc. will post 11.38 earnings per share for the current year.
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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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