Private Trust Co. NA cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,931 shares of the iPhone maker’s stock after selling 672 shares during the quarter. Apple makes up 3.1% of Private Trust Co. NA’s portfolio, making the stock its largest holding. Private Trust Co. NA’s holdings in Apple were worth $15,108,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Delphi Private Advisors LLC bought a new position in shares of Apple in the second quarter valued at about $120,000. Quattro Financial Advisors LLC bought a new position in shares of Apple in the first quarter valued at about $133,000. CX Institutional bought a new position in shares of Apple in the second quarter valued at about $135,000. Boston Standard Wealth Management LLC bought a new position in shares of Apple in the third quarter valued at about $204,000. Finally, Diversified Investment Strategies LLC bought a new position in shares of Apple in the second quarter valued at about $206,000. 57.08% of the stock is owned by institutional investors.

Apple stock opened at $146.83 on Tuesday. The stock has a market cap of $740.86 billion, a PE ratio of 12.70, a P/E/G ratio of 1.16 and a beta of 1.21. Apple Inc. has a 1 year low of $146.59 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.

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, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.13. The company had revenue of $62.90 billion during the quarter, compared to analyst estimates of $61.55 billion. Apple had a return on equity of 48.68% and a net margin of 22.41%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.07 EPS. Equities analysts forecast that Apple Inc. will post 13.15 EPS for the current year.

In other news, SVP Angela J. Ahrendts sold 14,194 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 105,538 shares in the company, valued at approximately $24,058,442.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total value of $5,816,500.00. Following the transaction, the senior vice president now owns 105,538 shares of the company’s stock, valued at $24,554,471.08. The disclosure for this sale can be found here. Insiders have sold a total of 204,845 shares of company stock valued at $47,015,677 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

AAPL has been the subject of a number of research analyst reports. Wedbush raised Apple to an “outperform” rating and cut their price target 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. Morgan Stanley lifted their price target on Apple from $226.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, November 8th. JPMorgan Chase & Co. set a $272.00 price target on Apple and gave the company a “buy” rating in a report on Monday, October 29th. UBS Group cut their price target on Apple from to and set a “buy” rating for the company in a report on Monday, November 12th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $240.00 price target on shares of Apple in a report on Monday, November 19th. Three research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $221.36.

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Apple 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.

Further Reading: How is the discount rate different from the Federal Funds rate?

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)




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