Baillie Gifford & Co. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 79.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,120 shares of the iPhone maker’s stock after selling 554,055 shares during the period. Baillie Gifford & Co.’s holdings in Apple were worth $16,692,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Orrstown Financial Services Inc. increased its stake in Apple by 2.3% in the third quarter. Orrstown Financial Services Inc. now owns 17,726 shares of the iPhone maker’s stock valued at $2,004,000 after buying an additional 394 shares during the period. AT Bancorp increased its stake in Apple by 38.7% in the third quarter. AT Bancorp now owns 50,137 shares of the iPhone maker’s stock valued at $5,667,000 after buying an additional 13,978 shares during the period. First PREMIER Bank increased its stake in Apple by 2.4% in the third quarter. First PREMIER Bank now owns 20,750 shares of the iPhone maker’s stock valued at $2,346,000 after buying an additional 481 shares during the period. Toth Financial Advisory Corp boosted its position in shares of Apple by 35.8% in the third quarter. Toth Financial Advisory Corp now owns 13,061 shares of the iPhone maker’s stock worth $1,477,000 after buying an additional 3,443 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new position in shares of Apple during the third quarter worth about $203,000. 58.76% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Apple Inc. (NASDAQ:AAPL) opened at 141.20 on Wednesday. The company has a market capitalization of $740.81 billion, a P/E ratio of 16.95 and a beta of 1.26. Apple Inc. has a one year low of $89.47 and a one year high of $145.46. The firm has a 50-day moving average of $141.18 and a 200-day moving average of $124.12.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, January 31st. The iPhone maker reported $3.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.14. Apple had a return on equity of 34.94% and a net margin of 20.73%. The business earned $78.35 billion during the quarter, compared to the consensus estimate of $77.37 billion. During the same period last year, the company earned $3.28 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post $8.95 earnings per share for the current year.

AAPL has been the subject of a number of analyst reports. Bank of America Corp lifted their price objective on shares of Apple from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, January 19th. Guggenheim lifted their price objective on shares of Apple from $150.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. Credit Suisse Group AG reiterated an “outperform” rating and set a $150.00 price objective on shares of Apple in a report on Wednesday, February 1st. Drexel Hamilton reiterated a “buy” rating and set a $185.00 price objective on shares of Apple in a report on Friday, March 10th. Finally, Cowen and Company reiterated an “outperform” rating and set a $155.00 price objective (up from $135.00) on shares of Apple in a report on Thursday, March 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $146.82.

In other news, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $143.98, for a total transaction of $1,720,417.02. Following the completion of the transaction, the insider now directly owns 35,847 shares in the company, valued at approximately $5,161,251.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP D Bruce Sewell sold 75,000 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $128.43, for a total value of $9,632,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 466,644 shares of company stock valued at $60,894,327. Company insiders own 0.08% of the company’s stock.

About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

The article first appeared in sportsperspectives.com