Davis R M Inc. reduced its position in Apple Inc. (NASDAQ:AAPL) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,707 shares of the iPhone maker’s stock after selling 13,820 shares during the quarter. Apple accounts for approximately 3.0% of Davis R M Inc.’s investment portfolio, making the stock its largest holding. Davis R M Inc.’s holdings in Apple were worth $71,775,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc. grew its stake in shares of Apple by 0.6% during the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock worth $18,750,246,000 after acquiring an additional 834,854 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after acquiring an additional 3,845,363 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Apple by 3.0% during the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock worth $3,759,849,000 after acquiring an additional 771,046 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Apple by 301.3% during the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after acquiring an additional 15,018,790 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Apple by 1.5% during the second quarter. Swiss National Bank now owns 19,169,416 shares of the iPhone maker’s stock worth $2,760,779,000 after acquiring an additional 275,400 shares during the last quarter. Hedge funds and other institutional investors own 60.17% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Nomura set a $175.00 price target on Apple and gave the stock a “neutral” rating in a research note on Tuesday, December 19th. Instinet downgraded Apple from a “buy” rating to a “neutral” rating and set a $175.00 target price for the company. in a report on Tuesday, December 19th. Maxim Group lifted their target price on Apple from $193.00 to $204.00 and gave the stock a “buy” rating in a report on Friday. Loop Capital reaffirmed a “buy” rating and set a $200.00 target price on shares of Apple in a report on Friday, December 22nd. Finally, UBS Group set a $190.00 target price on Apple and gave the stock a “buy” rating in a report on Monday, November 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company. Apple presently has an average rating of “Buy” and a consensus price target of $198.94.
Shares of Apple Inc. (NASDAQ:AAPL) traded up $1.81 during trading hours on Friday, reaching $177.09. The company’s stock had a trading volume of 25,420,000 shares, compared to its average volume of 26,680,000. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a market cap of $909,240.00, a PE ratio of 19.27, a P/E/G ratio of 1.43 and a beta of 1.23. Apple Inc. has a 12 month low of $118.22 and a 12 month high of $177.36.
Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.50 EPS. analysts predict that Apple Inc. will post 11.18 EPS for the current year.
In other news, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $172.35, for a total transaction of $2,695,726.35. Following the completion of the transaction, the insider now directly owns 39,682 shares in the company, valued at approximately $6,839,192.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Johny Srouji sold 5,760 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total value of $1,004,544.00. Following the transaction, the senior vice president now owns 81,560 shares of the company’s stock, valued at $14,224,064. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,412 shares of company stock valued at $22,115,155. 0.08% of the stock is owned by company insiders.
Apple Company Profile
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.