Triangle Securities Wealth Management lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,181 shares of the iPhone maker’s stock after selling 716 shares during the quarter. Apple accounts for 1.5% of Triangle Securities Wealth Management’s investment portfolio, making the stock its 16th largest holding. Triangle Securities Wealth Management’s holdings in Apple were worth $2,750,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Delphi Private Advisors LLC purchased a new position in shares of Apple in the 2nd quarter valued at about $120,000. Quattro Financial Advisors LLC purchased a new position in shares of Apple in the 1st quarter valued at about $133,000. CX Institutional purchased a new position in shares of Apple in the 2nd quarter valued at about $135,000. Gainplan LLC purchased a new position in shares of Apple in the 1st quarter valued at about $200,000. Finally, Boston Standard Wealth Management LLC purchased a new position in shares of Apple in the 3rd quarter valued at about $204,000. Institutional investors own 57.08% of the company’s stock.
A number of equities analysts have recently issued reports on AAPL shares. Tigress Financial reiterated a “buy” rating on shares of Apple in a report on Thursday, August 30th. Robert W. Baird set a $230.00 price target on shares of Apple and gave the company a “buy” rating in a report on Tuesday, September 4th. New Street Research reiterated a “sell” rating on shares of Apple in a report on Tuesday, September 18th. Needham & Company LLC increased their price target on shares of Apple from $220.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, September 13th. Finally, Citigroup cut their price target on shares of Apple from $265.00 to $240.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Three investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and twenty-four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $221.36.
In other news, insider Luca Maestri sold 100,245 shares of Apple stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $228.56, for a total transaction of $22,911,997.20. Following the sale, the insider now owns 91,665 shares in the company, valued at $20,950,952.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 61,998 shares of Apple stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $232.33, for a total transaction of $14,403,995.34. Following the sale, the chief operating officer now owns 124,695 shares in the company, valued at approximately $28,970,389.35. The disclosure for this sale can be found here. Insiders have sold 204,845 shares of company stock worth $47,015,677 in the last quarter. Insiders own 0.06% of the company’s stock.
Apple stock opened at $156.83 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.09 and a current ratio of 1.12. Apple Inc. has a 12-month low of $150.24 and a 12-month high of $233.47. The stock has a market cap of $790.80 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.18 and a beta of 1.20.
Apple (NASDAQ:AAPL) last released 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. Apple had a net margin of 22.41% and a return on equity of 48.68%. The business had revenue of $62.90 billion for the quarter, compared to analysts’ expectations of $61.55 billion. During the same period last year, the company earned $2.07 earnings per share. The company’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 13.23 EPS for the current fiscal 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.
Further Reading: Beta
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