Washington Trust Bank raised its holdings in shares of Apple (NASDAQ:AAPL) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,017 shares of the iPhone maker’s stock after purchasing an additional 1,689 shares during the quarter. Apple makes up 2.1% of Washington Trust Bank’s holdings, making the stock its 5th biggest position. Washington Trust Bank’s holdings in Apple were worth $14,218,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in AAPL. Blue Sky Asset Management LLC bought a new position in Apple during the 2nd quarter worth $108,000. FNY Managed Accounts LLC increased its position in Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares during the period. Private Vista LLC bought a new position in Apple during the 2nd quarter worth $122,000. Armbruster Capital Management Inc. increased its position in Apple by 9.4% during the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after buying an additional 78 shares during the period. Finally, Crow Point Partners LLC increased its position in Apple by 100.0% during the 3rd quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock worth $153,000 after buying an additional 500 shares during the period. 61.33% of the stock is owned by institutional investors and hedge funds.
Shares of Apple stock opened at $178.02 on Monday. Apple has a 12 month low of $138.62 and a 12 month high of $183.50. The company has a market capitalization of $903,275.88, a PE ratio of 18.30, a PEG ratio of 1.34 and a beta of 1.19. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24.
Several research analysts have weighed in on the company. BidaskClub cut Apple from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. BMO Capital Markets cut Apple from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $162.00 to $166.00 in a research report on Wednesday, January 31st. William Blair reiterated an “outperform” rating on shares of Apple in a research report on Friday, February 2nd. Bank of America reiterated an “outperform” rating and set a $220.00 price objective on shares of Apple in a research report on Thursday, February 8th. Finally, Longbow Research cut Apple from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. Apple presently has an average rating of “Buy” and an average price target of $201.53.
In related news, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the transaction, the insider now directly owns 13,739 shares of the company’s stock, valued at $2,401,302.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by insiders.
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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.
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