Apple Inc. (AAPL) Shares Sold by Louisiana State Employees Retirement System

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Louisiana State Employees Retirement System trimmed its position in Apple Inc. (NASDAQ:AAPL) by 6.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 289,300 shares of the iPhone maker’s stock after selling 20,500 shares during the period. Apple comprises 2.4% of Louisiana State Employees Retirement System’s investment portfolio, making the stock its biggest position. Louisiana State Employees Retirement System’s holdings in Apple were worth $53,552,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Tompkins Financial Corp grew its position in Apple by 1.3% in the 2nd quarter. Tompkins Financial Corp now owns 67,656 shares of the iPhone maker’s stock worth $12,523,000 after purchasing an additional 895 shares in the last quarter. Jentner Corp bought a new stake in Apple in the 2nd quarter worth about $208,000. Westpac Banking Corp grew its position in Apple by 3.7% in the 2nd quarter. Westpac Banking Corp now owns 582,747 shares of the iPhone maker’s stock worth $107,872,000 after purchasing an additional 20,750 shares in the last quarter. Pendal Group Ltd grew its position in Apple by 10.7% in the 2nd quarter. Pendal Group Ltd now owns 428,990 shares of the iPhone maker’s stock worth $79,410,000 after purchasing an additional 41,347 shares in the last quarter. Finally, Central Bank & Trust Co. grew its position in Apple by 0.8% in the 2nd quarter. Central Bank & Trust Co. now owns 43,616 shares of the iPhone maker’s stock worth $8,073,000 after purchasing an additional 328 shares in the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

In other Apple news, Director Arthur D. Levinson sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $206.58, for a total value of $4,131,600.00. Following the sale, the director now directly owns 1,153,283 shares in the company, valued at approximately $238,245,202.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Angela J. Ahrendts sold 14,194 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 105,538 shares in the company, valued at $24,058,442.48. The disclosure for this sale can be found here. Insiders sold a total of 564,185 shares of company stock worth $124,444,213 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Shares of AAPL stock opened at $222.11 on Friday. The company has a market cap of $1,109.54 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 1.99 and a beta of 1.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. Apple Inc. has a 12 month low of $150.24 and a 12 month high of $233.47.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.16. The company had revenue of $53.27 billion for the quarter, compared to analysts’ expectations of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. Apple’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 EPS. As a group, research analysts forecast that Apple Inc. will post 11.76 EPS for the current year.

A number of research firms have recently weighed in on AAPL. Atlantic Securities reissued a “neutral” rating and set a $205.00 target price on shares of Apple in a research report on Wednesday, August 1st. BMO Capital Markets increased their target price on shares of Apple from $184.00 to $199.00 and gave the company a “market perform” rating in a research report on Wednesday, August 1st. They noted that the move was a valuation call. UBS Group set a $250.00 target price on shares of Apple and gave the company a “buy” rating in a research report on Monday, October 8th. Macquarie reissued a “buy” rating and set a $214.00 target price on shares of Apple in a research report on Wednesday, August 1st. Finally, Sanford C. Bernstein reissued a “neutral” rating and set a $200.00 target price on shares of Apple in a research report on Wednesday, August 1st. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirty have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $221.63.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

Read More: Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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