Smithbridge Asset Management Inc. DE decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,157 shares of the iPhone maker’s stock after selling 1,235 shares during the period. Apple comprises about 4.3% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Apple were worth $6,693,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the business. Quattro Financial Advisors LLC bought a new stake in shares of Apple in the first quarter worth $133,000. Smart Portfolios LLC bought a new stake in Apple during the first quarter valued at about $134,000. CX Institutional bought a new stake in Apple during the second quarter valued at about $135,000. Spectrum Financial Alliance Ltd LLC bought a new stake in Apple during the first quarter valued at about $138,000. Finally, Macroview Investment Management LLC grew its holdings in Apple by 220.3% during the first quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock valued at $151,000 after purchasing an additional 619 shares during the period. 58.58% of the stock is owned by institutional investors and hedge funds.
Shares of Apple stock opened at $222.11 on Friday. Apple Inc. has a 52 week low of $150.24 and a 52 week high of $233.47. The stock has a market capitalization of $1,109.54 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 1.99 and a beta of 1.36. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84.
AAPL has been the subject of several recent research reports. UBS Group initiated coverage on Apple in a report on Wednesday, September 12th. Maxim Group boosted their price target on Apple to $221.00 and gave the company an “average” rating in a report on Thursday, September 13th. Royal Bank of Canada boosted their price target on Apple to $250.00 and gave the company an “average” rating in a report on Wednesday, September 26th. BidaskClub raised Apple from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Finally, Guggenheim reissued a “buy” rating and set a $225.00 price target on shares of Apple in a report on Tuesday, July 24th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $221.63.
In related news, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total value of $5,816,500.00. Following the sale, the senior vice president now directly owns 105,538 shares in the company, valued at $24,554,471.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Angela J. Ahrendts sold 14,194 shares of the business’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $227.96, for a total value 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 564,185 shares of company stock worth $124,444,213 over the last quarter. 0.06% of the stock is owned by company insiders.
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.
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