Veritable L.P. Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

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Veritable L.P. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,485 shares of the iPhone maker’s stock after selling 1,923 shares during the period. Apple makes up approximately 0.9% of Veritable L.P.’s investment portfolio, making the stock its 20th biggest position. Veritable L.P.’s holdings in Apple were worth $47,003,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of AAPL. Monument Capital Management increased its holdings in Apple by 2.2% during the second quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock valued at $491,000 after buying an additional 53 shares during the period. Pictet North America Advisors SA increased its holdings in Apple by 3.3% during the second quarter. Pictet North America Advisors SA now owns 131,021 shares of the iPhone maker’s stock valued at $25,932,000 after buying an additional 4,170 shares during the period. Rockland Trust Co. increased its holdings in Apple by 4.8% during the second quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock valued at $4,081,000 after buying an additional 948 shares during the period. Fiera Capital Corp increased its holdings in Apple by 2.0% during the second quarter. Fiera Capital Corp now owns 478,731 shares of the iPhone maker’s stock valued at $94,749,000 after buying an additional 9,473 shares during the period. Finally, Asset Dedication LLC increased its holdings in Apple by 0.4% during the second quarter. Asset Dedication LLC now owns 19,862 shares of the iPhone maker’s stock valued at $3,933,000 after buying an additional 79 shares during the period. Hedge funds and other institutional investors own 58.63% of the company’s stock.

Apple stock traded down $0.64 during trading on Thursday, reaching $222.13. The company had a trading volume of 5,497,552 shares, compared to its average volume of 25,341,180. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $233.47. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $993.77 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.82 and a beta of 1.24. The firm’s 50-day simple moving average is $208.51 and its 200 day simple moving average is $197.85.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.08. The company had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $2.34 earnings per share. On average, analysts predict that Apple Inc. will post 11.68 earnings per share for the current year.

A number of brokerages recently issued reports on AAPL. Longbow Research reiterated a “hold” rating on shares of Apple in a research report on Tuesday, September 10th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $265.00 target price (up previously from $245.00) on shares of Apple in a research report on Wednesday, July 31st. Loop Capital increased their target price on shares of Apple to $200.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Macquarie set a $210.00 target price on shares of Apple and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Raymond James upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $250.00 target price for the company in a research report on Thursday, July 18th. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $217.25.

In related news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.17, for a total value of $54,668,037.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $201.69, for a total value of $3,529,575.00. Following the completion of the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at approximately $232,101,423.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,536 shares of company stock valued at $62,894,611. 0.05% of the stock is currently owned by company insiders.

Apple Profile

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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