Apple Inc. (AAPL) is Butensky & Cohen Financial Security Inc.’s Largest Position

Butensky & Cohen Financial Security Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 5.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 13,045 shares of the iPhone maker’s stock after selling 791 shares during the period. Apple comprises about 2.0% of Butensky & Cohen Financial Security Inc.’s investment portfolio, making the stock its biggest holding. Butensky & Cohen Financial Security Inc.’s holdings in Apple were worth $2,415,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Quattro Financial Advisors LLC purchased a new stake in Apple in the 1st quarter worth approximately $133,000. Smart Portfolios LLC purchased a new stake in Apple in the 1st quarter worth approximately $134,000. CX Institutional purchased a new stake in Apple in the 2nd quarter worth approximately $135,000. Spectrum Financial Alliance Ltd LLC purchased a new stake in Apple in the 1st quarter worth approximately $138,000. Finally, Macroview Investment Management LLC lifted its position in Apple by 220.3% in the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after buying an additional 619 shares in the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:AAPL opened at $222.11 on Friday. Apple Inc. has a 1 year low of $150.24 and a 1 year high of $233.47. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $1,109.54 billion, a P/E ratio of 24.12, a PEG ratio of 1.99 and a beta of 1.36.

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

A number of equities research analysts have issued reports on the stock. BTIG Research upgraded shares of Apple to a “buy” rating and increased their target price for the stock from $207.00 to $235.00 in a research report on Wednesday, August 1st. Macquarie set a $214.00 target price on shares of Apple and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Morgan Stanley reiterated a “buy” rating and issued a $232.00 target price on shares of Apple in a research report on Wednesday, August 22nd. S&P Equity Research raised their price target on shares of Apple to $250.00 and gave the company an “in-line” rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. Finally, UBS Group started coverage on shares of Apple in a report on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirty have given a buy rating to the company. Apple has an average rating of “Buy” and a consensus target price of $221.63.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total value of $5,816,500.00. Following the transaction, the senior vice president now directly owns 105,538 shares in the company, valued at approximately $24,554,471.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Angela J. Ahrendts sold 14,194 shares of the firm’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the completion of the transaction, 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. 0.06% 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 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: Intrinsic Value

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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