Apple Inc. (AAPL) Position Reduced by Legal & General Group Plc

Legal & General Group Plc trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,269,986 shares of the iPhone maker’s stock after selling 290,751 shares during the quarter. Apple accounts for 3.4% of Legal & General Group Plc’s holdings, making the stock its largest holding. Legal & General Group Plc owned about 0.43% of Apple worth $4,801,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Selective Wealth Management purchased a new stake in Apple during the 3rd quarter worth about $194,000. Lawson Kroeker Investment Management Inc. NE purchased a new stake in Apple during the 3rd quarter worth about $201,000. Leith Wheeler Investment Counsel Ltd. purchased a new stake in Apple during the 3rd quarter worth about $201,000. Boston Standard Wealth Management LLC purchased a new stake in Apple during the 3rd quarter worth about $204,000. Finally, Diversified Investment Strategies LLC purchased a new stake in Apple during the 2nd quarter worth about $206,000. 56.40% of the stock is owned by hedge funds and other institutional investors.

AAPL opened at $186.12 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.79. The company has a market cap of $889.20 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 1.85 and a beta of 1.13. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $233.47.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, January 29th. The iPhone maker reported $4.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.17 by $0.01. The firm had revenue of $84.31 billion during the quarter, compared to the consensus estimate of $84.07 billion. Apple had a return on equity of 50.92% and a net margin of 22.72%. On average, equities research analysts expect that Apple Inc. will post 11.38 earnings per share for the current fiscal year.

In other Apple news, Director Arthur D. Levinson sold 1,521 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $167.71, for a total transaction of $255,086.91. Following the transaction, the director now owns 1,134,804 shares in the company, valued at approximately $190,317,978.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.

AAPL has been the subject of several research reports. JPMorgan Chase & Co. reissued a “buy” rating and issued a $228.00 target price on shares of Apple in a report on Friday, January 11th. Royal Bank of Canada reissued a “buy” rating and issued a $185.00 target price on shares of Apple in a report on Friday, January 18th. Rosenblatt Securities set a $165.00 target price on Apple and gave the company a “neutral” rating in a report on Thursday, December 6th. ValuEngine downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $145.69 target price for the company. in a report on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and twenty-four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $193.19.

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About Apple

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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