Hennessy Advisors Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,171 shares of the iPhone maker’s stock after selling 1,257 shares during the quarter. Hennessy Advisors Inc.’s holdings in Apple were worth $4,161,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kahn Brothers Group Inc. DE acquired a new stake in shares of Apple in the 3rd quarter valued at about $112,000. Belvedere Advisors LLC acquired a new stake in shares of Apple in the 2nd quarter valued at about $119,000. Fulcrum Equity Management acquired a new stake in shares of Apple in the 3rd quarter valued at about $135,000. Poplar Forest Capital LLC acquired a new stake in shares of Apple in the 3rd quarter valued at about $205,000. Finally, S&T Bank PA acquired a new stake in shares of Apple in the 2nd quarter valued at about $207,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Arthur D. Levinson sold 37,394 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the completion of the sale, the director now owns 1,170,677 shares in the company, valued at $301,788,823.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.05% of the company’s stock.
A number of analysts recently issued reports on the company. Barclays lifted their target price on Apple from $224.00 to $236.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Deutsche Bank lifted their target price on Apple from $210.00 to $230.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. They noted that the move was a valuation call. Longbow Research raised Apple from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Thursday, October 10th. Maxim Group downgraded Apple to a “sell” rating and set a $190.00 target price on the stock. in a research report on Wednesday, December 4th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and issued a $150.00 target price on shares of Apple in a research report on Monday, December 9th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Apple has an average rating of “Hold” and an average price target of $274.36.
Shares of NASDAQ AAPL opened at $312.68 on Wednesday. The business’s 50 day moving average price is $283.66 and its two-hundred day moving average price is $237.71. The company has a market cap of $1,360.50 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.25. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01. Apple Inc. has a twelve month low of $150.05 and a twelve month high of $317.57.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.19. The firm had revenue of $64.04 billion for the quarter, compared to the consensus estimate of $62.86 billion. Apple had a return on equity of 53.82% and a net margin of 21.24%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.91 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 13.15 EPS for the current fiscal year.
Apple Company 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.
Further Reading: Dividend
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