Apple Inc. (NASDAQ:AAPL) is Waddell & Reed Financial Inc.’s 2nd Largest Position

Waddell & Reed Financial Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,847,126 shares of the iPhone maker’s stock after selling 207,396 shares during the quarter. Apple accounts for approximately 3.2% of Waddell & Reed Financial Inc.’s holdings, making the stock its 2nd biggest holding. Waddell & Reed Financial Inc. owned 0.09% of Apple worth $978,286,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AAPL. Seven Post Investment Office LP boosted its stake in Apple by 0.7% in the 1st quarter. Seven Post Investment Office LP now owns 5,568 shares of the iPhone maker’s stock worth $1,416,000 after buying an additional 36 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Apple by 0.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 7,053 shares of the iPhone maker’s stock worth $2,071,000 after buying an additional 38 shares during the last quarter. Brendel Financial Advisors LLC boosted its stake in Apple by 4.2% in the 1st quarter. Brendel Financial Advisors LLC now owns 942 shares of the iPhone maker’s stock worth $240,000 after buying an additional 38 shares during the last quarter. Advisory Research Inc. boosted its stake in Apple by 2.9% in the 1st quarter. Advisory Research Inc. now owns 1,371 shares of the iPhone maker’s stock worth $349,000 after buying an additional 38 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its stake in Apple by 2.6% in the 1st quarter. HighMark Wealth Management LLC now owns 1,552 shares of the iPhone maker’s stock worth $395,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 62.04% of the company’s stock.

AAPL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Apple in a research note on Tuesday, June 23rd. Robert W. Baird raised their price target on Apple from $320.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Citigroup lifted their price objective on Apple from $310.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. HSBC raised Apple from a “reduce” rating to a “hold” rating and reduced their price objective for the company from $385.00 to $295.00 in a research note on Wednesday, June 10th. Finally, BidaskClub raised Apple from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 19th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $326.64.

AAPL stock opened at $364.80 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.14. Apple Inc. has a 52-week low of $192.58 and a 52-week high of $372.38. The stock’s 50 day moving average is $332.07 and its two-hundred day moving average is $299.73. The company has a market capitalization of $1,581.16 billion, a PE ratio of 28.61, a P/E/G ratio of 2.67 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.55 EPS for the quarter, topping the consensus estimate of $2.26 by $0.29. The company had revenue of $58.31 billion during the quarter, compared to analyst estimates of $54.64 billion. Apple had a return on equity of 64.49% and a net margin of 21.35%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 12.32 EPS for the current year.

In other news, SVP Deirdre O’brien sold 9,137 shares of Apple stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $285.12, for a total value of $2,605,141.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 41,062 shares of Apple stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $241.44, for a total value of $9,914,009.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,752 shares of company stock valued at $24,750,125. Insiders own 0.05% of the company’s stock.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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