Townsquare Capital LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,544 shares of the iPhone maker’s stock after selling 915 shares during the period. Apple accounts for 1.3% of Townsquare Capital LLC’s investment portfolio, making the stock its 19th biggest position. Townsquare Capital LLC’s holdings in Apple were worth $16,634,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Korea Investment CORP lifted its stake in Apple by 6.3% in the 4th quarter. Korea Investment CORP now owns 3,753,051 shares of the iPhone maker’s stock worth $1,102,083,000 after purchasing an additional 221,800 shares in the last quarter. Atlas Private Wealth Management purchased a new stake in Apple in the 4th quarter worth approximately $4,730,000. Blair William & Co. IL lifted its stake in Apple by 2.0% in the 4th quarter. Blair William & Co. IL now owns 2,568,117 shares of the iPhone maker’s stock worth $754,128,000 after purchasing an additional 49,316 shares in the last quarter. Altshuler Shaham Ltd lifted its stake in Apple by 2,180.0% in the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 109 shares in the last quarter. Finally, Capital International Ltd. CA lifted its stake in Apple by 37.6% in the 4th quarter. Capital International Ltd. CA now owns 16,051 shares of the iPhone maker’s stock worth $4,713,000 after purchasing an additional 4,382 shares in the last quarter. 62.04% of the stock is owned by institutional investors.
Several research firms have issued reports on AAPL. Cowen increased their target price on shares of Apple from $335.00 to $400.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Wedbush increased their target price on shares of Apple from $375.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Tigress Financial reiterated a “buy” rating on shares of Apple in a research note on Tuesday, April 14th. Nomura Securities raised their price objective on shares of Apple from $225.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, Jefferies Financial Group raised their price objective on shares of Apple from $370.00 to $405.00 and gave the company a “buy” rating in a research report on Friday, June 19th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Apple currently has an average rating of “Buy” and a consensus target price of $326.64.
Shares of Apple stock opened at $364.80 on Wednesday. The firm has a market cap of $1,581.16 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. Apple Inc. has a 12-month low of $192.58 and a 12-month high of $372.38. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.14. The company’s fifty day simple moving average is $332.07 and its two-hundred day simple moving average is $299.73.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.29. The business had revenue of $58.31 billion for the quarter, compared to analyst estimates of $54.64 billion. Apple had a net margin of 21.35% and a return on equity of 64.49%. The company’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 expect that Apple Inc. will post 12.32 earnings per share for the current fiscal year.
In other news, SVP Deirdre O’brien sold 9,137 shares of Apple stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $285.12, for a total transaction of $2,605,141.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,491 shares of Apple stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the sale, the insider now directly owns 7,370 shares in the company, valued at approximately $2,252,419.40. The disclosure for this sale can be found here. In the last three months, insiders sold 95,752 shares of company stock worth $24,750,125. Insiders own 0.05% of the company’s stock.
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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