SevenBridge Financial Group LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,977 shares of the iPhone maker’s stock after purchasing an additional 61 shares during the quarter. Apple comprises about 5.2% of SevenBridge Financial Group LLC’s holdings, making the stock its biggest holding. SevenBridge Financial Group LLC’s holdings in Apple were worth $9,850,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of AAPL. Nuveen Asset Management LLC raised its holdings in Apple by 2,874.9% in the second quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock valued at $7,108,275,000 after acquiring an additional 34,707,634 shares in the last quarter. Thoroughbred Financial Services LLC increased its stake in Apple by 19,949.3% in the second quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock valued at $1,005,513,000 after purchasing an additional 10,004,976 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Apple in the second quarter valued at approximately $809,074,000. Renaissance Technologies LLC purchased a new position in Apple in the second quarter valued at approximately $459,677,000. Finally, Morgan Stanley increased its stake in Apple by 5.8% in the second quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock valued at $7,176,836,000 after purchasing an additional 1,996,126 shares during the last quarter. 58.63% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have commented on AAPL. UBS Group set a $235.00 price target on shares of Apple and gave the company a “buy” rating in a research note on Thursday, September 26th. Goldman Sachs Group set a $165.00 price target on shares of Apple and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. ValuEngine lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Monday. Piper Jaffray Companies set a $243.00 price target on shares of Apple and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group upgraded shares of Apple from a “hold” rating to a “buy” rating and increased their price target for the company from $210.00 to $260.00 in a research note on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $221.64.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The company had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. During the same quarter last year, the company earned $2.34 earnings per share. Apple’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 11.68 earnings per share for the current year.
In other Apple news, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total value of $951,648.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 67,554 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $219.04, for a total value of $14,797,028.16. Following the completion of the sale, the chief operating officer now directly owns 237,517 shares of the company’s stock, valued at approximately $52,025,723.68. The disclosure for this sale can be found here. In the last three months, insiders sold 372,090 shares of company stock valued at $77,691,639. 0.05% of the stock is owned by corporate insiders.
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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