American Research & Management Co. Decreases Position in Apple Inc. (AAPL)

American Research & Management Co. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% during the 2nd quarter, Holdings Channel reports. The firm owned 37,536 shares of the iPhone maker’s stock after selling 500 shares during the period. Apple comprises 2.4% of American Research & Management Co.’s investment portfolio, making the stock its 12th largest position. American Research & Management Co.’s holdings in Apple were worth $6,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Summit Trail Advisors LLC grew its holdings in Apple by 17,669.4% during the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after acquiring an additional 20,067,124 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Apple by 1.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 19,610,272 shares of the iPhone maker’s stock worth $3,290,212,000 after acquiring an additional 347,970 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in Apple by 18,553.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock worth $89,526,000 after acquiring an additional 16,668,866 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Apple by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 16,158,094 shares of the iPhone maker’s stock worth $2,711,005,000 after acquiring an additional 55,050 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Apple by 0.4% during the 1st quarter. American Century Companies Inc. now owns 14,064,371 shares of the iPhone maker’s stock worth $2,359,720,000 after acquiring an additional 60,860 shares during the last quarter. 58.43% of the stock is currently owned by institutional investors.

Apple stock opened at $218.86 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. Apple Inc. has a 12-month low of $150.24 and a 12-month high of $233.47. The firm has a market cap of $1,063.14 billion, a P/E ratio of 23.76, a P/E/G ratio of 1.62 and a beta of 1.36.



Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The company had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $52.43 billion. During the same quarter in the previous year, the company earned $1.67 EPS. Apple’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 11.77 EPS for the current fiscal year.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the transaction, the senior vice president now owns 105,538 shares in the company, valued at approximately $24,554,471.08. The disclosure for this sale can be found here. Insiders have sold a total of 544,185 shares of company stock worth $120,312,613 in the last quarter. 0.06% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the stock. BTIG Research raised shares of Apple to a “buy” rating and boosted their target price for the stock from $207.00 to $235.00 in a report on Wednesday, August 1st. Macquarie set a $214.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, August 15th. Morgan Stanley reissued a “buy” rating and set a $232.00 target price on shares of Apple in a report on Wednesday, August 22nd. S&P Equity Research boosted their target price on shares of Apple to $250.00 and gave the stock an “in-line” rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. Finally, UBS Group initiated coverage on shares of Apple in a research report on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $225.51.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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