Scharf Investments LLC Sells 537 Shares of Apple Inc. (NASDAQ:AAPL)

Scharf Investments LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,404 shares of the iPhone maker’s stock after selling 537 shares during the period. Apple comprises approximately 0.0% of Scharf Investments LLC’s holdings, making the stock its 29th largest holding. Scharf Investments LLC’s holdings in Apple were worth $1,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Centaurus Financial Inc. lifted its stake in shares of Apple by 17.9% in the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after purchasing an additional 1,262 shares during the period. Semmax Financial Advisors Inc. acquired a new position in shares of Apple in the 4th quarter valued at $50,000. Avondale Wealth Management lifted its stake in shares of Apple by 25.4% in the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after purchasing an additional 64 shares during the period. NuWave Investment Management LLC lifted its stake in shares of Apple by 2,245.0% in the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 449 shares during the period. Finally, Horan Securities Inc. lifted its stake in shares of Apple by 64.2% in the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds own 58.63% of the company’s stock.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.17, for a total value of $54,668,037.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $214.02, for a total value of $3,745,350.00. Following the completion of the sale, the director now directly owns 1,150,783 shares in the company, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. Insiders sold a total of 304,536 shares of company stock worth $62,894,611 in the last three months. Company insiders own 0.05% of the company’s stock.



AAPL has been the topic of a number of analyst reports. DA Davidson increased their price target on Apple to $270.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Monness Crespi & Hardt reissued a “buy” rating and issued a $265.00 price target (up previously from $245.00) on shares of Apple in a research note on Wednesday, July 31st. Needham & Company LLC increased their price target on Apple from $225.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 11th. Rosenblatt Securities set a $150.00 price target on Apple and gave the company a “sell” rating in a research note on Friday, September 13th. Finally, Bank of America reissued a “buy” rating and issued a $250.00 price target (up previously from $240.00) on shares of Apple in a research note on Wednesday, September 11th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $219.47.

Shares of AAPL traded down $0.38 during midday trading on Tuesday, hitting $218.34. The stock had a trading volume of 12,464,425 shares, compared to its average volume of 25,669,308. The company has a 50 day simple moving average of $209.55 and a two-hundred day simple moving average of $198.94. Apple Inc. has a twelve month low of $142.00 and a twelve month high of $233.47. The firm has a market cap of $984.91 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.79 and a beta of 1.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The firm had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. During the same quarter last year, the business posted $2.34 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts forecast that Apple Inc. will post 11.69 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: What is the cash asset ratio?

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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