Princeton Global Asset Management LLC Boosts Stock Position in Apple Inc. (NASDAQ:AAPL)

Princeton Global Asset Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 33.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,921 shares of the iPhone maker’s stock after buying an additional 3,464 shares during the period. Apple accounts for about 1.7% of Princeton Global Asset Management LLC’s holdings, making the stock its 13th largest holding. Princeton Global Asset Management LLC’s holdings in Apple were worth $2,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its stake in Apple by 2,874.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock valued at $7,108,275,000 after purchasing an additional 34,707,634 shares during the last quarter. Thoroughbred Financial Services LLC boosted its stake in Apple by 19,949.3% during the 2nd 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 stake in Apple during the 2nd quarter valued at $809,074,000. Renaissance Technologies LLC purchased a new stake in Apple during the 2nd quarter valued at $459,677,000. Finally, Morgan Stanley boosted its stake in Apple by 5.8% during the 2nd 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. Institutional investors own 58.63% of the company’s stock.

Apple stock traded up $6.19 during trading on Friday, reaching $227.01. The company had a trading volume of 32,353,046 shares, compared to its average volume of 28,176,304. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $232.35. The firm’s 50-day simple moving average is $213.84 and its 200 day simple moving average is $201.27. The firm has a market capitalization of $1,025.90 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 1.97 and a beta of 1.24. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping the Zacks’ 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 company had revenue of $53.81 billion for the quarter, compared to analysts’ expectations of $53.39 billion. During the same period last year, the firm earned $2.34 EPS. Apple’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 11.68 earnings per share for the current year.

Several analysts have commented on the company. Wedbush reiterated an “outperform” rating on shares of Apple in a research note on Wednesday. Credit Suisse Group set a $209.00 target price on Apple and gave the company a “neutral” rating in a research note on Friday. Maxim Group dropped their price target on Apple from $211.00 to $204.00 and set a “hold” rating on the stock in a research note on Wednesday, September 11th. Macquarie set a $210.00 price target on Apple and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, DZ Bank restated a “neutral” rating on shares of Apple in a research note on Wednesday, September 11th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $220.53.

In other Apple news, COO Jeffrey E. Williams sold 67,554 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $219.04, for a total transaction of $14,797,028.16. Following the sale, the chief operating officer now directly owns 237,517 shares of the company’s stock, valued at $52,025,723.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 372,090 shares of company stock worth $77,691,639. Insiders own 0.05% of the company’s stock.

About Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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