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.
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.
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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