Manchester Financial Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,405 shares of the iPhone maker’s stock after selling 170 shares during the period. Apple makes up about 1.4% of Manchester Financial Inc.’s holdings, making the stock its 11th biggest holding. Manchester Financial Inc.’s holdings in Apple were worth $3,226,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its holdings in Apple by 2,874.9% in 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 in the last quarter. Thoroughbred Financial Services LLC increased its holdings in Apple by 19,949.3% in 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 in the last quarter. Great West Life Assurance Co. Can acquired a new stake in Apple in the 2nd quarter valued at $809,074,000. Renaissance Technologies LLC acquired a new stake in Apple in the 2nd quarter valued at $459,677,000. Finally, Morgan Stanley increased its holdings in Apple by 5.8% in 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 in the last quarter. Institutional investors and hedge funds own 58.63% of the company’s stock.
NASDAQ:AAPL traded up $1.81 on Wednesday, reaching $226.21. The stock had a trading volume of 2,649,488 shares, compared to its average volume of 30,093,834. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average of $215.63 and a 200 day moving average of $202.07. The stock has a market cap of $1,014.10 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $229.93.
In other news, Director Arthur D. Levinson sold 17,500 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $214.02, for a total transaction of $3,745,350.00. Following the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at $246,290,577.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,376 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The disclosure for this sale can be found here. Insiders have sold 372,090 shares of company stock worth $77,691,639 in the last ninety days. Corporate insiders own 0.05% of the company’s stock.
Several brokerages recently issued reports on AAPL. Macquarie set a $210.00 price target on Apple and gave the company a “hold” rating in a report on Tuesday, September 10th. Jefferies Financial Group upgraded 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 report on Tuesday, September 24th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $265.00 price target (up from $245.00) on shares of Apple in a report on Wednesday, July 31st. JPMorgan Chase & Co. set a $265.00 price target on Apple and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, UBS Group set a $235.00 price target on Apple and gave the company a “buy” rating in a report on Thursday, September 26th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $221.64.
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.
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