Abner Herrman & Brock LLC Lowers Position in Apple Inc. (NASDAQ:AAPL)

Abner Herrman & Brock LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 5.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,375 shares of the iPhone maker’s stock after selling 920 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Apple were worth $3,668,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Apple by 2.6% in the second quarter. Invesco Ltd. now owns 46,879,136 shares of the iPhone maker’s stock valued at $9,278,319,000 after acquiring an additional 1,203,705 shares in the last quarter. Morgan Stanley grew its holdings in shares of Apple by 5.8% in the second quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock valued at $7,176,836,000 after acquiring an additional 1,996,126 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Apple by 2,874.9% in the second quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock valued at $7,108,275,000 after acquiring an additional 34,707,634 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Apple by 0.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 20,240,790 shares of the iPhone maker’s stock valued at $4,006,058,000 after acquiring an additional 161,912 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Apple by 1.6% in the second quarter. Parametric Portfolio Associates LLC now owns 13,752,244 shares of the iPhone maker’s stock valued at $2,721,844,000 after acquiring an additional 214,362 shares in the last quarter. 58.63% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:AAPL opened at $236.21 on Friday. The company has a market cap of $1,067.48 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.97 and a beta of 1.24. The stock’s fifty day moving average price is $216.75 and its two-hundred day moving average price is $202.65. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $237.64. 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 posted its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.08. The firm had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 earnings per share. On average, analysts expect that Apple Inc. will post 11.68 earnings per share for the current fiscal year.

In related news, Director Arthur D. Levinson sold 17,500 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $214.02, for a total value of $3,745,350.00. Following the sale, the director now owns 1,150,783 shares in the company, valued at $246,290,577.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 61,659 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $228.38, for a total value of $14,081,682.42. Following the completion of the sale, the chief financial officer now owns 85,507 shares in the company, valued at approximately $19,528,088.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 433,749 shares of company stock worth $91,773,322. Company insiders own 0.05% of the company’s stock.

Several research firms have recently issued reports on AAPL. Maxim Group reduced their target price on Apple from $211.00 to $204.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. Macquarie set a $210.00 target price on Apple and gave the company a “hold” rating in a report on Tuesday, September 10th. ValuEngine lowered Apple from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Citigroup increased their price objective on Apple from $205.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Cascend Securities increased their price objective on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Apple presently has an average rating of “Buy” and an average price target of $223.22.

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.

Further Reading: What is systematic risk?

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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