Virginia National Bank Reduces Stake in Apple Inc. (NASDAQ:AAPL)

Virginia National Bank cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 10.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,861 shares of the iPhone maker’s stock after selling 2,309 shares during the period. Apple accounts for 3.4% of Virginia National Bank’s holdings, making the stock its 10th biggest holding. Virginia National Bank’s holdings in Apple were worth $4,225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Avondale Wealth Management raised its holdings in shares of Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after buying an additional 64 shares during the last quarter. NuWave Investment Management LLC raised its holdings in shares of Apple by 2,245.0% during the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after purchasing an additional 449 shares during the last quarter. Horan Securities Inc. raised its holdings in shares of Apple by 64.2% during the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after purchasing an additional 221 shares during the last quarter. Belvedere Advisors LLC purchased a new position in shares of Apple during the second quarter worth $119,000. Finally, C M Bidwell & Associates Ltd. raised its holdings in shares of Apple by 339.1% during the second quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 58.65% of the company’s stock.

Several research analysts recently issued reports on AAPL shares. Macquarie set a $210.00 target price on shares of Apple and gave the stock a “hold” rating in a report on Tuesday, September 10th. Credit Suisse Group set a $209.00 target price on shares of Apple and gave the stock a “neutral” rating in a report on Friday, October 4th. ValuEngine cut shares of Apple from a “buy” rating to a “hold” rating in a report on Monday, October 7th. JPMorgan Chase & Co. set a $265.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Monday. Finally, Goldman Sachs Group set a $165.00 price target on shares of Apple and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $223.65.

In related news, insider Chris Kondo sold 4,376 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 12,459 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $234.04, for a total transaction of $2,915,904.36. Following the transaction, the senior vice president now owns 57,819 shares in the company, valued at $13,531,958.76. The disclosure for this sale can be found here. Insiders have sold 450,140 shares of company stock worth $95,606,404 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

Shares of NASDAQ AAPL traded up $0.33 during trading on Friday, hitting $234.66. The company had a trading volume of 11,533,295 shares, compared to its average volume of 29,228,544. The stock has a fifty day simple moving average of $220.36 and a two-hundred day simple moving average of $204.04. Apple Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $238.13. The firm has a market capitalization of $1,064.15 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.07 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. The firm had revenue of $53.81 billion for the quarter, compared to analyst estimates of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. Apple’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.34 earnings per share. On average, analysts anticipate that Apple Inc. will post 11.68 earnings per share for the current year.

Apple 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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