Apple Inc. (NASDAQ:AAPL) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,200 shares of the iPhone maker’s stock after selling 2,500 shares during the period. Apple accounts for about 3.8% of Louisiana State Employees Retirement System’s investment portfolio, making the stock its 2nd biggest holding. Louisiana State Employees Retirement System’s holdings in Apple were worth $63,913,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Advisor Group Holdings Inc. acquired a new position in shares of Apple during the first quarter worth approximately $536,884,000. Geode Capital Management LLC boosted its position in shares of Apple by 2.7% during the first quarter. Geode Capital Management LLC now owns 64,178,586 shares of the iPhone maker’s stock worth $16,290,282,000 after buying an additional 1,696,496 shares during the period. Norges Bank acquired a new position in shares of Apple during the fourth quarter worth approximately $13,759,345,000. Wealth Quarterback LLC acquired a new position in shares of Apple during the fourth quarter worth approximately $3,783,310,000. Finally, Wellington Management Group LLP boosted its position in shares of Apple by 18.2% during the first quarter. Wellington Management Group LLP now owns 26,941,525 shares of the iPhone maker’s stock worth $6,850,960,000 after buying an additional 4,148,565 shares during the period. Institutional investors own 61.96% of the company’s stock.

Shares of NASDAQ:AAPL opened at $381.91 on Tuesday. The company’s fifty day moving average is $347.64 and its two-hundred day moving average is $305.92. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.14. Apple Inc. has a 12-month low of $192.58 and a 12-month high of $399.82. The company has a market cap of $1,663.00 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 2.83 and a beta of 1.18.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 EPS for the quarter, beating the consensus estimate of $2.26 by $0.29. Apple had a net margin of 21.35% and a return on equity of 64.49%. The business had revenue of $58.31 billion for the quarter, compared to analysts’ expectations of $54.64 billion. During the same period in the previous year, the company posted $2.46 EPS. Apple’s revenue was up .5% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 12.33 earnings per share for the current year.

In other news, insider Chris Kondo sold 4,491 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the transaction, the insider now directly owns 7,370 shares in the company, valued at approximately $2,252,419.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 9,137 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $285.12, for a total transaction of $2,605,141.44. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

Several equities analysts have recently issued reports on the company. Monness Crespi & Hardt assumed coverage on Apple in a research report on Tuesday, June 23rd. They set a “buy” rating and a $370.00 price objective for the company. Royal Bank of Canada upgraded Apple to an “outperform” rating and upped their target price for the stock from $345.00 to $390.00 in a research report on Wednesday, June 17th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $365.00 target price on Apple and gave the stock a “buy” rating in a research report on Friday. Nomura upped their target price on Apple from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $350.00 target price on shares of Apple in a research report on Friday, May 1st. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $331.86.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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