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.
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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