Polaris Greystone Financial Group LLC Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Polaris Greystone Financial Group LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 10.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 124,269 shares of the iPhone maker’s stock after selling 13,865 shares during the period. Apple accounts for approximately 3.6% of Polaris Greystone Financial Group LLC’s portfolio, making the stock its 5th largest holding. Polaris Greystone Financial Group LLC’s holdings in Apple were worth $45,248,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Advisor Group Holdings Inc. bought a new stake in shares of Apple during the first quarter valued at about $536,884,000. Geode Capital Management LLC increased its position in shares of Apple by 2.7% in 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 purchasing an additional 1,696,496 shares during the last quarter. Norges Bank bought a new position in shares of Apple in the fourth quarter worth approximately $13,759,345,000. Wealth Quarterback LLC bought a new position in shares of Apple in the fourth quarter worth approximately $3,783,310,000. Finally, Wellington Management Group LLP increased its position in shares of Apple by 18.2% in 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 purchasing an additional 4,148,565 shares during the last quarter. Institutional investors and hedge funds own 61.96% of the company’s stock.

AAPL opened at $381.91 on Tuesday. The firm has a market cap of $1,663.00 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 2.83 and a beta of 1.18. The company has a current ratio of 1.50, a quick ratio of 1.46 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 stock has a fifty day moving average price of $347.64 and a 200-day moving average price of $305.92.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.29. Apple had a return on equity of 64.49% and a net margin of 21.35%. The company had revenue of $58.31 billion for the quarter, compared to analyst estimates of $54.64 billion. During the same period in the prior year, the company posted $2.46 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 12.33 EPS for the current year.

Several brokerages have issued reports on AAPL. Oppenheimer reaffirmed a “buy” rating and issued a $320.00 target price on shares of Apple in a research note on Tuesday, June 23rd. Morgan Stanley increased their price objective on Apple from $340.00 to $419.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup increased their price objective on Apple from $310.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Royal Bank of Canada raised Apple to an “outperform” rating and increased their price objective for the company from $345.00 to $390.00 in a research note on Wednesday, June 17th. They noted that the move was a valuation call. Finally, Wedbush increased their price objective on Apple from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Monday. Three 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 assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $331.86.

In related news, SVP Deirdre O’brien sold 9,137 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $285.12, for a total transaction of $2,605,141.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,491 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $305.62, for a total value of $1,372,539.42. Following the transaction, the insider now directly owns 7,370 shares in the company, valued at $2,252,419.40. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.

About Apple

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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