Davis R M Inc. Has $71.78 Million Stake in Apple Inc. (AAPL)

Davis R M Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 465,707 shares of the iPhone maker’s stock after selling 13,820 shares during the period. Apple comprises approximately 3.0% of Davis R M Inc.’s portfolio, making the stock its biggest holding. Davis R M Inc.’s holdings in Apple were worth $71,775,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Berkshire Hathaway Inc. grew its holdings in Apple by 0.6% during the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after purchasing an additional 834,854 shares during the period. Capital Research Global Investors grew its holdings in Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after purchasing an additional 3,845,363 shares during the period. Legal & General Group Plc grew its holdings in Apple by 3.0% during the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after purchasing an additional 771,046 shares during the period. Janus Henderson Group PLC grew its holdings in Apple by 301.3% during the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after purchasing an additional 15,018,790 shares during the period. Finally, Swiss National Bank grew its holdings in Apple by 1.5% during the second quarter. Swiss National Bank now owns 19,169,416 shares of the iPhone maker’s stock valued at $2,760,779,000 after purchasing an additional 275,400 shares during the period. 59.61% of the stock is owned by institutional investors.

Shares of Apple Inc. (NASDAQ:AAPL) opened at $175.00 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $908,730.00, a PE ratio of 19.04, a P/E/G ratio of 1.41 and a beta of 1.23. Apple Inc. has a 12 month low of $116.47 and a 12 month high of $177.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.50 EPS. analysts predict that Apple Inc. will post 11.18 EPS for the current fiscal year.

AAPL has been the topic of several recent research reports. Morgan Stanley restated an “overweight” rating and set a $194.00 target price (up previously from $182.00) on shares of Apple in a research report on Tuesday, September 12th. Royal Bank of Canada restated an “outperform” rating and set a $180.00 target price on shares of Apple in a research report on Monday, September 11th. Barclays set a $146.00 target price on Apple and gave the stock a “neutral” rating in a research report on Wednesday, September 13th. Mizuho set a $160.00 target price on Apple and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Finally, Vetr downgraded Apple from a “buy” rating to a “hold” rating and set a $178.34 price objective on the stock. in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $198.70.

In other Apple news, insider Johny Srouji sold 10,368 shares of Apple stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the sale, the insider now directly owns 81,560 shares of the company’s stock, valued at approximately $14,246,900.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eduardo H. Cue sold 65,361 shares of Apple stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,771 shares of company stock worth $19,381,421. Insiders own 0.08% of the company’s stock.

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Apple Company Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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