Lee Danner & Bass Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,884 shares of the iPhone maker’s stock after selling 364 shares during the period. Apple comprises approximately 2.5% of Lee Danner & Bass Inc.’s portfolio, making the stock its 7th largest position. Lee Danner & Bass Inc.’s holdings in Apple were worth $22,792,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in shares of Apple by 301.3% in 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 buying an additional 15,018,790 shares during the last quarter. Harbour Capital Advisors LLC raised its holdings in shares of Apple by 14,030.2% in the second quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after buying an additional 4,483,360 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Apple by 15.0% in 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 buying an additional 3,845,363 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Apple by 200.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,765,574 shares of the iPhone maker’s stock worth $686,338,000 after purchasing an additional 3,178,809 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Apple by 25.3% during the second quarter. Principal Financial Group Inc. now owns 10,582,632 shares of the iPhone maker’s stock worth $1,524,110,000 after purchasing an additional 2,138,928 shares in the last quarter. 60.19% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on AAPL. Nomura set a $175.00 price target on shares of Apple and gave the stock a “neutral” rating in a report on Tuesday, December 19th. Instinet cut shares of Apple from a “buy” rating to a “neutral” rating and set a $175.00 price target for the company. in a report on Tuesday, December 19th. Maxim Group increased their price target on shares of Apple from $193.00 to $204.00 and gave the stock a “buy” rating in a report on Friday. Loop Capital reissued a “buy” rating and set a $200.00 price target on shares of Apple in a report on Friday, December 22nd. Finally, UBS Group set a $190.00 price target on shares of Apple and gave the stock a “buy” rating in a report on Monday, November 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $198.94.
In related news, insider Eduardo H. Cue sold 65,361 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total transaction of $11,215,947.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $169.69, for a total transaction of $2,654,121.29. Following the sale, the insider now directly owns 17,341 shares of the company’s stock, valued at $2,942,594.29. The disclosure for this sale can be found here. In the last three months, insiders sold 128,412 shares of company stock worth $22,115,155. Insiders own 0.06% of the company’s stock.
Apple Inc. (AAPL) opened at $177.09 on Tuesday. Apple Inc. has a one year low of $118.22 and a one year high of $177.36. 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 company has a market cap of $900,866.69, a price-to-earnings ratio of 19.25, a PEG ratio of 1.45 and a beta of 1.21.
Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. During the same quarter last year, the firm posted $1.50 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. sell-side analysts forecast that Apple Inc. will post 11.18 earnings per share for the current year.
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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.
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