Acropolis Investment Management LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 18,575 shares of the iPhone maker’s stock after acquiring an additional 471 shares during the period. Apple accounts for about 0.8% of Acropolis Investment Management LLC’s portfolio, making the stock its 17th largest position. Acropolis Investment Management LLC’s holdings in Apple were worth $5,444,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in AAPL. Kahn Brothers Group Inc. DE bought a new stake in shares of Apple during the third quarter worth approximately $112,000. Belvedere Advisors LLC bought a new stake in shares of Apple during the second quarter worth approximately $119,000. Fulcrum Equity Management bought a new stake in shares of Apple during the third quarter worth approximately $135,000. Poplar Forest Capital LLC bought a new stake in shares of Apple during the third quarter worth approximately $205,000. Finally, S&T Bank PA bought a new stake in shares of Apple during the second quarter worth approximately $207,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.
A number of research firms recently weighed in on AAPL. Nomura reissued a “hold” rating and set a $225.00 price target on shares of Apple in a research note on Thursday, January 9th. BidaskClub raised shares of Apple from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 27th. Cascend Securities upped their target price on shares of Apple from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC downgraded shares of Apple from a “strong-buy” rating to a “buy” rating and upped their target price for the company from $280.00 to $350.00 in a research note on Monday, January 6th. Finally, Argus reaffirmed a “buy” rating and issued a $350.00 target price (up previously from $300.00) on shares of Apple in a research note on Friday. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Apple has an average rating of “Hold” and an average target price of $272.31.
In other Apple news, SVP Deirdre O’brien sold 12,459 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $234.04, for a total transaction of $2,915,904.36. Following the sale, the senior vice president now directly owns 57,819 shares of the company’s stock, valued at $13,531,958.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 3,932 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $233.26, for a total transaction of $917,178.32. Following the sale, the insider now directly owns 15,464 shares in the company, valued at $3,607,132.64. The disclosure for this sale can be found here. Insiders have sold 53,785 shares of company stock worth $13,472,882 over the last ninety days. Insiders own 0.05% of the company’s stock.
AAPL traded down $0.58 during trading hours on Tuesday, hitting $316.38. 18,088,599 shares of the company’s stock were exchanged, compared to its average volume of 29,012,660. Apple Inc. has a 1-year low of $149.22 and a 1-year high of $312.67. The stock’s 50-day moving average is $282.71 and its two-hundred day moving average is $237.14. The stock has a market cap of $1,360.50 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 2.25 and a beta of 1.25. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01.
Apple (NASDAQ:AAPL) last announced its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The business had revenue of $64.04 billion during the quarter, compared to analysts’ expectations of $62.86 billion. During the same quarter in the prior year, the company posted $2.91 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 13.15 EPS for the current year.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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