Cohen & Steers Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 89.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,269 shares of the iPhone maker’s stock after selling 28,233 shares during the period. Cohen & Steers Inc.’s holdings in Apple were worth $960,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. lifted its holdings in Apple by 0.3% in the third quarter. MV Capital Management Inc. now owns 12,671 shares of the iPhone maker’s stock worth $2,838,000 after buying an additional 35 shares during the period. Investment Partners LTD. lifted its holdings in Apple by 0.6% in the fourth quarter. Investment Partners LTD. now owns 5,768 shares of the iPhone maker’s stock worth $1,694,000 after buying an additional 35 shares during the period. Searcy Financial Services Inc. ADV lifted its holdings in Apple by 3.3% in the fourth quarter. Searcy Financial Services Inc. ADV now owns 1,202 shares of the iPhone maker’s stock worth $353,000 after buying an additional 38 shares during the period. SRS Capital Advisors Inc. lifted its holdings in Apple by 0.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 7,053 shares of the iPhone maker’s stock worth $2,071,000 after buying an additional 38 shares during the period. Finally, Concentrum Wealth Management lifted its holdings in Apple by 0.4% in the fourth quarter. Concentrum Wealth Management now owns 10,572 shares of the iPhone maker’s stock worth $3,104,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 60.69% of the company’s stock.
Shares of NASDAQ AAPL opened at $245.52 on Thursday. Apple Inc. has a twelve month low of $170.27 and a twelve month high of $327.85. The firm has a market cap of $1,080.22 billion, a P/E ratio of 19.39, a PEG ratio of 1.80 and a beta of 1.30. The company has a 50 day moving average of $289.96 and a 200 day moving average of $270.14. The company has a quick ratio of 1.56, a current ratio of 1.60 and a debt-to-equity ratio of 1.04.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.45. Apple had a net margin of 21.49% and a return on equity of 60.19%. The company had revenue of $91.80 billion during the quarter, compared to analyst estimates of $88.41 billion. During the same period in the previous year, the business earned $4.18 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 13.05 earnings per share for the current fiscal year.
In other Apple news, Director Arthur D. Levinson sold 1,429 shares of Apple stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $304.11, for a total value of $434,573.19. Following the completion of the sale, the director now owns 1,134,712 shares of the company’s stock, valued at approximately $345,077,266.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.05% of the company’s stock.
AAPL has been the subject of several research analyst reports. Atlantic Securities lowered shares of Apple from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $235.00 to $275.00 in a report on Tuesday, January 14th. DZ Bank reiterated a “buy” rating on shares of Apple in a report on Monday. China Renaissance Securities initiated coverage on shares of Apple in a report on Monday, December 9th. They set a “buy” rating and a $342.00 target price for the company. Tigress Financial reiterated a “buy” rating on shares of Apple in a report on Monday, December 30th. Finally, Cascend Securities reiterated a “buy” rating and set a $350.00 target price (down from $375.00) on shares of Apple in a report on Monday, March 2nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $305.00.
Apple Company Profile
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.
See Also: Return on Equity (ROE)
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.