Gateway Investment Advisers LLC Reduces Position in Apple Inc. (AAPL)

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Gateway Investment Advisers LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,349,709 shares of the iPhone maker’s stock after selling 149,649 shares during the quarter. Apple accounts for 4.4% of Gateway Investment Advisers LLC’s portfolio, making the stock its biggest holding. Gateway Investment Advisers LLC’s holdings in Apple were worth $530,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gibraltar Capital Management Inc. raised its position in Apple by 0.4% during the 3rd quarter. Gibraltar Capital Management Inc. now owns 59,517 shares of the iPhone maker’s stock valued at $13,435,000 after purchasing an additional 235 shares in the last quarter. Capital Investment Services of America Inc. raised its position in Apple by 10.0% during the 3rd quarter. Capital Investment Services of America Inc. now owns 2,703 shares of the iPhone maker’s stock valued at $610,000 after purchasing an additional 245 shares in the last quarter. Investment Partners LTD. raised its position in Apple by 4.9% during the 2nd quarter. Investment Partners LTD. now owns 5,594 shares of the iPhone maker’s stock valued at $1,036,000 after purchasing an additional 263 shares in the last quarter. Townsend & Associates Inc raised its position in Apple by 6.8% during the 2nd quarter. Townsend & Associates Inc now owns 4,204 shares of the iPhone maker’s stock valued at $778,000 after purchasing an additional 268 shares in the last quarter. Finally, Dorsey Wright & Associates raised its position in shares of Apple by 9.2% in the 2nd quarter. Dorsey Wright & Associates now owns 3,205 shares of the iPhone maker’s stock worth $593,000 after acquiring an additional 270 shares in the last quarter. Institutional investors own 57.06% of the company’s stock.

Shares of NASDAQ:AAPL opened at $152.29 on Monday. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $233.47. The stock has a market cap of $753.54 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.45 and a beta of 1.23. The company has a current ratio of 1.12, a quick ratio of 1.09 and a debt-to-equity ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.13. Apple had a return on equity of 48.68% and a net margin of 22.41%. The company had revenue of $62.90 billion for the quarter, compared to analyst estimates of $61.55 billion. During the same period in the prior year, the company posted $2.07 EPS. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. Research analysts expect that Apple Inc. will post 12.1 EPS for the current fiscal year.

Several research analysts have recently commented on AAPL shares. JPMorgan Chase & Co. reissued a “buy” rating and issued a $228.00 price target on shares of Apple in a research report on Friday. Citigroup reduced their price target on Apple from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Rosenblatt Securities set a $165.00 price target on Apple and gave the stock a “neutral” rating in a research report on Thursday, December 6th. Morgan Stanley boosted their price target on Apple from $226.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, November 8th. Finally, Royal Bank of Canada set a $240.00 price target on Apple and gave the stock a “buy” rating in a research report on Monday, September 24th. Three analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Apple presently has an average rating of “Hold” and a consensus target price of $195.19.

In related news, insider Chris Kondo sold 3,408 shares of the company’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $190.00, for a total transaction of $647,520.00. Following the transaction, the insider now directly owns 8,940 shares of the company’s stock, valued at approximately $1,698,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

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About Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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