Tealwood Asset Management Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,299 shares of the iPhone maker’s stock after selling 919 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Apple were worth $2,551,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Delphi Private Advisors LLC purchased a new position in Apple in the second quarter valued at approximately $120,000. CX Institutional purchased a new position in Apple in the second quarter valued at approximately $135,000. Selective Wealth Management purchased a new position in Apple in the third quarter valued at approximately $194,000. Lawson Kroeker Investment Management Inc. NE purchased a new position in Apple in the third quarter valued at approximately $201,000. Finally, Boston Standard Wealth Management LLC purchased a new position in Apple in the third quarter valued at approximately $204,000. 57.06% of the stock is currently owned by institutional investors.
AAPL has been the topic of several recent research reports. DA Davidson dropped their target price on Apple to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 3rd. New Street Research restated a “sell” rating on shares of Apple in a research report on Tuesday, September 18th. Robert W. Baird dropped their target price on Apple from $230.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, January 3rd. Citigroup dropped their target price on Apple from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Finally, ValuEngine downgraded Apple from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. Three research 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $195.19.
Apple stock opened at $152.29 on Monday. The firm has a market capitalization of $753.54 billion, a PE ratio of 12.79, a PEG ratio of 1.45 and a beta of 1.23. Apple Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $233.47. 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 released its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.13. The firm had revenue of $62.90 billion for the quarter, compared to analysts’ expectations of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 12.1 earnings per share for the current year.
In other news, insider Chris Kondo sold 3,408 shares of the company’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $190.00, for a total value of $647,520.00. Following the transaction, the insider now owns 8,940 shares of the company’s stock, valued at $1,698,600. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.
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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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