Northwest Wealth Management LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 42.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,725 shares of the iPhone maker’s stock after selling 3,516 shares during the quarter. Apple makes up 1.0% of Northwest Wealth Management LLC’s portfolio, making the stock its 25th biggest holding. Northwest Wealth Management LLC’s holdings in Apple were worth $728,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC lifted its position in Apple by 301.3% during 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 period. Harbour Capital Advisors LLC lifted its position in Apple by 14,030.2% during 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 period. Capital Research Global Investors lifted its position in Apple by 15.0% during 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 period. Arrowstreet Capital Limited Partnership lifted its position 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 valued at $686,338,000 after buying an additional 3,178,809 shares during the period. Finally, Principal Financial Group Inc. lifted its position 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 valued at $1,524,110,000 after buying an additional 2,138,928 shares during the period. 60.20% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on the company. Zacks Investment Research lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday. Rosenblatt Securities reaffirmed a “buy” rating on shares of Apple in a research report on Friday. Mizuho reaffirmed a “neutral” rating and issued a $175.00 price target (up previously from $160.00) on shares of Apple in a research report on Friday. Barclays set a $174.00 price target on Apple and gave the stock a “neutral” rating in a research report on Thursday. Finally, Bank of America lowered Apple from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $180.00 to $220.00 in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $200.59.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. equities research analysts anticipate that Apple Inc. will post 11.15 earnings per share for the current year.
In related news, insider Johny Srouji sold 10,368 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the transaction, the insider now directly owns 81,560 shares in the company, valued at approximately $14,246,900.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eduardo H. Cue sold 65,361 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,412 shares of company stock valued at $22,115,155. Corporate insiders own 0.06% of the company’s stock.
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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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