Apple Inc. (AAPL) Holdings Trimmed by Summit X LLC

Summit X LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 76.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,017 shares of the iPhone maker’s stock after selling 102,616 shares during the period. Apple accounts for approximately 3.2% of Summit X LLC’s investment portfolio, making the stock its 3rd biggest holding. Summit X LLC’s holdings in Apple were worth $5,371,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AAPL. Gilbert & Cook Inc. grew its holdings in shares of Apple by 5.3% during the fourth quarter. Gilbert & Cook Inc. now owns 6,477 shares of the iPhone maker’s stock worth $1,096,000 after buying an additional 326 shares in the last quarter. Highstreet Asset Management Inc. grew its holdings in shares of Apple by 18.1% during the fourth quarter. Highstreet Asset Management Inc. now owns 46,263 shares of the iPhone maker’s stock worth $7,829,000 after buying an additional 7,078 shares in the last quarter. State Treasurer State of Michigan grew its holdings in shares of Apple by 0.6% during the fourth quarter. State Treasurer State of Michigan now owns 2,579,391 shares of the iPhone maker’s stock worth $436,510,000 after buying an additional 15,700 shares in the last quarter. Rosenblum Silverman Sutton S F Inc. CA grew its holdings in shares of Apple by 33.7% during the fourth quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 3,666 shares of the iPhone maker’s stock worth $620,000 after buying an additional 925 shares in the last quarter. Finally, Harrington Investments INC grew its holdings in shares of Apple by 6.3% during the fourth quarter. Harrington Investments INC now owns 46,584 shares of the iPhone maker’s stock worth $7,883,000 after buying an additional 2,753 shares in the last quarter. Hedge funds and other institutional investors own 58.62% of the company’s stock.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Johny Srouji sold 14,140 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $214.98, for a total transaction of $3,039,817.20. Following the completion of the transaction, the insider now directly owns 68,302 shares in the company, valued at approximately $14,683,563.96. The disclosure for this sale can be found here. Insiders sold 378,400 shares of company stock worth $81,052,754 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Shares of AAPL opened at $223.84 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. Apple Inc. has a 12-month low of $149.16 and a 12-month high of $229.67. The stock has a market capitalization of $1,086.59 billion, a P/E ratio of 20.04, a PEG ratio of 1.95 and a beta of 1.33.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The company had revenue of $53.27 billion for the quarter, compared to analysts’ expectations of $52.43 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. Apple’s revenue for the quarter was up 17.3% compared to the same quarter last year. equities research analysts anticipate that Apple Inc. will post 11.76 EPS for the current year.

A number of equities research analysts have recently issued reports on the stock. BTIG Research raised shares of Apple to a “buy” rating and upped their target price for the stock from $207.00 to $235.00 in a report on Wednesday, August 1st. Macquarie set a $214.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, August 15th. Morgan Stanley reaffirmed a “buy” rating and set a $232.00 target price on shares of Apple in a report on Wednesday, August 22nd. S&P Equity Research upped their target price on shares of Apple to $250.00 and gave the stock an “in-line” rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. Finally, UBS Group assumed coverage on shares of Apple in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirty have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $217.53.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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