Taylor Cottrill Erickson & Associates Inc. cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,896 shares of the iPhone maker’s stock after selling 2,467 shares during the period. Apple comprises about 2.8% of Taylor Cottrill Erickson & Associates Inc.’s investment portfolio, making the stock its 4th largest position. Taylor Cottrill Erickson & Associates Inc.’s holdings in Apple were worth $15,239,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kahn Brothers Group Inc. DE bought a new stake in shares of Apple during the third quarter worth $112,000. Belvedere Advisors LLC bought a new stake in shares of Apple during the second quarter worth $119,000. Fulcrum Equity Management bought a new stake in shares of Apple during the third quarter worth $135,000. Poplar Forest Capital LLC bought a new stake in shares of Apple during the third quarter worth $205,000. Finally, S&T Bank PA bought a new stake in shares of Apple during the second quarter worth $207,000. Institutional investors and hedge funds own 59.94% of the company’s stock.
Several analysts have recently commented on AAPL shares. Morgan Stanley increased their target price on Apple from $289.00 to $296.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. DZ Bank cut Apple to a “hold” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. set a $296.00 price target on Apple and gave the company a “buy” rating in a research note on Monday, January 6th. Cascend Securities upped their price target on Apple from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC lowered Apple from a “strong-buy” rating to a “buy” rating and upped their price target for the company from $280.00 to $350.00 in a research note on Monday, January 6th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $272.31.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.19. The company had revenue of $64.04 billion during the quarter, compared to the consensus estimate of $62.86 billion. Apple had a return on equity of 53.82% and a net margin of 21.24%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.91 earnings per share. Sell-side analysts predict that Apple Inc. will post 13.15 earnings per share for the current year.
In related news, Director Arthur D. Levinson sold 37,394 shares of Apple stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the completion of the sale, the director now directly owns 1,170,677 shares of the company’s stock, valued at approximately $301,788,823.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 12,459 shares of Apple stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $234.04, for a total value of $2,915,904.36. Following the sale, the senior vice president now directly owns 57,819 shares of the company’s stock, valued at $13,531,958.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,785 shares of company stock valued at $13,472,882. Corporate insiders own 0.05% of the company’s stock.
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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