Apple Inc. stock (NASDAQ:AAPL) sold by Strategic Financial Services Inc.


Strategic Financial Services Inc. reduced its stake in Apple Inc. (NASDAQ: AAPL – Get Rating) by 0.2% in Q1, reports HoldingsChannel.com. The fund held 88,363 shares of the iPhone maker after selling 165 shares during the quarter. Apple represents about 1.2% of Strategic Financial Services Inc’s investment portfolio, making the stock its 12th largest holding. Strategic Financial Services Inc’s holdings in Apple were worth $15,429,000 at the end of the most recent reporting period.

A number of other large investors also changed their holdings in AAPL. Joseph Group Capital Management bought a new position in Apple in the fourth quarter for a value of approximately $1,631,000. Cardinal Capital Management Inc. increased its holdings of Apple stock by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker worth $39,000 after buying 221 more shares in the last quarter. Shore Point Advisors LLC acquired a new stake in Apple stock in Q4 valued at around $41,000. St. James Investment Advisors LLC acquired a new stake in Apple in the fourth quarter worth approximately $57,000. Finally, Econ Financial Services Corp acquired a new stake in shares of Apple in the fourth quarter valued at around $58,000. Hedge funds and other institutional investors hold 57.98% of the company’s shares.

A Wall Street analyst gives his opinion

A number of brokerages have recently commented on AAPL. StockNews.com began covering Apple shares in a report on Thursday, March 31. They issued a “holding” rating on the stock. Deutsche Bank Aktiengesellschaft cut its price target on Apple from $200.00 to $175.00 in a Tuesday, June 14 research report. Loop Capital lowered its target price on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a Wednesday, May 25 report. Evercore ISI cut its price target on Apple from $210.00 to $180.00 and set an “outperform” rating for the company in a Tuesday, June 28 report. Finally, Rosenblatt Securities lowered its price target on Apple shares from $184.00 to $168.00 and set a “neutral” rating on the stock in a Monday, May 2 research report. Two equity research analysts gave the stock a sell rating, nine issued a hold rating, twenty-four gave the stock a buy rating and one gave the stock a strong buy rating. . According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.64.

Apple price performance

NASDAQ:AAPL shares opened at $156.79 on Thursday. The company has a market capitalization of $2.54 trillion, a P/E ratio of 25.45, a P/E/G ratio of 1.98 and a beta of 1.19. The company has a fifty-day simple moving average of $143.41 and a 200-day simple moving average of $157.62. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt ratio of 1.53.

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly results on Thursday, April 28. The iPhone maker reported EPS of $1.52 for the quarter, beating the consensus estimate of $1.43 by $0.09. The company posted revenue of $97.28 billion in the quarter, compared to $93.99 billion expected by analysts. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company’s revenue increased 8.6% year over year. In the same quarter of the previous year, the company achieved EPS of $1.40. Equity research analysts expect Apple Inc. to post EPS of 6.09 for the current year.

Apple announced that its board of directors on Thursday (April 28th) approved a stock repurchase program that allows the company to repurchase $90.00 billion in stock. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believe its stock is undervalued.

Insider buying and selling

In other Apple news, SVP Katherine L. Adams sold 25,000 shares in a trade that took place on Wednesday, May 4. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares of the company, valued at $73,151,454.48. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Company insiders own 0.06% of the company’s shares.

Apple Company Profile

(Get a rating)

Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. It also sells various related services. Additionally, the company offers iPhone, a range of smartphones; Mac, a line of personal computers; iPad, a range of versatile tablets; AirPods Max, an over-ear wireless headset; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.

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Want to see which other hedge funds hold AAPLs? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Apple Inc. (NASDAQ:AAPL – Get Rating).

Institutional ownership by quarter for Apple (NASDAQ:AAPL)



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