Apple Inc. (NASDAQ:AAPL) Stock Holdings Reduced by Abbrea Capital LLC

Abbrea Capital LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.3% during the second quarter, Holdings Channel.com reports. The firm owned 208,075 shares of the iPhone maker’s stock after selling 18,744 shares during the period. Apple makes up 5.8% of Abbrea Capital LLC’s holdings, making the stock its 2nd biggest holding. Abbrea Capital LLC’s holdings in Apple were worth $43,825,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AAPL. Capital International Investors grew its position in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the last quarter. American Century Companies Inc. increased its position in shares of Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after purchasing an additional 1,065,759 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Apple by 1.7% in the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares in the last quarter. Swedbank AB grew its stake in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after buying an additional 2,359,409 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after buying an additional 2,594,138 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $230.10 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $227.23 and its 200-day simple moving average is $211.59. The company has a market cap of $3.53 trillion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same quarter last year, the firm posted $1.26 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 6.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Bank of America reissued a “buy” rating and set a $256.00 price objective on shares of Apple in a report on Thursday, October 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. Loop Capital increased their price objective on Apple to $300.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Evercore ISI reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.91.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.