ELM Advisors LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,518 shares of the iPhone maker’s stock after selling 83 shares during the period. Apple makes up about 1.6% of ELM Advisors LLC’s portfolio, making the stock its 15th largest position. ELM Advisors LLC’s holdings in Apple were worth $1,975,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently bought and sold shares of AAPL. Morgan Stanley grew its holdings in Apple by 9.7% in the third quarter. Morgan Stanley now owns 39,188,032 shares of the iPhone maker’s stock worth $8,846,307,000 after purchasing an additional 3,452,792 shares during the period. Janus Henderson Group PLC grew its holdings in Apple by 18.8% in the third quarter. Janus Henderson Group PLC now owns 20,833,222 shares of the iPhone maker’s stock worth $4,703,027,000 after purchasing an additional 3,293,674 shares during the period. Royal London Asset Management Ltd. acquired a new stake in Apple in the second quarter worth $385,873,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Apple by 6.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock valued at $3,148,443,000 after buying an additional 1,030,981 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of Apple by 88.4% in the third quarter. Federated Investors Inc. PA now owns 1,192,947 shares of the iPhone maker’s stock valued at $269,295,000 after buying an additional 559,737 shares in the last quarter. Institutional investors and hedge funds own 56.28% of the company’s stock.
In related news, Director Arthur D. Levinson sold 1,521 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $167.71, for a total transaction of $255,086.91. Following the transaction, the director now directly owns 1,134,804 shares of the company’s stock, valued at $190,317,978.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is owned by company insiders.
AAPL opened at $191.05 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.25 and a current ratio of 1.30. Apple Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $233.47. The stock has a market cap of $958.89 billion, a P/E ratio of 16.04, a PEG ratio of 2.00 and a beta of 1.13.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.17 by $0.01. Apple had a net margin of 22.72% and a return on equity of 50.92%. The company had revenue of $84.31 billion for the quarter, compared to analyst estimates of $84.07 billion. Equities research analysts predict that Apple Inc. will post 11.38 EPS for the current fiscal year.
A number of research analysts have weighed in on AAPL shares. UBS Group raised their price objective on shares of Apple from $180.00 to $185.00 in a research note on Wednesday, January 30th. Loop Capital dropped their price objective on shares of Apple to $225.00 and set a “buy” rating on the stock in a research note on Monday, November 26th. JPMorgan Chase & Co. set a $266.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Friday, November 30th. Canaccord Genuity dropped their price objective on shares of Apple from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, November 29th. Finally, Citigroup dropped their price objective on shares of Apple from $240.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, December 10th. One investment analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $196.09.
COPYRIGHT VIOLATION NOTICE: “ELM Advisors LLC Trims Holdings in Apple Inc. (AAPL)” was first published by Highlight Press and is owned by of Highlight Press. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://highlightpress.com/2019/03/24/elm-advisors-llc-trims-holdings-in-apple-inc-aapl.html.
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.
Read More: Inflation
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.