ELM Advisors LLC Trims Holdings in Apple Inc. (AAPL)

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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.

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Apple Profile

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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