Regent Investment Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 61,910 shares of the iPhone maker’s stock after acquiring an additional 1,680 shares during the quarter. Apple comprises about 3.7% of Regent Investment Management LLC’s holdings, making the stock its 2nd largest position. Regent Investment Management LLC’s holdings in Apple were worth $9,766,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Contravisory Investment Management Inc. grew its stake in shares of Apple by 30.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after purchasing an additional 144 shares during the last quarter. CKW Financial Group grew its stake in shares of Apple by 15.0% during the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after purchasing an additional 105 shares during the last quarter. Selective Wealth Management bought a new stake in shares of Apple during the third quarter valued at approximately $194,000. Lawson Kroeker Investment Management Inc. NE bought a new stake in shares of Apple during the third quarter valued at approximately $201,000. Finally, Leith Wheeler Investment Counsel Ltd. bought a new stake in shares of Apple during the third quarter valued at approximately $201,000. 57.39% of the stock is currently owned by institutional investors and hedge funds.
AAPL opened at $205.28 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $1,019.79 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.13 and a beta of 1.14. Apple Inc. has a twelve month low of $142.00 and a twelve month high of $233.47.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.17 by $0.01. The company had revenue of $84.31 billion for the quarter, compared to analyst estimates of $84.07 billion. Apple had a net margin of 22.72% and a return on equity of 50.92%. Research analysts predict that Apple Inc. will post 11.37 earnings per share for the current year.
In other Apple news, Director Arthur D. Levinson sold 1,521 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $167.71, for a total value of $255,086.91. Following the sale, the director now directly owns 1,134,804 shares in the company, valued at $190,317,978.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Luca Maestri sold 51,138 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the completion of the sale, the insider now owns 27,448 shares in the company, valued at $5,396,551.28. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
Several analysts have recently commented on the stock. BidaskClub cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Morgan Stanley set a $220.00 price target on shares of Apple and gave the company a “buy” rating in a research note on Tuesday, March 26th. ValuEngine raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. Goldman Sachs Group reissued a “neutral” rating and set a $182.00 price target on shares of Apple in a research note on Wednesday. Finally, Credit Suisse Group initiated coverage on shares of Apple in a report on Thursday, April 11th. They issued a “neutral” rating and a $209.00 price objective on the stock. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Apple presently has an average rating of “Hold” and an average price target of $204.39.
Apple Company 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.
Further Reading: Understanding Specialty Certificates of Deposit
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