Apple Inc. (NASDAQ:AAPL) Position Reduced by Buckley Wealth Management LLC

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Buckley Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,430 shares of the iPhone maker’s stock after selling 8,044 shares during the period. Apple comprises approximately 8.5% of Buckley Wealth Management LLC’s investment portfolio, making the stock its largest holding. Buckley Wealth Management LLC’s holdings in Apple were worth $17,342,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AAPL. Avondale Wealth Management grew its position in shares of Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after purchasing an additional 64 shares during the period. NuWave Investment Management LLC grew its position in shares of Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 449 shares during the period. Horan Securities Inc. grew its position in shares of Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after purchasing an additional 221 shares during the period. Belvedere Advisors LLC acquired a new stake in shares of Apple in the second quarter valued at about $119,000. Finally, C M Bidwell & Associates Ltd. grew its position in shares of Apple by 339.1% in the second quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock valued at $151,000 after purchasing an additional 590 shares during the period. Institutional investors and hedge funds own 58.63% of the company’s stock.

Shares of AAPL stock opened at $236.21 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. The firm’s 50-day moving average is $216.75 and its two-hundred day moving average is $202.65. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $237.64. The company has a market capitalization of $1,067.48 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.97 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. Apple had a net margin of 21.50% and a return on equity of 52.13%. The company had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. During the same period in the previous year, the firm earned $2.34 earnings per share. Apple’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 11.68 EPS for the current year.

In other Apple news, CFO Luca Maestri sold 61,659 shares of Apple stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $228.38, for a total transaction of $14,081,682.42. Following the transaction, the chief financial officer now directly owns 85,507 shares of the company’s stock, valued at $19,528,088.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the transaction, the director now directly owns 1,150,783 shares in the company, valued at $232,101,423.27. The disclosure for this sale can be found here. Insiders have sold 433,749 shares of company stock worth $91,773,322 over the last ninety days. 0.05% of the stock is owned by insiders.

Several analysts have recently issued reports on the stock. BidaskClub upgraded shares of Apple from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 27th. DZ Bank reiterated a “neutral” rating on shares of Apple in a research report on Wednesday, September 11th. Cascend Securities lifted their target price on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Deutsche Bank set a $210.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Tuesday, September 24th. Finally, ValuEngine downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $223.22.

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.

See Also: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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