Camden National Bank Raises Stock Holdings in Apple Inc. (NASDAQ:AAPL)

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Camden National Bank lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 15.2% in the 3rd quarter, Holdings Channel reports. The firm owned 5,100 shares of the iPhone maker’s stock after acquiring an additional 673 shares during the period. Camden National Bank’s holdings in Apple were worth $1,143,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. lifted its position in Apple by 2.6% in the 2nd quarter. Invesco Ltd. now owns 46,879,136 shares of the iPhone maker’s stock worth $9,278,319,000 after buying an additional 1,203,705 shares during the last quarter. Morgan Stanley lifted its position in Apple by 5.8% in the 2nd quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock worth $7,176,836,000 after buying an additional 1,996,126 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Apple by 2,874.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock worth $7,108,275,000 after buying an additional 34,707,634 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Apple by 0.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 20,240,790 shares of the iPhone maker’s stock worth $4,006,058,000 after buying an additional 161,912 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in Apple by 1.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,752,244 shares of the iPhone maker’s stock worth $2,721,844,000 after buying an additional 214,362 shares during the last quarter. 58.63% of the stock is owned by institutional investors.

Shares of Apple stock opened at $236.21 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. The company has a market cap of $1,067.48 billion, a PE ratio of 19.83, a P/E/G ratio of 1.97 and a beta of 1.24. The business has a 50 day moving average of $216.75 and a 200 day moving average of $202.65. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $237.64.

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

A number of analysts recently weighed in on the company. Needham & Company LLC boosted their target price on Apple from $225.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 11th. BidaskClub upgraded Apple from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 27th. Raymond James upgraded Apple from a “market perform” rating to an “outperform” rating and set a $250.00 target price for the company in a research report on Thursday, July 18th. Credit Suisse Group set a $209.00 target price on Apple and gave the stock a “neutral” rating in a research report on Friday, October 4th. Finally, Bank of America restated a “buy” rating and issued a $250.00 target price (up previously from $240.00) on shares of Apple in a research report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $223.22.

In related news, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 1,150,783 shares in the company, valued at $232,101,423.27. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 61,659 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $228.38, for a total value of $14,081,682.42. Following the transaction, the chief financial officer now owns 85,507 shares of the company’s stock, valued at approximately $19,528,088.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 433,749 shares of company stock valued at $91,773,322. 0.05% of the stock is owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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