Apple Inc. (NASDAQ:AAPL) is Advisors Asset Management Inc.'s 2nd Largest Position

Advisors Asset Management Inc. reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523,193 shares of the iPhone maker's stock after selling 2,586 shares during the quarter. Apple accounts for approximately 2.2% of Advisors Asset Management Inc.'s investment portfolio, making the stock its 2nd largest holding. Advisors Asset Management Inc.'s holdings in Apple were worth $121,904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bull Oak Capital LLC grew its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new position in shares of Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock valued at $69,000 after acquiring an additional 144 shares during the last quarter. ARK Investment Management LLC purchased a new position in Apple in the third quarter worth $110,000. Finally, Cordant Inc. increased its position in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock worth $158,000 after purchasing an additional 173 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

NASDAQ AAPL traded down $1.74 on Thursday, hitting $237.62. The company had a trading volume of 32,786,231 shares, compared to its average volume of 56,478,961. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company's fifty day moving average price is $241.37 and its 200-day moving average price is $230.81. The company has a market capitalization of $3.57 trillion, a PE ratio of 39.08, a PEG ratio of 2.19 and a beta of 1.20. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analysts' expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 earnings per share. As a group, analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company's stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company's stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AAPL shares. TD Cowen reissued a "buy" rating on shares of Apple in a research report on Tuesday. Bank of America restated a "buy" rating and set a $253.00 price target (down previously from $256.00) on shares of Apple in a research note on Friday, January 24th. StockNews.com lowered shares of Apple from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. Maxim Group boosted their target price on shares of Apple from $203.00 to $215.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group decreased their price target on shares of Apple from $286.00 to $280.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $238.05.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.