Apple Inc. (NASDAQ:AAPL) Holdings Reduced by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,037,915 shares of the iPhone maker's stock after selling 29,821 shares during the quarter. Apple accounts for about 6.0% of King Luther Capital Management Corp's investment portfolio, making the stock its largest position. King Luther Capital Management Corp's holdings in Apple were worth $1,406,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC lifted its position in Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker's stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Apple by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker's stock worth $11,160,183,000 after acquiring an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker's stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker's stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Apple by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 34,486,195 shares of the iPhone maker's stock valued at $8,035,283,000 after purchasing an additional 432,140 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Apple to $275.00 and gave the company a "buy" rating in a research report on Monday, December 9th. The Goldman Sachs Group lowered their price objective on Apple from $286.00 to $280.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. TD Cowen reiterated a "buy" rating on shares of Apple in a report on Tuesday. Barclays lowered their price target on Apple from $184.00 to $183.00 and set an "underweight" rating for the company in a research report on Wednesday, January 22nd. Finally, Sanford C. Bernstein raised their price target on Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and a consensus target price of $238.05.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of the business's stock in a transaction on 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. The trade was a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of AAPL stock traded down $1.74 during trading hours on Thursday, reaching $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 quick ratio of 0.83 and a current ratio of 0.87. The business has a fifty day moving average price of $241.37 and a 200-day moving average price of $230.81. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The firm has a market cap of $3.57 trillion, a PE ratio of 39.08, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

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

About Apple

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.