Portfolio Design Labs LLC Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Portfolio Design Labs LLC lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,538 shares of the iPhone maker's stock after selling 6,069 shares during the period. Apple accounts for 5.2% of Portfolio Design Labs LLC's portfolio, making the stock its 2nd largest holding. Portfolio Design Labs LLC's holdings in Apple were worth $18,532,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Bull Oak Capital LLC lifted its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after buying an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the second quarter valued at about $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock worth $69,000 after purchasing an additional 144 shares during the last quarter. ARK Investment Management LLC acquired a new position in shares of Apple during the third quarter worth approximately $110,000. Finally, Cordant Inc. grew its stake in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock worth $158,000 after acquiring an additional 173 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Trading Down 0.7 %

Shares of Apple stock traded down $1.74 on Thursday, hitting $237.62. 32,786,231 shares of the company's stock traded hands, compared to its average volume of 56,478,961. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. 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 stock has a market capitalization 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. The firm's 50-day moving average price is $241.37 and its two-hundred day moving average price is $230.81.

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

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AAPL shares. Wedbush reiterated an "outperform" rating and set a $325.00 target price on shares of Apple in a research note on Thursday, January 23rd. StockNews.com lowered shares of Apple from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. Oppenheimer cut Apple from an "outperform" rating to a "market perform" rating in a report on Wednesday. Loop Capital downgraded Apple from a "buy" rating to a "hold" rating and set a $230.00 price objective for the company. in a research report on Tuesday, January 21st. Finally, Monness Crespi & Hardt boosted their price objective on Apple to $245.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. 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 assigned a strong buy rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price 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.