Bank Pictet & Cie Europe AG Has $66.12 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Bank Pictet & Cie Europe AG decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,781 shares of the iPhone maker's stock after selling 2,211 shares during the period. Apple comprises about 1.6% of Bank Pictet & Cie Europe AG's investment portfolio, making the stock its 19th biggest holding. Bank Pictet & Cie Europe AG's holdings in Apple were worth $66,121,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Hershey Financial Advisers LLC purchased a new stake in Apple in the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc increased its stake in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock worth $69,000 after purchasing an additional 144 shares in the last quarter. Cordant Inc. raised its position in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock valued at $158,000 after purchasing an additional 173 shares during the period. Hoese & Co LLP lifted its stake in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker's stock valued at $175,000 after buying an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter worth $206,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of NASDAQ:AAPL traded up $4.70 on Friday, reaching $254.49. 145,580,875 shares of the company traded hands, compared to its average volume of 57,671,145. 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 $3.85 trillion, a PE ratio of 41.86, a P/E/G ratio of 2.41 and a beta of 1.23. The company's 50 day moving average is $234.97 and its 200-day moving average is $225.48. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $255.00.

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

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple's dividend payout ratio is 16.45%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AAPL shares. Maxim Group upped their price target on Apple from $203.00 to $215.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Tigress Financial upped their target price on shares of Apple from $245.00 to $295.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, August 28th. Wells Fargo & Company boosted their price target on shares of Apple to $275.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Melius Research reissued a "buy" rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Finally, Monness Crespi & Hardt reaffirmed a "buy" rating and issued a $245.00 target price on shares of Apple in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $236.78.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were 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 owns 389,944 shares of the company's stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock worth $117,004,745 over the last ninety days. Company insiders own 0.06% of the company's stock.

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.