Apple Inc. (NASDAQ:AAPL) Holdings Cut by Cornerstone Advisors LLC

Cornerstone Advisors LLC lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 772,600 shares of the iPhone maker's stock after selling 14,800 shares during the quarter. Apple comprises 7.1% of Cornerstone Advisors LLC's investment portfolio, making the stock its biggest position. Cornerstone Advisors LLC's holdings in Apple were worth $180,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bull Oak Capital LLC grew its position 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 acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc grew its holdings 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 valued at $69,000 after purchasing an additional 144 shares during the last quarter. ARK Investment Management LLC bought a new stake in shares of Apple during the 3rd quarter valued at approximately $110,000. Finally, Cordant Inc. lifted its stake in Apple by 34.3% in 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 last quarter. Institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The stock was 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 directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business's 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 transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AAPL shares. Citigroup boosted their target price on shares of Apple to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Barclays lowered their target price on Apple from $184.00 to $183.00 and set an "underweight" rating for the company in a report on Wednesday, January 22nd. TD Cowen reissued a "buy" rating on shares of Apple in a research note on Tuesday. Monness Crespi & Hardt upped their price objective on Apple to $245.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $260.00 target price on shares of Apple in a research report on Tuesday, January 21st. Four equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $238.05.

Apple Stock Down 0.7 %

AAPL stock traded down $1.74 during trading on Thursday, reaching $237.62. 32,786,231 shares of the stock were exchanged, compared to its average volume of 56,478,961. The firm's 50 day moving average is $241.37 and its 200 day moving average is $230.81. The firm has a market cap of $3.57 trillion, a P/E ratio of 39.08, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10.

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

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.