Apple Inc. (NASDAQ:AAPL) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 16.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,336,542 shares of the iPhone maker's stock after selling 447,141 shares during the period. Apple makes up approximately 6.1% of Intech Investment Management LLC's holdings, making the stock its largest holding. Intech Investment Management LLC's holdings in Apple were worth $544,414,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AAPL. Bull Oak Capital LLC lifted its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after buying an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc lifted 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 acquiring an additional 144 shares in the last quarter. ARK Investment Management LLC purchased a new position in Apple in the third quarter valued at about $110,000. Finally, Cordant Inc. grew its stake in 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 in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief operating officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 0.7 %

NASDAQ AAPL traded down $1.74 during trading on Thursday, hitting $237.62. 32,786,231 shares of the company traded hands, compared to its average volume of 56,478,961. The company has a market capitalization of $3.57 trillion, a P/E ratio of 39.08, a PEG ratio of 2.19 and a beta of 1.20. The business has a fifty day simple moving average of $241.37 and a 200 day simple moving average of $230.81. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. 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 (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the company earned $1.46 EPS. The company's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AAPL. Needham & Company LLC reiterated a "buy" rating and set a $260.00 target price on shares of Apple in a research note on Tuesday, January 21st. StockNews.com downgraded shares of Apple from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. UBS Group reissued a "neutral" rating and issued a $236.00 target price on shares of Apple in a research report on Monday, December 2nd. Raymond James increased their price target on shares of Apple to $250.00 and gave the stock a "buy" rating in a research report on Monday, January 20th. Finally, JPMorgan Chase & Co. lowered their price objective on Apple from $265.00 to $260.00 in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.