Primecap Management Co. CA Purchases 9,700 Shares of Apple Inc. (NASDAQ:AAPL)

Primecap Management Co. CA boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,260,500 shares of the iPhone maker's stock after buying an additional 9,700 shares during the period. Primecap Management Co. CA's holdings in Apple were worth $526,696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of 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 valued at $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. Strategic Financial Concepts LLC lifted its holdings in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker's stock valued at $1,603,000 after acquiring an additional 7,558,826 shares during the period. Pathway Financial Advisers LLC boosted its stake in shares of Apple by 22,870.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker's stock valued at $1,302,607,000 after purchasing an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Apple in the 2nd quarter worth about $834,368,000. Finally, National Pension Service increased its position in shares of Apple by 14.0% during the 3rd quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker's stock worth $6,496,738,000 after purchasing an additional 3,416,922 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. KeyCorp lowered Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Loop Capital cut shares of Apple from a "buy" rating to a "hold" rating and set a $230.00 price target on the stock. in a research note on Tuesday, January 21st. Bank of America restated a "buy" rating and issued a $253.00 price objective (down previously from $256.00) on shares of Apple in a research report on Friday, January 24th. Morgan Stanley reiterated an "overweight" rating and issued a $273.00 price objective on shares of Apple in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. cut their price target on Apple from $265.00 to $260.00 in a research note on Thursday. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $238.05.

Apple Stock Down 0.7 %

AAPL traded down $1.74 during trading hours on Thursday, hitting $237.62. 32,786,231 shares of the company's stock were exchanged, compared to its average volume of 56,478,961. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The stock's 50-day moving average is $241.37 and its two-hundred day moving average is $230.81. The stock has a market cap of $3.57 trillion, a price-to-earnings ratio of 39.08, a PEG ratio of 2.19 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $94.93 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. Sell-side analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple 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 completion of the transaction, the chief operating officer now owns 389,944 shares of the company's stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the company'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 sale, the insider now directly 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. Company insiders own 0.06% of the company's stock.

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.