Apple Inc. (NASDAQ:AAPL) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 10.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,170 shares of the iPhone maker’s stock after buying an additional 11,600 shares during the period. Apple accounts for about 3.1% of Summit Trail Advisors LLC’s holdings, making the stock its 4th biggest holding. Summit Trail Advisors LLC’s holdings in Apple were worth $20,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Quattro Financial Advisors LLC acquired a new stake in Apple during the first quarter worth approximately $133,000. Smart Portfolios LLC acquired a new stake in Apple during the first quarter worth approximately $134,000. Spectrum Financial Alliance Ltd LLC acquired a new stake in Apple during the first quarter worth approximately $138,000. Macroview Investment Management LLC grew its stake in Apple by 220.3% during the first quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 619 shares during the period. Finally, Litman Gregory Asset Management LLC grew its stake in Apple by 553.8% during the first quarter. Litman Gregory Asset Management LLC now owns 1,033 shares of the iPhone maker’s stock worth $173,000 after purchasing an additional 875 shares during the period. 58.58% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on AAPL. Wells Fargo & Co set a $210.00 target price on Apple and gave the stock a “neutral” rating in a research note on Monday, October 1st. Oppenheimer reaffirmed a “neutral” rating on shares of Apple in a research note on Monday, October 1st. Morgan Stanley reaffirmed a “buy” rating and set a $245.00 target price (up previously from $232.00) on shares of Apple in a research note on Wednesday, September 5th. DA Davidson reaffirmed a “buy” rating and set a $265.00 target price (up previously from $230.00) on shares of Apple in a research note on Wednesday, September 5th. Finally, DZ Bank reissued a “buy” rating on shares of Apple in a research note on Monday, September 3rd. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirty have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $221.63.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the sale, the senior vice president now directly owns 105,538 shares in the company, valued at $24,554,471.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 61,998 shares of Apple stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $232.33, for a total value of $14,403,995.34. Following the sale, the chief operating officer now owns 124,695 shares in the company, valued at $28,970,389.35. The disclosure for this sale can be found here. Insiders have sold 564,185 shares of company stock worth $124,444,213 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

AAPL stock opened at $223.77 on Tuesday. The company has a market capitalization of $1,109.54 billion, a PE ratio of 24.30, a P/E/G ratio of 1.99 and a beta of 1.36. Apple Inc. has a twelve month low of $150.24 and a twelve month high of $233.47. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.16. The business had revenue of $53.27 billion for the quarter, compared to analyst estimates of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. Apple’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $1.67 earnings per share. Equities research analysts anticipate that Apple Inc. will post 11.76 EPS for the current fiscal year.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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