ELM Advisors LLC Has $1.98 Million Position in Apple Inc. (NASDAQ:AAPL)

ELM Advisors LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,518 shares of the iPhone maker’s stock after selling 83 shares during the period. Apple makes up approximately 1.6% of ELM Advisors LLC’s portfolio, making the stock its 15th biggest holding. ELM Advisors LLC’s holdings in Apple were worth $1,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Selective Wealth Management purchased a new position in Apple in the third quarter valued at approximately $194,000. Lawson Kroeker Investment Management Inc. NE purchased a new position in Apple in the third quarter valued at approximately $201,000. Boston Standard Wealth Management LLC purchased a new position in Apple in the third quarter valued at approximately $204,000. Leith Wheeler Investment Counsel Ltd. purchased a new position in Apple in the third quarter valued at approximately $201,000. Finally, Moller Financial Services purchased a new position in Apple in the third quarter valued at approximately $226,000. Hedge funds and other institutional investors own 57.38% of the company’s stock.

NASDAQ:AAPL traded up $0.36 during midday trading on Monday, hitting $199.23. The company had a trading volume of 16,397,416 shares, compared to its average volume of 30,731,793. Apple Inc. has a 52-week low of $142.00 and a 52-week high of $233.47. The firm has a market capitalization of $977.47 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 2.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.25 and a current ratio of 1.30.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.17 by $0.01. Apple had a net margin of 22.72% and a return on equity of 50.92%. The company had revenue of $84.31 billion during the quarter, compared to analyst estimates of $84.07 billion. On average, sell-side analysts forecast that Apple Inc. will post 11.41 EPS for the current fiscal year.

In other Apple news, insider Luca Maestri sold 51,138 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the completion of the sale, the insider now directly owns 27,448 shares in the company, valued at $5,396,551.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arthur D. Levinson sold 1,521 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $167.71, for a total transaction of $255,086.91. Following the sale, the director now owns 1,134,804 shares of the company’s stock, valued at $190,317,978.84. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by insiders.

A number of equities research analysts have issued reports on the stock. BidaskClub cut shares of Apple from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Credit Suisse Group assumed coverage on shares of Apple in a report on Thursday. They set a “neutral” rating and a $209.00 target price on the stock. Morgan Stanley set a $220.00 target price on shares of Apple and gave the company a “buy” rating in a report on Tuesday, March 26th. ValuEngine raised shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Finally, Citigroup reissued a “buy” rating and set a $220.00 target price (up previously from $170.00) on shares of Apple in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Apple presently has a consensus rating of “Hold” and a consensus price target of $202.45.

ILLEGAL ACTIVITY WARNING: “ELM Advisors LLC Has $1.98 Million Position in Apple Inc. (NASDAQ:AAPL)” was reported by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this report on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this report can be accessed at https://www.baseballdailydigest.com/news/2019/04/15/elm-advisors-llc-decreases-position-in-apple-inc-aapl.html.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Read More: LIBOR

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.