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.
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.
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.
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