Edge Wealth Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 20.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 104,783 shares of the iPhone maker’s stock after purchasing an additional 17,524 shares during the quarter. Apple comprises about 4.7% of Edge Wealth Management LLC’s holdings, making the stock its 2nd largest position. Edge Wealth Management LLC’s holdings in Apple were worth $16,528,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rothschild & Co. Asset Management US Inc. lifted its stake in shares of Apple by 9.0% in the 3rd quarter. Rothschild & Co. Asset Management US Inc. now owns 304,348 shares of the iPhone maker’s stock valued at $68,704,000 after acquiring an additional 25,092 shares during the last quarter. Wechter Feldman Wealth Management Inc. increased its holdings in Apple by 29.1% during the 2nd quarter. Wechter Feldman Wealth Management Inc. now owns 2,918 shares of the iPhone maker’s stock valued at $540,000 after purchasing an additional 657 shares during the period. Newman Dignan & Sheerar Inc. increased its holdings in Apple by 5.2% during the 3rd quarter. Newman Dignan & Sheerar Inc. now owns 23,123 shares of the iPhone maker’s stock valued at $5,186,000 after purchasing an additional 1,142 shares during the period. Dundas Partners LLP increased its holdings in Apple by 28.0% during the 3rd quarter. Dundas Partners LLP now owns 43,775 shares of the iPhone maker’s stock valued at $12,083,000 after purchasing an additional 9,585 shares during the period. Finally, United Capital Management of KS Inc. purchased a new position in Apple during the 3rd quarter valued at about $3,860,000. Institutional investors own 57.38% of the company’s stock.
Shares of NASDAQ:AAPL traded up $0.73 during midday trading on Friday, hitting $203.86. The company had a trading volume of 24,195,766 shares, compared to its average volume of 27,505,466. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.30 and a quick ratio of 1.25. The firm has a market capitalization of $1,002.00 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.08 and a beta of 1.14. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $233.47.
In other news, insider Luca Maestri sold 51,138 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the completion of the transaction, the insider now owns 27,448 shares in the company, valued at $5,396,551.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arthur D. Levinson sold 1,521 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $167.71, for a total value of $255,086.91. Following the transaction, the director now owns 1,134,804 shares of the company’s stock, valued at approximately $190,317,978.84. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.
AAPL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. set a $228.00 price target on Apple and gave the company a “buy” rating in a report on Wednesday, January 30th. Wedbush set a $275.00 target price on Apple and gave the stock a “buy aapl” rating in a report on Monday, December 24th. Goldman Sachs Group set a $140.00 target price on Apple and gave the stock a “neutral” rating in a report on Tuesday, February 12th. Bank of America upgraded Apple from a “neutral” rating to a “buy” rating and upped their target price for the stock from $180.00 to $210.00 in a report on Monday, March 11th. They noted that the move was a valuation call. Finally, UBS Group reiterated a “buy” rating and set a $180.00 target price on shares of Apple in a report on Monday, January 14th. Three equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $202.45.
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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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