Global Trust Asset Management LLC Decreases Position in Apple Inc. (NASDAQ:AAPL)

Global Trust Asset Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,833 shares of the iPhone maker’s stock after selling 3,024 shares during the quarter. Apple comprises about 1.7% of Global Trust Asset Management LLC’s holdings, making the stock its 10th largest position. Global Trust Asset Management LLC’s holdings in Apple were worth $1,866,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Rothschild & Co. Asset Management US Inc. increased its holdings in Apple by 9.0% during 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 purchasing an additional 25,092 shares during the period. 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 Apple stock traded up $0.73 during trading on Friday, reaching $203.86. 24,195,766 shares of the stock traded hands, compared to its average volume of 27,505,466. The firm has a market cap of $1,002.00 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 2.08 and a beta of 1.14. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.79. Apple Inc. has a 52-week low of $142.00 and a 52-week high of $233.47.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $84.31 billion during the quarter, compared to the consensus estimate of $84.07 billion. On average, equities analysts expect that Apple Inc. will post 11.41 EPS for the current fiscal year.

A number of research analysts have weighed in on the company. BidaskClub downgraded Apple from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Morgan Stanley set a $220.00 target price on Apple and gave the stock a “buy” rating in a report on Tuesday, March 26th. ValuEngine upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, March 15th. JPMorgan Chase & Co. set a $228.00 price target on Apple and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, Credit Suisse Group initiated coverage on Apple in a research report on Thursday, April 11th. They issued a “neutral” rating and a $209.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Apple currently has a consensus rating of “Hold” and an average price target of $202.45.

In other Apple news, insider Luca Maestri sold 51,138 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $196.61, for a total value of $10,054,242.18. Following the completion of the sale, the insider now owns 27,448 shares of the company’s stock, valued at $5,396,551.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 stock was sold at an average price of $167.71, for a total transaction of $255,086.91. Following the completion of the sale, the director now directly 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. 0.05% of the stock is currently owned by company insiders.

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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: What is a Lock-Up Period?

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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