Apple Inc. (AAPL) Position Increased by Eastern Bank

Eastern Bank increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 186,832 shares of the iPhone maker’s stock after acquiring an additional 149 shares during the period. Apple comprises about 2.2% of Eastern Bank’s portfolio, making the stock its 4th biggest position. Eastern Bank’s holdings in Apple were worth $29,472,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. lifted its holdings in shares of Apple by 30.6% in the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group lifted its holdings in shares of Apple by 15.0% in the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after purchasing an additional 105 shares in the last quarter. Selective Wealth Management purchased a new stake in shares of Apple in the third quarter valued at about $194,000. Lawson Kroeker Investment Management Inc. NE purchased a new stake in shares of Apple in the third quarter valued at about $201,000. Finally, Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Apple in the third quarter valued at about $201,000. 57.38% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Luca Maestri sold 51,138 shares of the stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 1,521 shares of the stock in a transaction on 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. Corporate insiders own 0.05% of the company’s stock.

Several brokerages have issued reports on AAPL. BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Credit Suisse Group began coverage on shares of Apple in a report on Thursday, April 11th. They issued a “neutral” rating and a $209.00 price target on the stock. Wedbush raised shares of Apple to an “outperform” rating and upped their price target for the company from $215.00 to $225.00 in a report on Tuesday, April 9th. New Street Research downgraded shares of Apple from a “neutral” rating to a “sell” rating and set a $170.00 price target on the stock. in a report on Friday, April 12th. Finally, HSBC downgraded shares of Apple from a “hold” rating to a “reduce” rating and upped their price target for the company from $160.00 to $180.00 in a report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $202.45.

Shares of AAPL stock opened at $203.86 on Monday. Apple Inc. has a one year low of $142.00 and a one year high of $233.47. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.79. The company has a market cap of $1,002.00 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.08 and a beta of 1.14.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 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 firm had revenue of $84.31 billion during the quarter, compared to analyst estimates of $84.07 billion. Research analysts anticipate that Apple Inc. will post 11.41 EPS for the current year.

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About Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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