King Luther Capital Management Corp reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,037,915 shares of the iPhone maker’s stock after selling 29,821 shares during the period. Apple comprises 6.0% of King Luther Capital Management Corp’s portfolio, making the stock its largest holding. King Luther Capital Management Corp’s holdings in Apple were worth $1,406,834,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Bull Oak Capital LLC boosted its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple during the second quarter valued at about $42,000. Christopher J. Hasenberg Inc increased its holdings in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. ARK Investment Management LLC purchased a new stake in shares of Apple in the third quarter worth about $110,000. Finally, Cordant Inc. grew its holdings in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Citigroup boosted their target price on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group reduced their target price on Apple from $286.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, Moffett Nathanson reissued a “sell” rating and set a $188.00 target price (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $238.05.
Insider Transactions at Apple
In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
Apple Stock Up 0.5 %
NASDAQ:AAPL opened at $239.36 on Thursday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.60 trillion, a P/E ratio of 39.37, a PEG ratio of 2.19 and a beta of 1.20. The company’s fifty day moving average price is $241.17 and its 200-day moving average price is $230.75.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the business earned $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.
Apple Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
Featured Articles
- Five stocks we like better than Apple
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- How to Short Sell Stocks Like a Pro: Strategies and Tips
- What is a Dividend King?
- 3 Steel Stocks Soaring After Tariff Announcements
- What to Know About Investing in Penny Stocks
- Top Analysts’ Picks for 2025: 3 of Morgan Stanley’s Favorites
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.