Apple Inc. (NASDAQ:AAPL) Shares Sold by Portfolio Design Labs LLC

Portfolio Design Labs LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,538 shares of the iPhone maker’s stock after selling 6,069 shares during the quarter. Apple makes up about 5.2% of Portfolio Design Labs LLC’s holdings, making the stock its 2nd largest position. Portfolio Design Labs LLC’s holdings in Apple were worth $18,532,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. International Assets Investment Management LLC increased its position in Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. Strategic Financial Concepts LLC increased its position in Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. Pathway Financial Advisers LLC increased its position in Apple by 22,870.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after purchasing an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Apple during the 2nd quarter worth about $834,368,000. Finally, National Pension Service increased its position in Apple by 14.0% during the 3rd quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker’s stock worth $6,496,738,000 after purchasing an additional 3,416,922 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several recent analyst reports. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Monness Crespi & Hardt lifted their price target on Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Moffett Nathanson restated a “sell” rating and issued a $188.00 price target (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Citigroup lifted their price target on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $238.05.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction 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. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Trading Up 0.5 %

NASDAQ AAPL opened at $239.36 on Thursday. Apple Inc. has a 12 month low of $164.07 and a 12 month 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 company has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company’s fifty day moving average price is $241.17 and its two-hundred day moving average price is $230.75.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the firm posted $1.46 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Company 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.