Intech Investment Management LLC Has $544.41 Million Stake in Apple Inc. (NASDAQ:AAPL)

Intech Investment Management LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 16.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,336,542 shares of the iPhone maker’s stock after selling 447,141 shares during the quarter. Apple makes up 6.1% of Intech Investment Management LLC’s portfolio, making the stock its biggest position. Intech Investment Management LLC’s holdings in Apple were worth $544,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. High Net Worth Advisory Group LLC lifted its holdings in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares during the last quarter. Granite Investment Partners LLC boosted its holdings in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after purchasing an additional 7,606 shares during the period. Amara Financial LLC. bought a new stake in Apple during the third quarter valued at $288,000. Truist Financial Corp raised its holdings in shares of Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares during the period. Finally, Sterling Investment Counsel LLC lifted its position in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after buying an additional 2,565 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % 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 company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AAPL shares. Jefferies Financial Group lowered shares of Apple from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $211.84 to $200.75 in a research note on Tuesday, January 21st. Barclays cut their price target on Apple from $184.00 to $183.00 and set an “underweight” rating on the stock in a report on Wednesday, January 22nd. Sanford C. Bernstein upped their price objective on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $238.05.

Apple Trading Up 0.5 %

Apple stock opened at $239.36 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The company’s fifty day simple moving average is $241.17 and its 200-day simple moving average is $230.75. The stock has a market cap of $3.60 trillion, a P/E ratio of 39.37, a P/E/G ratio of 2.19 and a beta of 1.20.

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

About Apple

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.