Primecap Management Co. CA Buys 9,700 Shares of Apple Inc. (NASDAQ:AAPL)

Primecap Management Co. CA raised its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,260,500 shares of the iPhone maker’s stock after buying an additional 9,700 shares during the period. Primecap Management Co. CA’s holdings in Apple were worth $526,696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares during the period. Ameriprise Financial Inc. raised its position in Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after purchasing an additional 3,245,281 shares during the period. American Century Companies Inc. boosted its position in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after buying an additional 1,065,759 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Apple by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 34,486,195 shares of the iPhone maker’s stock valued at $8,035,283,000 after buying an additional 432,140 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $239.36 on Thursday. The company has a 50-day moving average price of $241.17 and a 200-day moving average price of $230.75. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. 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.

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

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Tuesday, January 21st. Barclays dropped their price objective on Apple from $184.00 to $183.00 and set an “underweight” rating for the company in a research note on Wednesday, January 22nd. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective on the stock. in a research report on Tuesday, January 21st. Finally, Citigroup increased their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.05.

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.