EULAV Asset Management Boosts Holdings in Apple Inc. (NASDAQ:AAPL)

EULAV Asset Management boosted its position in Apple Inc. (NASDAQ:AAPL) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,056 shares of the iPhone maker’s stock after purchasing an additional 4,003 shares during the quarter. EULAV Asset Management’s holdings in Apple were worth $20,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Rooted Wealth Advisors Inc. lifted its holdings in shares of Apple by 14.9% during the 2nd quarter. Rooted Wealth Advisors Inc. now owns 13,702 shares of the iPhone maker’s stock worth $3,072,000 after acquiring an additional 1,776 shares during the last quarter. New Millennium Group LLC lifted its holdings in shares of Apple by 35.6% during the 2nd quarter. New Millennium Group LLC now owns 51,995 shares of the iPhone maker’s stock worth $10,951,000 after acquiring an additional 13,638 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of Apple by 2.6% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 21,069 shares of the iPhone maker’s stock worth $4,438,000 after acquiring an additional 524 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Apple by 3.3% during the 2nd quarter. Proficio Capital Partners LLC now owns 106,350 shares of the iPhone maker’s stock worth $22,400,000 after acquiring an additional 3,386 shares during the last quarter. Finally, IMA Advisory Services Inc. lifted its holdings in shares of Apple by 2.3% during the 2nd quarter. IMA Advisory Services Inc. now owns 39,261 shares of the iPhone maker’s stock worth $8,269,000 after acquiring an additional 900 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on AAPL. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Jefferies Financial Group downgraded shares of Apple from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $211.84 to $200.75 in a research note on Tuesday, January 21st. Moffett Nathanson reissued a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. Finally, Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, ten have assigned 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 stock has a consensus rating of “Moderate Buy” and an average price target of $238.05.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on 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 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 filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the company’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 completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $239.36 on Thursday. The stock has a market cap of $3.60 trillion, a PE ratio of 39.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The firm’s 50-day simple moving average is $241.17 and its two-hundred day simple moving average is $230.75.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. Analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal 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.