Advisor Group Holdings Inc. bought a new stake in Apple Inc. (NASDAQ:AAPL) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 116,768,396 shares of the iPhone maker’s stock, valued at approximately $536,884,000. Apple makes up approximately 2.2% of Advisor Group Holdings Inc.’s portfolio, making the stock its 2nd biggest holding. Advisor Group Holdings Inc. owned 2.69% of Apple at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Korea Investment CORP raised its holdings in Apple by 6.3% in the fourth quarter. Korea Investment CORP now owns 3,753,051 shares of the iPhone maker’s stock valued at $1,102,083,000 after acquiring an additional 221,800 shares in the last quarter. Atlas Private Wealth Management acquired a new stake in Apple in the fourth quarter valued at approximately $4,730,000. Blair William & Co. IL raised its holdings in Apple by 2.0% in the fourth quarter. Blair William & Co. IL now owns 2,568,117 shares of the iPhone maker’s stock valued at $754,128,000 after acquiring an additional 49,316 shares in the last quarter. Altshuler Shaham Ltd raised its holdings in Apple by 2,180.0% in the fourth quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 109 shares in the last quarter. Finally, Capital International Ltd. CA raised its holdings in Apple by 37.6% during the fourth quarter. Capital International Ltd. CA now owns 16,051 shares of the iPhone maker’s stock worth $4,713,000 after purchasing an additional 4,382 shares in the last quarter. 62.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Deutsche Bank raised their price objective on shares of Apple from $350.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Raymond James raised their price objective on shares of Apple from $305.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Daiwa Capital Markets raised their price objective on shares of Apple from $297.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. HSBC raised shares of Apple from a “reduce” rating to a “hold” rating and cut their price objective for the stock from $385.00 to $295.00 in a report on Wednesday, June 10th. Finally, Wells Fargo & Co raised their price objective on shares of Apple from $315.00 to $385.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $326.64.
Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.29. Apple had a return on equity of 64.49% and a net margin of 21.35%. The company had revenue of $58.31 billion during the quarter, compared to the consensus estimate of $54.64 billion. During the same quarter last year, the company earned $2.46 earnings per share. Apple’s quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 12.32 EPS for the current year.
In other Apple news, insider Chris Kondo sold 4,491 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $305.62, for a total value of $1,372,539.42. Following the completion of the sale, the insider now owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 9,137 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $285.12, for a total value of $2,605,141.44. The disclosure for this sale can be found here. In the last three months, insiders sold 95,752 shares of company stock valued at $24,750,125. 0.05% of the stock is owned by corporate insiders.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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