Dowling & Yahnke LLC Buys 1,064 Shares of Apple Inc. (NASDAQ:AAPL)

Dowling & Yahnke LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 120,310 shares of the iPhone maker’s stock after acquiring an additional 1,064 shares during the period. Apple accounts for about 2.9% of Dowling & Yahnke LLC’s holdings, making the stock its 5th largest position. Dowling & Yahnke LLC’s holdings in Apple were worth $30,594,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Caxton Associates LP lifted its position in shares of Apple by 198.1% in the 1st quarter. Caxton Associates LP now owns 15,503 shares of the iPhone maker’s stock worth $3,942,000 after acquiring an additional 10,303 shares during the period. AQR Capital Management LLC lifted its position in shares of Apple by 2.6% in the 1st quarter. AQR Capital Management LLC now owns 6,060,102 shares of the iPhone maker’s stock worth $1,541,023,000 after acquiring an additional 154,245 shares during the period. Forbes J M & Co. LLP lifted its position in shares of Apple by 13.7% in the 1st quarter. Forbes J M & Co. LLP now owns 57,999 shares of the iPhone maker’s stock worth $14,749,000 after acquiring an additional 7,009 shares during the period. Old North State Trust LLC lifted its position in shares of Apple by 1.0% in the 1st quarter. Old North State Trust LLC now owns 13,757 shares of the iPhone maker’s stock worth $3,498,000 after acquiring an additional 130 shares during the period. Finally, Engineers Gate Manager LP lifted its position in shares of Apple by 1,588.8% in the 1st quarter. Engineers Gate Manager LP now owns 18,492 shares of the iPhone maker’s stock worth $4,702,000 after acquiring an additional 17,397 shares during the period. 62.04% of the stock is currently owned by institutional investors and hedge funds.

AAPL has been the subject of a number of recent research reports. Nomura Instinet increased their target price on Apple from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Canaccord Genuity increased their target price on Apple from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, May 1st. HSBC raised Apple from a “reduce” rating to a “hold” rating and dropped their target price for the stock from $385.00 to $295.00 in a report on Wednesday, June 10th. Daiwa Capital Markets lifted their target price on Apple from $297.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, BidaskClub raised Apple from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Apple has a consensus rating of “Buy” and a consensus price target of $326.64.

In other news, COO Jeffrey E. Williams sold 41,062 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $241.44, for a total transaction of $9,914,009.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,491 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the transaction, the insider now owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The disclosure for this sale can be found here. Insiders have sold 95,752 shares of company stock valued at $24,750,125 over the last quarter. Company insiders own 0.05% of the company’s stock.

NASDAQ AAPL opened at $361.78 on Tuesday. The business has a fifty day moving average price of $331.04 and a two-hundred day moving average price of $299.26. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.50 and a quick ratio of 1.46. Apple Inc. has a fifty-two week low of $192.58 and a fifty-two week high of $372.38. The stock has a market capitalization of $1,532.75 billion, a PE ratio of 27.74, a PEG ratio of 2.61 and a beta of 1.18.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.29. The company had revenue of $58.31 billion during the quarter, compared to the consensus estimate of $54.64 billion. Apple had a net margin of 21.35% and a return on equity of 64.49%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 12.32 earnings per share for the current year.

Apple Profile

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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