Lumbard & Kellner LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 9.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,920 shares of the iPhone maker’s stock after selling 200 shares during the period. Lumbard & Kellner LLC’s holdings in Apple were worth $488,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd increased its position in Apple by 2,180.0% during the fourth quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock worth $33,000 after buying an additional 109 shares during the last quarter. Stralem & Co. Inc. acquired a new position in Apple during the first quarter worth approximately $39,000. Sycomore Asset Management acquired a new position in Apple during the first quarter worth approximately $50,000. Sofos Investments Inc. increased its position in Apple by 16.9% during the first quarter. Sofos Investments Inc. now owns 940 shares of the iPhone maker’s stock worth $99,000 after buying an additional 136 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. acquired a new position in Apple during the fourth quarter worth approximately $117,000. Institutional investors and hedge funds own 62.04% of the company’s stock.
Shares of AAPL opened at $361.78 on Tuesday. Apple Inc. has a 52 week low of $192.58 and a 52 week high of $372.38. The stock has a market capitalization of $1,532.75 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 2.61 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.46 and a current ratio of 1.50. The stock has a fifty day moving average of $331.04 and a 200-day moving average of $299.26.
In other Apple news, CFO Luca Maestri sold 41,062 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $264.44, for a total transaction of $10,858,435.28. Following the completion of the sale, the chief financial officer now directly owns 65,427 shares in the company, valued at approximately $17,301,515.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 9,137 shares of the stock in a transaction dated Thursday, April 16th. The stock was 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. Insiders sold 95,752 shares of company stock valued at $24,750,125 over the last 90 days. 0.05% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on AAPL shares. Credit Suisse Group set a $295.00 price target on Apple and gave the stock a “neutral” rating in a research report on Tuesday, June 23rd. DZ Bank reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, June 3rd. Oppenheimer reaffirmed a “buy” rating and issued a $320.00 target price on shares of Apple in a research report on Tuesday, June 23rd. Nomura Securities upped their target price on Apple from $225.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, Morgan Stanley upped their target price on Apple from $326.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $326.64.
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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