Peapack Gladstone Financial Corp Has $80.92 Million Stake in Apple Inc. (NASDAQ:AAPL)

Peapack Gladstone Financial Corp increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,206 shares of the iPhone maker’s stock after buying an additional 14,698 shares during the quarter. Apple comprises approximately 3.8% of Peapack Gladstone Financial Corp’s holdings, making the stock its largest position. Peapack Gladstone Financial Corp’s holdings in Apple were worth $80,917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cooper Financial Group grew its stake in Apple by 24.6% during the 1st quarter. Cooper Financial Group now owns 32,216 shares of the iPhone maker’s stock worth $8,192,000 after buying an additional 6,357 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Apple by 29.2% in the first quarter. Capital Research Global Investors now owns 8,842,313 shares of the iPhone maker’s stock worth $2,248,512,000 after purchasing an additional 1,997,259 shares in the last quarter. Dowling & Yahnke LLC grew its stake in shares of Apple by 0.9% in the first quarter. Dowling & Yahnke LLC now owns 120,310 shares of the iPhone maker’s stock worth $30,594,000 after purchasing an additional 1,064 shares in the last quarter. Caxton Associates LP grew its stake in shares of Apple by 198.1% in the first quarter. Caxton Associates LP now owns 15,503 shares of the iPhone maker’s stock worth $3,942,000 after purchasing an additional 10,303 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Apple by 2.6% in the first quarter. AQR Capital Management LLC now owns 6,060,102 shares of the iPhone maker’s stock worth $1,541,023,000 after purchasing an additional 154,245 shares in the last quarter. Hedge funds and other institutional investors own 62.04% of the company’s stock.

NASDAQ:AAPL opened at $361.78 on Tuesday. The firm 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. Apple Inc. has a 1-year low of $192.58 and a 1-year high of $372.38. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.14. The business’s fifty day moving average price is $331.04 and its 200 day moving average price is $299.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.29. The firm had revenue of $58.31 billion for the quarter, compared to analyst estimates of $54.64 billion. Apple had a return on equity of 64.49% and a net margin of 21.35%. Apple’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 earnings per share. Equities analysts forecast that Apple Inc. will post 12.32 earnings per share for the current year.

In other Apple news, insider Chris Kondo sold 4,491 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 7,370 shares of the company’s stock, valued at approximately $2,252,419.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 41,062 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $241.44, for a total value of $9,914,009.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,752 shares of company stock worth $24,750,125. Insiders own 0.05% of the company’s stock.

AAPL has been the subject of several recent analyst reports. Raymond James increased their price target on Apple from $305.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Citigroup increased their price target on Apple from $310.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. DZ Bank reissued a “buy” rating on shares of Apple in a research note on Wednesday, June 3rd. Monness Crespi & Hardt initiated coverage on Apple in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $370.00 price target for the company. Finally, Credit Suisse Group set a $295.00 price objective on Apple and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Three equities 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 given a strong buy rating to the company’s stock. Apple presently has an average rating of “Buy” and an average price target of $326.64.

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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