Cape Cod Five Cents Savings Bank decreased its stake in Apple Inc. (NASDAQ:AAPL) by 3.8% in the 3rd quarter, Holdings Channel reports. The firm owned 68,404 shares of the iPhone maker’s stock after selling 2,708 shares during the quarter. Apple makes up about 2.3% of Cape Cod Five Cents Savings Bank’s investment portfolio, making the stock its 9th biggest position. Cape Cod Five Cents Savings Bank’s holdings in Apple were worth $15,441,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Delphi Private Advisors LLC bought a new position in shares of Apple during the second quarter valued at $120,000. CX Institutional bought a new position in shares of Apple during the second quarter valued at $135,000. Selective Wealth Management bought a new position in shares of Apple during the third quarter valued at $194,000. Lawson Kroeker Investment Management Inc. NE bought a new position in shares of Apple during the third quarter valued at $201,000. Finally, Boston Standard Wealth Management LLC bought a new position in shares of Apple during the third quarter valued at $204,000. 57.06% of the stock is owned by institutional investors and hedge funds.
AAPL has been the subject of several analyst reports. DA Davidson dropped their price target on shares of Apple to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 3rd. New Street Research reaffirmed a “sell” rating on shares of Apple in a research note on Tuesday, September 18th. Robert W. Baird dropped their price target on shares of Apple from $230.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday, January 3rd. Citigroup dropped their price target on shares of Apple from $265.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Finally, ValuEngine downgraded shares of Apple from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Three investment analysts have rated the stock with a sell rating, twenty-six have given a hold rating and twenty-two have assigned a buy rating to the company. Apple presently has a consensus rating of “Hold” and a consensus price target of $195.19.
In other Apple news, insider Chris Kondo sold 3,408 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $190.00, for a total value of $647,520.00. Following the completion of the sale, the insider now directly owns 8,940 shares in the company, valued at $1,698,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.
NASDAQ:AAPL opened at $152.29 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $753.54 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 1.45 and a beta of 1.23. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $233.47.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. The business had revenue of $62.90 billion during the quarter, compared to analysts’ expectations of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the company posted $2.07 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 12.1 EPS for the current year.
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Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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