Northwest Bancshares Inc. Has $11.41 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Northwest Bancshares Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 80,633 shares of the iPhone maker’s stock after selling 1,002 shares during the quarter. Apple accounts for about 2.6% of Northwest Bancshares Inc.’s investment portfolio, making the stock its 4th biggest holding. Northwest Bancshares Inc.’s holdings in Apple were worth $11,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Apple by 2.1% during the second quarter. Vanguard Group Inc. now owns 1,264,936,543 shares of the iPhone maker’s stock valued at $173,245,709,000 after purchasing an additional 25,553,808 shares during the period. FMR LLC grew its holdings in Apple by 1.6% during the second quarter. FMR LLC now owns 350,462,986 shares of the iPhone maker’s stock valued at $47,999,410,000 after purchasing an additional 5,510,838 shares during the period. Geode Capital Management LLC grew its holdings in Apple by 1.7% during the second quarter. Geode Capital Management LLC now owns 254,162,496 shares of the iPhone maker’s stock valued at $34,705,731,000 after purchasing an additional 4,356,200 shares during the period. Morgan Stanley grew its holdings in Apple by 2.8% during the second quarter. Morgan Stanley now owns 125,859,709 shares of the iPhone maker’s stock valued at $17,237,745,000 after purchasing an additional 3,472,624 shares during the period. Finally, Legal & General Group Plc grew its holdings in Apple by 3.6% during the second quarter. Legal & General Group Plc now owns 103,466,388 shares of the iPhone maker’s stock valued at $14,170,746,000 after purchasing an additional 3,613,141 shares during the period. 56.40% of the stock is owned by institutional investors.

In other news, insider Chris Kondo sold 9,005 shares of the company’s stock in a transaction that occurred on Friday, November 12th. The stock was sold at an average price of $150.00, for a total transaction of $1,350,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $148.68, for a total value of $3,717,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 473,347 shares of company stock worth $67,822,283. Company insiders own 0.06% of the company’s stock.

AAPL has been the subject of several recent research reports. Bank of America set a $160.00 price target on Apple and gave the company a “neutral” rating in a report on Wednesday, October 13th. Tigress Financial boosted their price target on Apple from $182.00 to $198.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 22nd. Evercore ISI raised Apple to a “buy” rating and set a $180.00 price target for the company in a report on Friday, September 10th. Jefferies Financial Group assumed coverage on Apple in a research report on Monday, September 13th. They issued a “buy” rating and a $175.00 price objective on the stock. Finally, Robert W. Baird restated a “buy” rating and issued a $169.00 price objective on shares of Apple in a research report on Friday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Buy” and an average price target of $165.56.

Shares of AAPL stock opened at $161.94 on Thursday. Apple Inc. has a 1 year low of $115.17 and a 1 year high of $165.70. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.07 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $148.13 and its two-hundred day simple moving average is $142.67. The company has a market cap of $2.66 trillion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Wednesday, October 27th. The iPhone maker reported $1.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.24. Apple had a return on equity of 144.13% and a net margin of 25.88%. The business had revenue of $83.40 billion for the quarter, compared to the consensus estimate of $84.94 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 5.77 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 11th. Shareholders of record on Monday, November 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, November 5th. This represents a $0.88 dividend on an annualized basis and a yield of 0.54%. Apple’s dividend payout ratio (DPR) is presently 15.66%.

Apple Profile

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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