Zurich Insurance Group Ltd FI decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 787,930 shares of the iPhone maker’s stock after selling 46,999 shares during the quarter. Apple makes up 4.3% of Zurich Insurance Group Ltd FI’s investment portfolio, making the stock its 3rd largest position. Zurich Insurance Group Ltd FI’s holdings in Apple were worth $200,363,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of AAPL. Altshuler Shaham Ltd boosted its stake in Apple by 2,180.0% in the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 109 shares during the period. Stralem & Co. Inc. bought a new position in Apple in the 1st quarter worth about $39,000. Sycomore Asset Management bought a new position in Apple in the 1st quarter worth about $50,000. Sofos Investments Inc. boosted its stake in Apple by 16.9% in the 1st quarter. Sofos Investments Inc. now owns 940 shares of the iPhone maker’s stock worth $99,000 after purchasing an additional 136 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. bought a new position in Apple in the 4th quarter worth about $117,000. Institutional investors own 62.04% of the company’s stock.
Shares of Apple stock opened at $353.63 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.50 and a quick ratio of 1.46. The business’s 50 day simple moving average is $328.30 and its two-hundred day simple moving average is $298.00. The stock has a market capitalization of $1,532.75 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 2.61 and a beta of 1.18. Apple Inc. has a one year low of $192.58 and a one year high of $372.38.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share for the quarter, topping the Zacks’ 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%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned $2.46 EPS. Sell-side analysts expect that Apple Inc. will post 12.32 earnings per share for the current fiscal year.
In other news, insider Chris Kondo sold 4,491 shares of Apple stock in a transaction that occurred on 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 sale, the insider now directly owns 7,370 shares in the company, valued at approximately $2,252,419.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Luca Maestri sold 41,062 shares of Apple stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $264.44, for a total value of $10,858,435.28. Following the completion of the sale, the chief financial officer now owns 65,427 shares in the company, valued at $17,301,515.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,752 shares of company stock worth $24,750,125. Corporate insiders own 0.05% of the company’s stock.
Several research analysts have commented on AAPL shares. Citigroup raised their target price on Apple from $310.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. UBS Group lifted their price target on Apple from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Deutsche Bank lifted their price target on Apple from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Goldman Sachs Group reiterated a “sell” rating and set a $263.00 price target on shares of Apple in a research report on Tuesday, June 23rd. Finally, Bank of America reiterated a “buy” rating and set a $390.00 price target (up previously from $340.00) on shares of Apple in a research report on Thursday, June 11th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average 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.
Featured Story: How can investors find ex-dividend dates?
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.