Gradient Investments LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,495 shares of the iPhone maker’s stock after buying an additional 1,927 shares during the period. Apple makes up approximately 1.0% of Gradient Investments LLC’s portfolio, making the stock its 21st biggest position. Gradient Investments LLC’s holdings in Apple were worth $20,044,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Abundance Wealth Counselors acquired a new position in Apple during the 4th quarter valued at about $712,000. Semmax Financial Advisors Inc. acquired a new position in Apple during the 4th quarter valued at about $50,000. Cohen & Steers Inc. boosted its stake in Apple by 7.0% during the 4th quarter. Cohen & Steers Inc. now owns 59,514 shares of the iPhone maker’s stock valued at $9,388,000 after purchasing an additional 3,908 shares during the last quarter. LMR Partners LLP acquired a new position in Apple during the 4th quarter valued at about $13,048,000. Finally, Drexel Morgan & Co. boosted its stake in Apple by 1.0% during the 4th quarter. Drexel Morgan & Co. now owns 18,999 shares of the iPhone maker’s stock valued at $2,997,000 after purchasing an additional 179 shares during the last quarter. 58.63% of the stock is owned by institutional investors and hedge funds.

Apple stock opened at $233.01 on Friday. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $229.93. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. The business’s 50 day simple moving average is $216.29 and its 200 day simple moving average is $202.42. The company has a market cap of $1,039.82 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.97 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. Apple’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 11.68 earnings per share for the current fiscal year.

In other Apple news, Director Arthur D. Levinson sold 17,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the sale, the director now owns 1,150,783 shares of the company’s stock, valued at approximately $232,101,423.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,376 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 433,749 shares of company stock worth $91,773,322. 0.05% of the stock is owned by company insiders.

A number of research firms have issued reports on AAPL. Nomura lifted their price target on Apple from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Monday. Goldman Sachs Group set a $165.00 price target on Apple and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. DA Davidson lifted their price target on Apple to $270.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. UBS Group set a $235.00 price target on Apple and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Jefferies Financial Group upgraded Apple from a “hold” rating to a “buy” rating and lifted their price target for the company from $210.00 to $260.00 in a research note on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $222.68.

About Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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