Mountain Capital Investment Advisors Inc grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,977 shares of the iPhone maker’s stock after buying an additional 160 shares during the quarter. Apple accounts for 1.2% of Mountain Capital Investment Advisors Inc’s investment portfolio, making the stock its 16th largest holding. Mountain Capital Investment Advisors Inc’s holdings in Apple were worth $2,600,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in AAPL. Advisor Group Holdings Inc. purchased a new position in shares of Apple in the 1st quarter valued at about $536,884,000. Geode Capital Management LLC increased its holdings in shares of Apple by 2.7% in the 1st quarter. Geode Capital Management LLC now owns 64,178,586 shares of the iPhone maker’s stock valued at $16,290,282,000 after purchasing an additional 1,696,496 shares in the last quarter. Norges Bank purchased a new position in shares of Apple in the 4th quarter valued at about $13,759,345,000. Wealth Quarterback LLC purchased a new position in shares of Apple in the 4th quarter valued at about $3,783,310,000. Finally, Wellington Management Group LLP increased its holdings in shares of Apple by 18.2% in the 1st quarter. Wellington Management Group LLP now owns 26,941,525 shares of the iPhone maker’s stock valued at $6,850,960,000 after purchasing an additional 4,148,565 shares in the last quarter. Institutional investors own 62.04% of the company’s stock.
A number of brokerages recently commented on AAPL. Jefferies Financial Group increased their price objective on shares of Apple from $370.00 to $405.00 and gave the company a “buy” rating in a research note on Friday, June 19th. Loop Capital increased their price objective on shares of Apple from $280.00 to $330.00 and gave the company a “hold” rating in a research note on Tuesday, June 23rd. Canaccord Genuity increased their price objective on shares of Apple from $300.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Nomura Instinet increased their price objective on shares of Apple from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Morgan Stanley increased their price objective on shares of Apple from $326.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Apple presently has a consensus rating of “Buy” and a consensus target price of $329.38.
Shares of AAPL traded up $7.12 during mid-day trading on Wednesday, reaching $379.81. 1,388,206 shares of the stock traded hands, compared to its average volume of 37,403,880. The firm has a market cap of $1,641.26 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 2.76 and a beta of 1.18. The stock has a fifty day simple moving average of $339.92 and a 200 day simple moving average of $302.89. Apple Inc. has a 12-month low of $192.58 and a 12-month high of $372.38. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.14.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.29. The company had revenue of $58.31 billion for the quarter, compared to analyst estimates of $54.64 billion. Apple had a net margin of 21.35% and a return on equity of 64.49%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 earnings per share. On average, equities research analysts expect that Apple Inc. will post 12.32 earnings per share for the current fiscal year.
In other news, SVP Deirdre O’brien sold 9,137 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $285.12, for a total transaction of $2,605,141.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,491 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the sale, the insider now directly owns 7,370 shares of the company’s stock, valued at approximately $2,252,419.40. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
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.
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.