Bridges Investment Management Inc. Has $160.84 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Bridges Investment Management Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,163,821 shares of the iPhone maker’s stock after selling 46,012 shares during the quarter. Apple accounts for 6.2% of Bridges Investment Management Inc.’s portfolio, making the stock its 2nd biggest position. Bridges Investment Management Inc.’s holdings in Apple were worth $160,839,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MKT Advisors LLC grew its stake in shares of Apple by 0.5% in the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after acquiring an additional 60 shares during the period. Your Advocates Ltd. LLP grew its stake in shares of Apple by 1.0% in the second quarter. Your Advocates Ltd. LLP now owns 6,339 shares of the iPhone maker’s stock worth $867,000 after acquiring an additional 65 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Apple by 6.7% in the second quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock worth $143,000 after acquiring an additional 66 shares during the period. Aufman Associates Inc grew its stake in shares of Apple by 0.9% in the second quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock worth $1,049,000 after acquiring an additional 66 shares during the period. Finally, Lake Point Wealth Management grew its stake in shares of Apple by 1.7% in the second quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock worth $550,000 after acquiring an additional 67 shares during the period. Institutional investors own 57.60% of the company’s stock.

Apple Trading Up 0.9 %

Shares of AAPL opened at $135.94 on Wednesday. The company’s fifty day moving average is $139.18 and its 200 day moving average is $148.28. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The stock has a market capitalization of $2.16 trillion, a PE ratio of 22.25, a P/E/G ratio of 1.74 and a beta of 1.24. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. During the same quarter in the previous year, the business posted $1.24 earnings per share. Apple’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio (DPR) is 15.06%.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $170.00 price target on shares of Apple in a research note on Tuesday, November 8th. JPMorgan Chase & Co. set a $190.00 target price on shares of Apple in a research report on Monday, January 2nd. Sanford C. Bernstein cut their target price on shares of Apple from $170.00 to $125.00 in a research report on Monday, January 9th. Citigroup restated a “buy” rating and set a $175.00 target price on shares of Apple in a research report on Tuesday, November 8th. Finally, Fundamental Research boosted their target price on shares of Apple to $168.50 and gave the company a “buy” rating in a research report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $171.22.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

About Apple

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, 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, and HomePod.