Wormser Freres Gestion Sells 25,403 Shares of Apple Inc. $AAPL

Wormser Freres Gestion decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 98.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 400 shares of the iPhone maker’s stock after selling 25,403 shares during the period. Wormser Freres Gestion’s holdings in Apple were worth $82,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Salus Financial Advisors LLC raised its stake in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares during the last quarter. Red Tortoise LLC boosted its holdings in shares of Apple by 0.9% in the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after buying an additional 49 shares during the last quarter. SigFig Wealth Management LLC boosted its stake in Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after acquiring an additional 50 shares during the last quarter. Sharpepoint LLC lifted its stake in Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after purchasing an additional 51 shares during the last quarter. Finally, Redwood Financial Network Corp grew its stake in shares of Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock worth $2,184,000 after acquiring an additional 53 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Activity

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 259,121 shares of company stock valued at $65,358,981. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AAPL. DA Davidson reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 11th. Raymond James Financial restated an “outperform” rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Evercore ISI restated an “outperform” rating on shares of Apple in a research report on Monday, October 20th. Wedbush reaffirmed an “outperform” rating on shares of Apple in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company increased their price objective on Apple from $245.00 to $290.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.49.

Apple Stock Up 0.3%

Shares of Apple stock opened at $269.70 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $271.41. The company’s 50 day moving average price is $246.55 and its 200-day moving average price is $221.19. The stock has a market capitalization of $4.00 trillion, a price-to-earnings ratio of 40.93, a P/E/G ratio of 2.61 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter in the prior year, the company posted $1.40 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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.