Stephen J. Garry & Associates LLC Lowers Stock Position in Apple Inc. $AAPL

Stephen J. Garry & Associates LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,933 shares of the iPhone maker’s stock after selling 72 shares during the period. Apple makes up 0.9% of Stephen J. Garry & Associates LLC’s portfolio, making the stock its 18th biggest position. Stephen J. Garry & Associates LLC’s holdings in Apple were worth $1,012,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ryan Investment Management Inc. purchased a new stake in shares of Apple during the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC grew its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the period. LSV Asset Management purchased a new stake in Apple during the fourth quarter worth approximately $65,000. Elite Financial Inc. purchased a new stake in Apple during the first quarter worth approximately $58,000. Finally, HFM Investment Advisors LLC purchased a new stake in Apple during the first quarter worth approximately $99,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 0.6%

NASDAQ:AAPL opened at $271.40 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business’s 50 day moving average is $247.48 and its two-hundred day moving average is $221.54. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $274.14. The company has a market cap of $4.03 trillion, a PE ratio of 41.18, a P/E/G ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same quarter last year, the business posted $1.64 EPS. Apple’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president directly 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, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer owned 8,765 shares in the company, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over 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 Analysts Forecast Growth

A number of analysts recently weighed in on AAPL shares. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Cowen reaffirmed a “buy” rating on shares of Apple in a research report on Monday. Tigress Financial upped their target price on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Morgan Stanley set a $298.00 target price on Apple and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Apple in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $255.49.

Apple Company Profile

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.