Birch Hill Investment Advisors LLC Buys 9,687 Shares of Apple Inc. $AAPL

Birch Hill Investment Advisors LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 367,388 shares of the iPhone maker’s stock after purchasing an additional 9,687 shares during the quarter. Apple accounts for about 4.0% of Birch Hill Investment Advisors LLC’s portfolio, making the stock its 5th largest position. Birch Hill Investment Advisors LLC’s holdings in Apple were worth $93,548,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Financial Futures Ltd Liability Co. increased its stake in shares of Apple by 13.2% in the second quarter. Financial Futures Ltd Liability Co. now owns 3,552 shares of the iPhone maker’s stock valued at $729,000 after buying an additional 415 shares during the period. Monarch Capital Management Inc. lifted its stake in shares of Apple by 4.6% in the second quarter. Monarch Capital Management Inc. now owns 66,967 shares of the iPhone maker’s stock worth $13,740,000 after acquiring an additional 2,920 shares during the period. American National Bank & Trust boosted its holdings in Apple by 2.4% in the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after acquiring an additional 4,543 shares during the last quarter. Riverwater Partners LLC increased its position in Apple by 17.9% during the 2nd quarter. Riverwater Partners LLC now owns 5,404 shares of the iPhone maker’s stock valued at $1,109,000 after purchasing an additional 819 shares during the period. Finally, Highland Capital Management LLC raised its holdings in Apple by 2.2% during the 3rd quarter. Highland Capital Management LLC now owns 397,834 shares of the iPhone maker’s stock worth $101,301,000 after purchasing an additional 8,446 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Down 0.7%

Shares of NASDAQ:AAPL opened at $256.44 on Thursday. The firm has a market cap of $3.77 trillion, a P/E ratio of 34.33, a PEG ratio of 2.40 and a beta of 1.09. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $288.62. The business’s 50 day simple moving average is $268.78 and its two-hundred day simple moving average is $251.02. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 164.05% and a net margin of 26.92%.The company had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. Apple’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 3,752 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $271.23, for a total value of $1,017,654.96. Following the transaction, the insider directly owned 15,098 shares of the company’s stock, valued at approximately $4,095,030.54. This trade represents a 19.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AAPL. Stephens set a $315.00 price objective on shares of Apple in a research report on Monday. JPMorgan Chase & Co. increased their price target on Apple from $305.00 to $315.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley reissued an “overweight” rating and issued a $315.00 price objective (up from $305.00) on shares of Apple in a research note on Wednesday, December 17th. TD Cowen upped their target price on Apple from $275.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Argus set a $325.00 target price on Apple and gave the stock a “buy” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $282.80.

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About Apple

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Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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