Apple Inc. (NASDAQ:AAPL) is Bridges Investment Management Inc.’s 2nd Largest Position

Bridges Investment Management Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,163,821 shares of the iPhone maker’s stock after selling 46,012 shares during the period. Apple accounts for about 6.2% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. 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 have also modified their holdings of AAPL. Bluestem Financial Advisors LLC lifted its position in shares of Apple by 5,935.2% during the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 229,929 shares during the last quarter. HBC Financial Services PLLC increased its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares in the last quarter. Ramsey Quantitative Systems acquired a new position in shares of Apple during the second quarter valued at about $55,000. Morgan Dempsey Capital Management LLC acquired a new position in shares of Apple during the third quarter valued at about $55,000. Finally, Newfound Research LLC acquired a new position in shares of Apple during the third quarter valued at about $67,000. 57.60% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 0.9 %

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

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The company had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 EPS. Research analysts expect that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 annualized dividend and a dividend yield of 0.68%. Apple’s dividend payout ratio is presently 15.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. JPMorgan Chase & Co. set a $190.00 price target on shares of Apple in a report on Monday, January 2nd. Fundamental Research increased their price target on shares of Apple to $168.50 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Bank of America cut their price target on shares of Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a report on Monday, November 7th. Finally, Credit Suisse Group set a $184.00 price target on shares of Apple in a report on Wednesday, January 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.22.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction on 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 transaction, the insider now owns 31,505 shares in the company, valued at approximately $4,685,423.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction on 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 transaction, the insider now owns 31,505 shares in the company, valued at approximately $4,685,423.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction on Friday, October 28th. The stock was 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 owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

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.

Further Reading

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:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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