Apple Inc. (AAPL) is Swedbank’s Largest Position
Swedbank lowered its position in Apple Inc. (NASDAQ:AAPL) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,520,418 shares of the iPhone maker’s stock after selling 298,013 shares during the period. Apple makes up about 8.2% of Swedbank’s portfolio, making the stock its largest position. Swedbank owned approximately 0.16% of Apple worth $1,227,111,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its position in Apple by 2.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 17,637,648 shares of the iPhone maker’s stock worth $2,533,825,000 after purchasing an additional 471,057 shares during the last quarter. Fisher Asset Management LLC grew its position in Apple by 1.2% during the 1st quarter. Fisher Asset Management LLC now owns 11,638,395 shares of the iPhone maker’s stock worth $1,671,972,000 after purchasing an additional 140,368 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Apple by 23.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock worth $1,334,527,000 after purchasing an additional 1,749,797 shares during the last quarter. Sanders Capital LLC grew its position in Apple by 1.2% during the 1st quarter. Sanders Capital LLC now owns 8,007,685 shares of the iPhone maker’s stock worth $1,177,522,000 after purchasing an additional 91,860 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in Apple by 1.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,815,812 shares of the iPhone maker’s stock worth $979,160,000 after purchasing an additional 82,453 shares during the last quarter. 60.36% of the stock is currently owned by hedge funds and other institutional investors.
Apple Inc. (NASDAQ AAPL) traded down 0.23% during trading on Friday, hitting $155.04. The company had a trading volume of 9,005,333 shares. The stock has a 50-day moving average of $158.07 and a 200 day moving average of $150.93. Apple Inc. has a one year low of $104.08 and a one year high of $164.94. The company has a market capitalization of $800.82 billion, a price-to-earnings ratio of 17.60 and a beta of 1.27.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post $9.01 EPS for the current fiscal year.
In other Apple news, insider Philip W. Schiller sold 56,808 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total transaction of $8,788,197.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold 541,177 shares of company stock valued at $85,864,804 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.
Several research firms have weighed in on AAPL. Vetr downgraded shares of Apple from a “strong-buy” rating to a “buy” rating and set a $173.47 target price on the stock. in a research report on Friday. Robert W. Baird reissued a “buy” rating and set a $175.00 target price (up previously from $172.00) on shares of Apple in a research report on Wednesday. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 target price on shares of Apple in a research report on Tuesday. Deutsche Bank AG reissued a “hold” rating and set a $140.00 target price on shares of Apple in a research report on Thursday, September 28th. Finally, Mizuho reissued a “neutral” rating and set a $150.00 target price on shares of Apple in a research report on Wednesday, September 27th. Nine research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $189.61.
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Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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