Mechanics Bank Trust Department Has $7.32 Million Stake in Apple Inc. (AAPL)
Mechanics Bank Trust Department decreased its position in Apple Inc. (NASDAQ:AAPL) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,506 shares of the iPhone maker’s stock after selling 3,459 shares during the period. Apple comprises 1.7% of Mechanics Bank Trust Department’s portfolio, making the stock its 15th largest holding. Mechanics Bank Trust Department’s holdings in Apple were worth $7,322,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Berkshire Hathaway Inc. lifted its stake in shares of Apple by 0.6% in the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after purchasing an additional 834,854 shares during the period. Capital Research Global Investors lifted its stake in shares of Apple by 15.0% in the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after purchasing an additional 3,845,363 shares during the period. Legal & General Group Plc lifted its stake in shares of Apple by 3.0% in the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after purchasing an additional 771,046 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Apple by 301.3% in the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after purchasing an additional 15,018,790 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Apple by 1.5% in the second quarter. Swiss National Bank now owns 19,169,416 shares of the iPhone maker’s stock valued at $2,760,779,000 after purchasing an additional 275,400 shares during the period. 60.19% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Johny Srouji sold 5,760 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total value of $1,004,544.00. Following the completion of the sale, the senior vice president now directly owns 81,560 shares in the company, valued at $14,224,064. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eduardo H. Cue sold 65,361 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total transaction of $11,215,947.60. The disclosure for this sale can be found here. In the last three months, insiders sold 128,412 shares of company stock valued at $22,115,155. Company insiders own 0.06% of the company’s stock.
Several brokerages recently commented on AAPL. Maxim Group raised their price objective on shares of Apple from $193.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Zacks Investment Research cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. UBS Group set a $190.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Friday, January 5th. Barclays set a $162.00 price objective on shares of Apple and gave the company a “neutral” rating in a research note on Wednesday, January 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $200.00 price objective on shares of Apple in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. Apple currently has an average rating of “Buy” and a consensus price target of $198.94.
Apple Inc. (AAPL) opened at $176.19 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23. The firm has a market cap of $904,610.00, a P/E ratio of 19.17, a PEG ratio of 1.45 and a beta of 1.23. Apple Inc. has a 52-week low of $118.22 and a 52-week high of $179.39.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. The business had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.50 earnings per share. analysts forecast that Apple Inc. will post 11.18 EPS for the current year.
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Apple Company Profile
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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