Hancock Whitney Corp cut its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 923,511 shares of the iPhone maker’s stock after selling 31,853 shares during the quarter. Apple comprises approximately 5.5% of Hancock Whitney Corp’s holdings, making the stock its largest position. Hancock Whitney Corp’s holdings in Apple were worth $127,630,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Ramsey Quantitative Systems bought a new stake in shares of Apple in the 2nd quarter valued at about $55,000. Morgan Dempsey Capital Management LLC bought a new stake in shares of Apple in the 3rd quarter valued at about $55,000. HBC Financial Services PLLC increased its stake in shares of Apple by 21.7% in the 1st 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 during the last quarter. Newfound Research LLC bought a new stake in shares of Apple in the 3rd quarter valued at about $67,000. Finally, Emerson Wealth LLC increased its stake in shares of Apple by 27.0% in the 2nd quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 110 shares during the last quarter. 57.60% of the stock is currently owned by institutional investors and hedge funds.
Apple Trading Up 1.4 %
Shares of Apple stock opened at $145.93 on Friday. The business has a fifty day simple moving average of $138.04 and a two-hundred day simple moving average of $148.04. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61. The company has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 1.86 and a beta of 1.24. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter last year, the firm posted $1.24 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.18 EPS for the current year.
Analyst Ratings Changes
A number of analysts have recently commented on AAPL shares. Fundamental Research upped their price target on Apple to $168.50 and gave the company a “buy” rating in a research note on Tuesday, November 8th. Robert W. Baird lowered their price target on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, October 28th. Citigroup reissued a “buy” rating and set a $175.00 target price on shares of Apple in a research note on Tuesday, November 8th. Barclays lowered their target price on Apple from $144.00 to $133.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Apple from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, January 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $163.53.
Insider Buying and Selling at Apple
In other Apple news, insider Chris Kondo sold 20,200 shares of the firm’s 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 completion of the sale, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.
About Apple
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
See Also
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