Bourgeon Capital Management LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,317 shares of the iPhone maker’s stock after buying an additional 406 shares during the quarter. Apple comprises approximately 2.3% of Bourgeon Capital Management LLC’s holdings, making the stock its 19th largest position. Bourgeon Capital Management LLC’s holdings in Apple were worth $8,336,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in AAPL. AJ Wealth Strategies LLC grew its holdings in shares of Apple by 0.7% in the third quarter. AJ Wealth Strategies LLC now owns 87,186 shares of the iPhone maker’s stock valued at $12,049,000 after purchasing an additional 583 shares in the last quarter. TCW Group Inc. grew its holdings in shares of Apple by 6.8% in the third quarter. TCW Group Inc. now owns 313,599 shares of the iPhone maker’s stock valued at $43,339,000 after purchasing an additional 20,014 shares in the last quarter. Affiance Financial LLC grew its holdings in shares of Apple by 1.4% in the third quarter. Affiance Financial LLC now owns 55,219 shares of the iPhone maker’s stock valued at $7,631,000 after purchasing an additional 754 shares in the last quarter. Simmons Bank grew its holdings in shares of Apple by 1.6% in the third quarter. Simmons Bank now owns 120,663 shares of the iPhone maker’s stock valued at $16,675,000 after purchasing an additional 1,885 shares in the last quarter. Finally, Asset Dedication LLC grew its holdings in shares of Apple by 4.2% in the third quarter. Asset Dedication LLC now owns 101,911 shares of the iPhone maker’s stock valued at $14,099,000 after purchasing an additional 4,138 shares in the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Apple
In other Apple news, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.
Apple Stock Performance
AAPL stock opened at $145.43 on Thursday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The business has a 50-day moving average price of $137.82 and a 200 day moving average price of $148.00. The company has a market capitalization of $2.30 trillion, a P/E ratio of 23.80, a PEG ratio of 1.85 and a beta of 1.24. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61.
Wall Street Analysts Forecast Growth
AAPL has been the subject of a number of recent research reports. Wedbush cut their target price on shares of Apple from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, January 4th. National Bank Financial lowered their price target on Apple to $54.00 and set an “outperform” rating for the company in a research report on Friday, January 20th. 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 report on Friday, October 28th. Rosenblatt Securities lowered their price target on Apple from $189.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, January 13th. Finally, Oppenheimer lowered their price target on Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, December 12th. Two equities 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. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $163.53.
Apple Company Profile
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.
Further Reading
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