First Midwest Bank Trust Division increased its position in Apple Inc. (NASDAQ:AAPL) by 5.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 135,765 shares of the iPhone maker’s stock after acquiring an additional 7,230 shares during the quarter. Apple accounts for 2.6% of First Midwest Bank Trust Division’s holdings, making the stock its 2nd largest position. First Midwest Bank Trust Division’s holdings in Apple were worth $20,924,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in Apple during the 2nd quarter valued at approximately $400,000. Blue Sky Asset Management LLC acquired a new stake in Apple during the 2nd quarter valued at approximately $108,000. FNY Managed Accounts LLC increased its position in Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares during the period. Hefty Wealth Partners increased its position in Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares during the period. Finally, Armbruster Capital Management Inc. increased its position in Apple by 9.4% during the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after purchasing an additional 78 shares during the period. 60.17% of the stock is owned by institutional investors.
Apple Inc. (NASDAQ AAPL) opened at $174.33 on Wednesday. Apple Inc. has a twelve month low of $118.21 and a twelve month high of $177.20. 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 stock has a market capitalization of $895,060.00, a price-to-earnings ratio of 18.97, a P/E/G ratio of 1.43 and a beta of 1.23.
In other Apple news, insider Eduardo H. Cue sold 65,361 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total transaction of $11,215,947.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Johny Srouji sold 10,368 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $174.68, for a total value of $1,811,082.24. Following the transaction, the insider now owns 81,560 shares in the company, valued at $14,246,900.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,412 shares of company stock worth $22,115,155. Company insiders own 0.06% of the company’s stock.
A number of research firms have weighed in on AAPL. Nomura set a $175.00 target price on shares of Apple and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Instinet downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $175.00 target price for the company. in a research report on Tuesday, December 19th. Loop Capital reissued a “buy” rating and set a $200.00 target price on shares of Apple in a research report on Friday, December 22nd. UBS Group set a $190.00 target price on shares of Apple and gave the company a “buy” rating in a research report on Monday, November 27th. Finally, Vetr cut Apple from a “buy” rating to a “hold” rating and set a $178.70 price target on the stock. in a report on Thursday, November 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. Apple presently has an average rating of “Buy” and a consensus price target of $198.70.
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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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