Apple Inc. (NASDAQ:AAPL) Stake Trimmed by Community Trust & Investment Co.

Community Trust & Investment Co. trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,968 shares of the iPhone maker’s stock after selling 5,653 shares during the quarter. Apple makes up 3.6% of Community Trust & Investment Co.’s holdings, making the stock its 6th biggest position. Community Trust & Investment Co.’s holdings in Apple were worth $30,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Nuveen Asset Management LLC boosted its stake in Apple by 2,874.9% in the second quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock valued at $7,108,275,000 after acquiring an additional 34,707,634 shares during the last quarter. Thoroughbred Financial Services LLC boosted its stake in Apple by 19,949.3% in the second quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock valued at $1,005,513,000 after acquiring an additional 10,004,976 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Apple in the second quarter valued at about $809,074,000. Renaissance Technologies LLC purchased a new position in Apple in the second quarter valued at about $459,677,000. Finally, Morgan Stanley boosted its stake in Apple by 5.8% in the second quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock valued at $7,176,836,000 after acquiring an additional 1,996,126 shares during the last quarter. Hedge funds and other institutional investors own 58.63% of the company’s stock.

Several research firms have recently issued reports on AAPL. Jefferies Financial Group raised shares of Apple from a “hold” rating to a “buy” rating and boosted their price target for the company from $210.00 to $260.00 in a research report on Tuesday, September 24th. Longbow Research raised shares of Apple from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Thursday. HSBC set a $190.00 price target on shares of Apple and gave the company a “sell” rating in a research report on Thursday, September 26th. Raymond James raised shares of Apple from a “market perform” rating to an “outperform” rating and set a $250.00 price target on the stock in a research report on Thursday, July 18th. Finally, BidaskClub raised shares of Apple from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 27th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $223.22.

In other news, insider Chris Kondo sold 4,376 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 61,659 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $228.38, for a total transaction of $14,081,682.42. Following the completion of the transaction, the chief financial officer now directly owns 85,507 shares in the company, valued at approximately $19,528,088.66. The disclosure for this sale can be found here. Insiders sold a total of 433,749 shares of company stock worth $91,773,322 in the last three months. Insiders own 0.05% of the company’s stock.

Apple stock traded up $4.56 during midday trading on Friday, reaching $234.65. 11,541,589 shares of the stock were exchanged, compared to its average volume of 30,148,068. The company’s fifty day moving average is $216.29 and its 200-day moving average is $202.42. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50. The firm has a market cap of $1,058.26 billion, a PE ratio of 19.70, a PEG ratio of 1.97 and a beta of 1.24. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $229.93.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.08. The business had revenue of $53.81 billion for the quarter, compared to analyst estimates of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. Apple’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 11.68 earnings per share for the current fiscal year.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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