KBC Group NV Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

KBC Group NV lowered its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 10.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,640,733 shares of the iPhone maker’s stock after selling 656,740 shares during the period. Apple comprises about 3.9% of KBC Group NV’s portfolio, making the stock its 2nd biggest position. KBC Group NV’s holdings in Apple were worth $771,201,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AMF Tjanstepension AB bought a new stake in shares of Apple in the 2nd quarter valued at about $95,649,000. RPG Investment Advisory LLC grew its position in shares of Apple by 0.6% in the 2nd quarter. RPG Investment Advisory LLC now owns 132,228 shares of the iPhone maker’s stock valued at $18,078,000 after buying an additional 748 shares during the last quarter. Northwest Wealth Management LLC grew its position in shares of Apple by 4.5% in the 2nd quarter. Northwest Wealth Management LLC now owns 40,906 shares of the iPhone maker’s stock valued at $5,593,000 after buying an additional 1,747 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Apple by 2.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,435,007 shares of the iPhone maker’s stock valued at $6,758,754,000 after buying an additional 1,003,177 shares during the last quarter. Finally, Tri Star Advisors Inc. grew its position in shares of Apple by 1.1% in the 2nd quarter. Tri Star Advisors Inc. now owns 7,634 shares of the iPhone maker’s stock valued at $1,061,000 after buying an additional 83 shares during the last quarter. Institutional investors own 57.72% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of analyst reports. Sanford C. Bernstein set a $170.00 price target on Apple in a research report on Monday, September 12th. Bank Of America (Bofa) downgraded Apple from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $189.00 to $160.00 in a research note on Friday, September 30th. Monness Crespi & Hardt assumed coverage on Apple in a research note on Thursday, September 8th. They issued a “buy” rating and a $174.00 price objective on the stock. Itau BBA Securities assumed coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $139.00 price objective on shares of Apple in a research note on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.25.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Apple news, SVP Deirdre O’brien sold 176,299 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,087 shares of company stock valued at $47,252,854. 0.06% of the stock is owned by insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $149.35 on Thursday. The company’s 50-day moving average is $152.39 and its 200 day moving average is $151.92. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market capitalization of $2.40 trillion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 1.81 and a beta of 1.25. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 EPS. On average, equities research analysts forecast that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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