Guggenheim Capital LLC Sells 241,886 Shares of Apple Inc. (NASDAQ:AAPL)
Guggenheim Capital LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 23.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 800,929 shares of the iPhone maker’s stock after selling 241,886 shares during the period. Apple accounts for about 2.1% of Guggenheim Capital LLC’s portfolio, making the stock its 4th largest holding. Guggenheim Capital LLC’s holdings in Apple were worth $203,668,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Advisor Group Holdings Inc. purchased a new stake in Apple in the first quarter valued at approximately $536,884,000. Norges Bank purchased a new stake in Apple in the fourth quarter valued at approximately $13,759,345,000. Wealth Quarterback LLC purchased a new stake in Apple in the fourth quarter valued at approximately $3,783,310,000. Wellington Management Group LLP raised its position in Apple by 18.2% in the first quarter. Wellington Management Group LLP now owns 26,941,525 shares of the iPhone maker’s stock valued at $6,850,960,000 after purchasing an additional 4,148,565 shares during the period. Finally, Swiss National Bank raised its position in Apple by 21.0% in the first quarter. Swiss National Bank now owns 17,300,399 shares of the iPhone maker’s stock valued at $4,399,318,000 after purchasing an additional 3,000,800 shares during the period. Hedge funds and other institutional investors own 62.04% of the company’s stock.
In related news, insider Chris Kondo sold 4,491 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the completion of the transaction, the insider now directly owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luca Maestri sold 41,062 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $264.44, for a total transaction of $10,858,435.28. Following the transaction, the chief financial officer now directly owns 65,427 shares of the company’s stock, valued at $17,301,515.88. The disclosure for this sale can be found here. Insiders have sold 54,690 shares of company stock valued at $14,836,116 over the last three months. 0.05% of the stock is currently owned by corporate insiders.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.29. The firm had revenue of $58.31 billion during the quarter, compared to analysts’ expectations of $54.64 billion. Apple had a net margin of 21.35% and a return on equity of 64.49%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 earnings per share. Equities research analysts forecast that Apple Inc. will post 12.32 EPS for the current year.
AAPL has been the topic of a number of research analyst reports. Monness Crespi & Hardt started coverage on Apple in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $370.00 target price on the stock. HSBC raised Apple from a “reduce” rating to a “hold” rating and cut their price objective for the stock from $385.00 to $295.00 in a research report on Wednesday, June 10th. DZ Bank reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, June 3rd. Cowen upped their price objective on Apple from $335.00 to $400.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Finally, Credit Suisse Group set a $295.00 price objective on Apple and gave the stock a “neutral” rating in a research report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $326.64.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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