New Mexico Educational Retirement Board lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 19.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 262,716 shares of the iPhone maker’s stock after selling 61,950 shares during the quarter. Apple comprises 4.0% of New Mexico Educational Retirement Board’s investment portfolio, making the stock its 2nd largest position. New Mexico Educational Retirement Board’s holdings in Apple were worth $66,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AAPL. Pathstone Family Office LLC increased its holdings in shares of Apple by 3.6% in the 1st quarter. Pathstone Family Office LLC now owns 66,471 shares of the iPhone maker’s stock worth $16,904,000 after buying an additional 2,332 shares during the last quarter. Core Alternative Capital lifted its holdings in shares of Apple by 143.8% during the 1st quarter. Core Alternative Capital now owns 24,376 shares of the iPhone maker’s stock worth $6,199,000 after acquiring an additional 14,376 shares during the last quarter. Hayden Royal LLC grew its position in Apple by 7.2% in the first quarter. Hayden Royal LLC now owns 20,706 shares of the iPhone maker’s stock worth $5,265,000 after acquiring an additional 1,391 shares in the last quarter. Telemus Capital LLC increased its stake in Apple by 19.9% in the first quarter. Telemus Capital LLC now owns 119,826 shares of the iPhone maker’s stock valued at $38,098,000 after acquiring an additional 19,876 shares during the last quarter. Finally, Great Lakes Retirement Inc. raised its position in Apple by 0.3% during the first quarter. Great Lakes Retirement Inc. now owns 19,902 shares of the iPhone maker’s stock valued at $5,100,000 after purchasing an additional 57 shares in the last quarter. 62.04% of the stock is owned by institutional investors.

Shares of NASDAQ:AAPL opened at $364.11 on Friday. Apple Inc. has a 52-week low of $192.58 and a 52-week high of $372.38. The firm has a market capitalization of $1,578.17 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.69 and a beta of 1.18. The stock has a 50 day moving average price of $335.25 and a 200-day moving average price of $301.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.46 and a current ratio of 1.50.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.29. The company had revenue of $58.31 billion for the quarter, compared to analysts’ expectations of $54.64 billion. Apple had a return on equity of 64.49% and a net margin of 21.35%. 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 firm earned $2.46 earnings per share. On average, equities analysts forecast that Apple Inc. will post 12.32 EPS for the current fiscal year.

In related news, CFO Luca Maestri sold 41,062 shares of Apple stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $264.44, for a total transaction of $10,858,435.28. Following the completion of the transaction, the chief financial officer now directly owns 65,427 shares of the company’s stock, valued at approximately $17,301,515.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,491 shares of Apple 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 transaction, the insider now directly owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,690 shares of company stock worth $14,836,116. Company insiders own 0.05% of the company’s stock.

AAPL has been the topic of several recent research reports. UBS Group increased their price objective on Apple from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. DZ Bank reiterated a “buy” rating on shares of Apple in a research report on Wednesday, June 3rd. Credit Suisse Group set a $295.00 price objective on shares of Apple and gave the stock a “neutral” rating in a report on Tuesday, June 23rd. Nomura Securities upped their price objective on shares of Apple from $225.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Cascend Securities decreased their target price on shares of Apple from $350.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $326.64.

About Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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