Financial Management Professionals Inc. Sells 810 Shares of Apple Inc. (NASDAQ:AAPL)

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Financial Management Professionals Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 14.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,688 shares of the iPhone maker’s stock after selling 810 shares during the quarter. Apple comprises approximately 0.4% of Financial Management Professionals Inc.’s investment portfolio, making the stock its 27th biggest holding. Financial Management Professionals Inc.’s holdings in Apple were worth $1,050,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Monument Capital Management lifted its stake in Apple by 2.2% in the second quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock valued at $491,000 after buying an additional 53 shares in the last quarter. Trinity Legacy Partners LLC lifted its stake in Apple by 66.8% in the second quarter. Trinity Legacy Partners LLC now owns 18,789 shares of the iPhone maker’s stock valued at $3,776,000 after buying an additional 7,523 shares in the last quarter. Pictet North America Advisors SA lifted its stake in Apple by 3.3% in the second quarter. Pictet North America Advisors SA now owns 131,021 shares of the iPhone maker’s stock valued at $25,932,000 after buying an additional 4,170 shares in the last quarter. Capital Bank & Trust Co lifted its stake in Apple by 0.4% in the second quarter. Capital Bank & Trust Co now owns 621,074 shares of the iPhone maker’s stock valued at $122,994,000 after buying an additional 2,330 shares in the last quarter. Finally, Rockland Trust Co. raised its holdings in shares of Apple by 4.8% in the second quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock valued at $4,081,000 after purchasing an additional 948 shares during the last quarter. 58.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of AAPL opened at $236.21 on Friday. The company has a market cap of $1,025.99 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.00 and a beta of 1.24. Apple Inc. has a 1-year low of $142.00 and a 1-year high of $237.64. The company’s fifty day simple moving average is $216.75 and its 200 day simple moving average is $202.65. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88.

Apple (NASDAQ:AAPL) last issued 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 the consensus estimate of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.34 earnings per share. As a group, research analysts forecast that Apple Inc. will post 11.68 earnings per share for the current year.

In other Apple news, CFO Luca Maestri sold 61,659 shares of Apple stock in a transaction on Monday, October 7th. The shares were 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 of the company’s stock, valued at $19,528,088.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,376 shares of Apple stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 433,749 shares of company stock valued at $91,773,322. Company insiders own 0.05% of the company’s stock.

A number of analysts have recently issued reports on AAPL shares. Citigroup lifted their price objective on shares of Apple from $205.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. HSBC set a $190.00 price objective on shares of Apple and gave the company a “sell” rating in a report on Thursday, September 26th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $265.00 price objective (up from $245.00) on shares of Apple in a report on Wednesday, July 31st. Goldman Sachs Group set a $165.00 price objective on shares of Apple and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley set a $247.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $223.22.

Apple Profile

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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