WestEnd Advisors LLC Has $68,954,000 Stake in Apple Inc. (AAPL)

WestEnd Advisors LLC Has $68,954,000 Stake in Apple Inc. (AAPL)

WestEnd Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 36.4% during the third quarter, Holdings Channel reports. The fund owned 609,940 shares of the iPhone maker’s stock after selling 349,164 shares during the period. Apple comprises approximately 4.9% of WestEnd Advisors LLC’s holdings, making the stock its 6th largest position. WestEnd Advisors LLC’s holdings in Apple were worth $68,954,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. increased its position in Apple by 0.4% in the second quarter. Vanguard Group Inc. now owns 331,395,817 shares of the iPhone maker’s stock worth $31,681,440,000 after buying an additional 1,408,642 shares in the last quarter. BlackRock Group LTD increased its position in Apple by 1.6% in the second quarter. BlackRock Group LTD now owns 48,083,386 shares of the iPhone maker’s stock worth $4,596,772,000 after buying an additional 759,339 shares in the last quarter. Legal & General Group Plc increased its position in Apple by 2.6% in the second quarter. Legal & General Group Plc now owns 24,474,691 shares of the iPhone maker’s stock worth $2,339,700,000 after buying an additional 625,760 shares in the last quarter. Cohen & Steers Inc. increased its position in Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock worth $999,482,000 after buying an additional 22,303,795 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Apple by 20.2% in the second quarter. Franklin Resources Inc. now owns 17,027,764 shares of the iPhone maker’s stock worth $1,627,849,000 after buying an additional 2,857,040 shares in the last quarter. Institutional investors own 58.95% of the company’s stock.

Apple Inc. (NASDAQ:AAPL) opened at 121.95 on Friday. The company’s 50 day moving average price is $117.81 and its 200-day moving average price is $111.45. The company has a market cap of $650.28 billion, a P/E ratio of 14.68 and a beta of 1.30. Apple Inc. has a one year low of $89.47 and a one year high of $122.44.

AAPL has been the topic of a number of research analyst reports. Bank of America Corporation raised their target price on shares of Apple from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, January 19th. OTR Global upgraded shares of Apple to a “positive” rating in a research note on Wednesday, October 12th. Cowen and Company raised their target price on shares of Apple from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, October 21st. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $107.00 target price on shares of Apple in a research note on Wednesday, October 26th. Finally, Macquarie set a $132.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, October 19th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, forty have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $130.09.

In other Apple news, CFO Luca Maestri sold 16,950 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $110.03, for a total transaction of $1,865,008.50. Following the completion of the transaction, the chief financial officer now owns 12,055 shares in the company, valued at approximately $1,326,411.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $121.37, for a total value of $3,641,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 173,790 shares of company stock valued at $20,320,525 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Apple Company Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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