Apple Inc. (NASDAQ:AAPL) is Progressive Investment Management Corp’s 2nd Largest Position

Progressive Investment Management Corp lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,896 shares of the iPhone maker’s stock after selling 1,863 shares during the quarter. Apple makes up 9.6% of Progressive Investment Management Corp’s investment portfolio, making the stock its 2nd largest holding. Progressive Investment Management Corp’s holdings in Apple were worth $37,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rooted Wealth Advisors Inc. raised its position in Apple by 14.9% during the second quarter. Rooted Wealth Advisors Inc. now owns 13,702 shares of the iPhone maker’s stock valued at $3,072,000 after buying an additional 1,776 shares during the period. New Millennium Group LLC grew its stake in Apple by 35.6% during the 2nd quarter. New Millennium Group LLC now owns 51,995 shares of the iPhone maker’s stock valued at $10,951,000 after acquiring an additional 13,638 shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in shares of Apple by 2.6% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 21,069 shares of the iPhone maker’s stock valued at $4,438,000 after purchasing an additional 524 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Apple by 3.3% in the second quarter. Proficio Capital Partners LLC now owns 106,350 shares of the iPhone maker’s stock worth $22,400,000 after purchasing an additional 3,386 shares in the last quarter. Finally, IMA Advisory Services Inc. boosted its holdings in shares of Apple by 2.3% during the second quarter. IMA Advisory Services Inc. now owns 39,261 shares of the iPhone maker’s stock worth $8,269,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Tuesday, January 21st. UBS Group restated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Jefferies Financial Group lowered Apple from a “hold” rating to an “underperform” rating and reduced their price target for the company from $211.84 to $200.75 in a report on Tuesday, January 21st. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective on the stock. in a report on Tuesday, January 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $262.00 target price on shares of Apple in a research note on Monday. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $238.05.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.5 %

AAPL opened at $239.36 on Thursday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The firm has a market cap of $3.60 trillion, a price-to-earnings ratio of 39.37, a PEG ratio of 2.19 and a beta of 1.20. The firm’s 50-day simple moving average is $241.17 and its 200-day simple moving average is $230.75. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.46 earnings per share. Equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.