Jensen Investment Management Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,251,319 shares of the iPhone maker’s stock after selling 42,431 shares during the period. Apple comprises about 3.1% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 16th largest position. Jensen Investment Management Inc.’s holdings in Apple were worth $231,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. B. Riley Financial Inc. grew its holdings in Apple by 27.6% during the 1st quarter. B. Riley Financial Inc. now owns 17,412 shares of the iPhone maker’s stock worth $2,921,000 after acquiring an additional 3,770 shares in the last quarter. Roof Advisory Group Inc. grew its holdings in Apple by 44.0% during the 1st quarter. Roof Advisory Group Inc. now owns 42,322 shares of the iPhone maker’s stock worth $7,101,000 after acquiring an additional 12,930 shares in the last quarter. Mizuho Securities USA LLC bought a new position in Apple during the 1st quarter worth about $1,477,000. Viridian Ria LLC bought a new position in Apple during the 1st quarter worth about $525,000. Finally, Turim 21 Investimentos Ltda. lifted its position in shares of Apple by 5.1% during the first quarter. Turim 21 Investimentos Ltda. now owns 59,421 shares of the iPhone maker’s stock valued at $9,970,000 after buying an additional 2,906 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

Several analysts have commented on AAPL shares. New Street Research lowered shares of Apple from a “neutral” rating to a “sell” rating in a research report on Monday, August 20th. Bank of America increased their price target on shares of Apple from $250.00 to $256.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Morgan Stanley increased their price target on shares of Apple from $245.00 to $247.00 and gave the company an “overweight” rating in a research report on Thursday, September 13th. Macquarie set a $214.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, August 15th. Finally, Goldman Sachs Group reissued a “neutral” rating and set a $240.00 price target on shares of Apple in a research report on Thursday, September 13th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirty have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $221.63.

In other Apple news, insider Luca Maestri sold 100,245 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $228.56, for a total transaction of $22,911,997.20. Following the completion of the transaction, the insider now directly owns 91,665 shares of the company’s stock, valued at approximately $20,950,952.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Angela J. Ahrendts sold 14,194 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the transaction, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at $24,058,442.48. The disclosure for this sale can be found here. Insiders have sold a total of 564,185 shares of company stock valued at $124,444,213 over the last three months. 0.06% of the stock is currently owned by insiders.

AAPL opened at $222.11 on Friday. Apple Inc. has a 12-month low of $150.24 and a 12-month high of $233.47. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. The company has a market cap of $1,109.54 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 1.99 and a beta of 1.36.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The company had revenue of $53.27 billion during the quarter, compared to analyst estimates of $52.43 billion. During the same period last year, the firm posted $1.67 EPS. Apple’s revenue for the quarter was up 17.3% compared to the same quarter last year. Analysts expect that Apple Inc. will post 11.76 EPS for the current year.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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