State Farm Mutual Automobile Insurance Co. Acquires 334,165 Shares of Apple Inc. (NASDAQ:AAPL)

State Farm Mutual Automobile Insurance Co. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,345,163 shares of the iPhone maker’s stock after purchasing an additional 334,165 shares during the period. Apple comprises approximately 2.5% of State Farm Mutual Automobile Insurance Co.’s holdings, making the stock its 13th largest holding. State Farm Mutual Automobile Insurance Co.’s holdings in Apple were worth $2,047,514,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Centaurus Financial Inc. increased its holdings in Apple by 17.9% during the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after purchasing an additional 1,262 shares during the period. Semmax Financial Advisors Inc. bought a new position in Apple in the 4th quarter valued at approximately $50,000. Avondale Wealth Management lifted its position in Apple by 25.4% in the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after acquiring an additional 64 shares in the last quarter. NuWave Investment Management LLC lifted its holdings in shares of Apple by 2,245.0% during the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after buying an additional 449 shares during the period. Finally, Horan Securities Inc. lifted its holdings in shares of Apple by 64.2% during the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after buying an additional 221 shares during the period. 58.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:AAPL traded down $0.64 during trading hours on Thursday, reaching $222.13. The stock had a trading volume of 5,497,552 shares, compared to its average volume of 25,341,180. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $233.47. The firm’s 50 day moving average is $208.51 and its 200-day moving average is $197.85. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50. The stock has a market capitalization of $993.77 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.82 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.08. Apple had a net margin of 21.50% and a return on equity of 52.13%. The company had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. During the same period in the prior year, the firm posted $2.34 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 11.68 EPS for the current year.

In other news, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The disclosure for this sale can be found here. Insiders sold a total of 304,536 shares of company stock worth $62,894,611 over the last ninety days. Insiders own 0.05% of the company’s stock.

AAPL has been the subject of several analyst reports. Rosenblatt Securities set a $150.00 price objective on Apple and gave the stock a “sell” rating in a research note on Friday, September 13th. Macquarie set a $210.00 price objective on shares of Apple and gave the company a “hold” rating in a report on Tuesday, September 10th. Evercore ISI assumed coverage on shares of Apple in a report on Thursday, June 6th. They set an “outperform” rating and a $205.00 price objective for the company. Piper Jaffray Companies set a $243.00 price target on shares of Apple and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Daiwa Capital Markets set a $223.00 price target on shares of Apple and gave the company a “buy” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $217.25.

About Apple

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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