Suntrust Banks Inc. Has $231.11 Million Stake in Apple Inc. (NASDAQ:AAPL)

Suntrust Banks Inc. Has $231.11 Million Stake in Apple Inc. (NASDAQ:AAPL)

Suntrust Banks Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,377,442 shares of the iPhone maker’s stock after selling 8,623 shares during the period. Apple makes up approximately 1.2% of Suntrust Banks Inc.’s investment portfolio, making the stock its 10th largest position. Suntrust Banks Inc.’s holdings in Apple were worth $231,106,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Summit Trail Advisors LLC increased its holdings in Apple by 17,669.4% in the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock valued at $20,181,000 after purchasing an additional 20,067,124 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Apple by 1.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 19,610,272 shares of the iPhone maker’s stock valued at $3,290,212,000 after purchasing an additional 347,970 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Apple by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 16,158,094 shares of the iPhone maker’s stock valued at $2,711,005,000 after purchasing an additional 55,050 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Apple by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,977,515 shares of the iPhone maker’s stock valued at $2,680,707,000 after purchasing an additional 136,478 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Apple by 0.4% in the 1st quarter. American Century Companies Inc. now owns 14,064,371 shares of the iPhone maker’s stock valued at $2,359,720,000 after purchasing an additional 60,860 shares during the last quarter. Institutional investors own 58.58% of the company’s stock.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the sale, the senior vice president now directly owns 105,538 shares in the company, valued at approximately $24,554,471.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 564,185 shares of company stock valued at $124,444,213. Corporate insiders own 0.06% of the company’s stock.

Apple stock opened at $226.87 on Wednesday. The firm has a market cap of $1,109.54 billion, a PE ratio of 24.63, a PEG ratio of 1.99 and a beta of 1.36. Apple Inc. has a 12-month low of $150.24 and a 12-month high of $233.47. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.18 by $0.16. The business had revenue of $53.27 billion during the quarter, compared to analysts’ expectations of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 11.76 earnings per share for the current year.

AAPL has been the subject of several research reports. UBS Group set a $210.00 target price on shares of Apple and gave the company a “buy” rating in a report on Wednesday, June 13th. BidaskClub upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Sanford C. Bernstein reiterated a “neutral” rating and issued a $190.00 target price on shares of Apple in a report on Monday, June 25th. Barclays lifted their target price on shares of Apple from $161.00 to $175.00 and gave the company an “equal weight” rating in a report on Tuesday, June 26th. Finally, Loop Capital lifted their target price on shares of Apple from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, July 6th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirty have given a buy rating to the stock. Apple has an average rating of “Buy” and an average target price of $221.63.

Apple 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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