Jpmorgan Chase & Company Cut Stake in Apple INC (AAPL) by $1.45 Billion

July 14, 2018 - By Jason Grubb

Apple Inc. (NASDAQ:AAPL) LogoInvestors sentiment decreased to 0.69 in Q1 2018. Its down 0.04, from 0.73 in 2017Q4. It dropped, as 69 investors sold AAPL shares while 1039 reduced holdings. 125 funds opened positions while 645 raised stakes. 2.86 billion shares or 3.74% less from 2.98 billion shares in 2017Q4 were reported. Verition Fund Mgmt Ltd Com holds 7,986 shares. Peddock Capital Ltd Liability invested in 20,785 shares or 1.84% of the stock. Guardian Cap Limited Partnership holds 0.5% or 171,522 shares. Godshalk Welsh Cap owns 14,400 shares for 2.6% of their portfolio. Rhumbline Advisers accumulated 8.64M shares. Texas Yale Corp invested in 0.74% or 50,907 shares. Camelot Portfolios Limited Com reported 1.49% stake. Lazard Asset Ltd reported 4.61 million shares. Amica Retiree Medical Tru holds 3.61% or 24,644 shares in its portfolio. Moreover, Old Natl Bank & Trust In has 1.46% invested in Apple Inc. (NASDAQ:AAPL) for 165,064 shares. New York-based Moore Capital Mgmt Ltd Partnership has invested 0.99% in Apple Inc. (NASDAQ:AAPL). Gilman Hill Asset Limited Liability Company reported 9,134 shares. Calamos Wealth Mgmt Ltd Liability Corp has invested 2.88% in Apple Inc. (NASDAQ:AAPL). Gw Henssler And Assoc Limited owns 3.42% invested in Apple Inc. (NASDAQ:AAPL) for 202,657 shares. Delta Cap Management Limited Liability Corp has 38,968 shares for 4.29% of their portfolio.

Since April 3, 2018, it had 0 insider buys, and 12 insider sales for $49.61 million activity. LEVINSON ARTHUR D sold $6.51 million worth of stock or 35,000 shares. Shares for $2.94M were sold by Riccio Daniel J. on Wednesday, April 4. $11.56 million worth of Apple Inc. (NASDAQ:AAPL) shares were sold by SCHILLER PHILIP W. 15,653 shares were sold by WILLIAMS JEFFREY E, worth $2.99 million. Maestri Luca had sold 39,122 shares worth $6.83 million. Shares for $6.75M were sold by AHRENDTS ANGELA J on Thursday, May 3.

Jpmorgan Chase & Company decreased its stake in Apple Inc (AAPL) by 16.83% based on its latest 2018Q1 regulatory filing with the SEC. Jpmorgan Chase & Company sold 8.69M shares as the company’s stock rose 5.37% while stock markets declined. The institutional investor held 42.94M shares of the computer manufacturing company at the end of 2018Q1, valued at $7.20B, down from 51.62 million at the end of the previous reported quarter. Jpmorgan Chase & Company who had been investing in Apple Inc for a number of months, seems to be less bullish one the $940.41B market cap company. The stock increased 0.16% or $0.3 during the last trading session, reaching $191.33. About 12.45 million shares traded. Apple Inc. (NASDAQ:AAPL) has risen 22.56% since July 14, 2017 and is uptrending. It has outperformed by 9.99% the S&P500.

Jpmorgan Chase & Company, which manages about $466.55B US Long portfolio, upped its stake in Forescout Technologies Inc by 106,989 shares to 147,465 shares, valued at $4.78M in 2018Q1, according to the filing. It also increased its holding in Ship Finance International L (NYSE:SFL) by 337,073 shares in the quarter, for a total of 567,852 shares, and has risen its stake in American Eqty Invt Life Hld (NYSE:AEL).

Analysts await Apple Inc. (NASDAQ:AAPL) to report earnings on August, 7. They expect $2.19 EPS, up 31.14 % or $0.52 from last year’s $1.67 per share. AAPL’s profit will be $10.76 billion for 21.84 P/E if the $2.19 EPS becomes a reality. After $2.73 actual EPS reported by Apple Inc. for the previous quarter, Wall Street now forecasts -19.78 % negative EPS growth.

More notable recent Apple Inc. (NASDAQ:AAPL) news were published by: Nasdaq.com which released: “Apple’s Next iPhone Could Drive Significant Growth” on July 13, 2018, also Benzinga.com with their article: “Apple Discontinues Photo Service” published on July 12, 2018, 247Wallst.com published: “Apple Wants China to Be Green, for Very Small Investment” on July 13, 2018. More interesting news about Apple Inc. (NASDAQ:AAPL) were released by: Seekingalpha.com and their article: “Apple underinvesting in innovation, Bernstein’s Sacconaghi says” published on July 13, 2018 as well as Seekingalpha.com‘s news article titled: “Former Apple employee arrested for trade secret theft” with publication date: July 10, 2018.

Apple Inc. (NASDAQ:AAPL) Ratings Coverage

Among 35 analysts covering Apple (NASDAQ:AAPL), 19 have Buy rating, 0 Sell and 16 Hold. Therefore 54% are positive. Apple has $235 highest and $157 lowest target. $198.46’s average target is 3.73% above currents $191.33 stock price. Apple had 76 analyst reports since January 15, 2018 according to SRatingsIntel. Maxim Group maintained the stock with “Buy” rating in Friday, February 2 report. The stock has “Hold” rating by Wells Fargo on Wednesday, May 2. The stock of Apple Inc. (NASDAQ:AAPL) has “Buy” rating given on Wednesday, May 23 by Bank of America. The rating was maintained by Nomura on Monday, May 21 with “Hold”. The firm earned “Neutral” rating on Monday, January 22 by Atlantic Securities. Longbow downgraded the stock to “Neutral” rating in Wednesday, January 17 report. Morgan Stanley maintained the shares of AAPL in report on Thursday, May 24 with “Overweight” rating. The stock of Apple Inc. (NASDAQ:AAPL) earned “Buy” rating by UBS on Tuesday, March 27. As per Monday, June 25, the company rating was maintained by RBC Capital Markets. As per Wednesday, May 30, the company rating was downgraded by Maxim Group.

Apple Inc. (NASDAQ:AAPL) Institutional Positions Chart

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