The most recent Form 13F report that Summit Financial Strategies Inc. submitted to the Securities and Exchange Commission revealed that during the third quarter of 2018, the company increased the value of its holdings in Apple Inc. (NASDAQ: AAPL) by 8.9%. The institutional investor has 67,144 shares in the company that makes iPhones after making additional purchases of 5,482 shares during the period in question. Summit Financial Strategies Inc. ranks Apple in 11th place among its most valuable holdings despite only having a 2.2% stake in the company. The value of Summit Financial Strategies Inc.’s Apple assets was reported to the SEC to be $9,279,000 by the company’s most recent disclosure with the SEC.
Recent adjustments have been made to the company’s holdings by several other institutional investors and hedge funds. These adjustments were made within the past few months. During the first quarter, Vanguard Group Inc. increased the amount of Apple stock owned by 0.7%, bringing its total ownership percentage to 100%. Following the purchase of an additional 8,734,393 shares during the period, Vanguard Group Inc. now owns a total of 1,269,995,750 shares of Apple stock, which are currently valued at $221,753,959,000. This brings the total number of shares that Vanguard Group, Inc. Price T. Rowe Associates Inc. increased the amount of Apple stock owned by 2.1% over the second quarter. Price T. Rowe Associates Inc. (MD) now owns 237,910,783 shares of the iPhone manufacturer’s stock, which have an estimated market value of $32,527,162,000 following the purchase of an additional 4,831,418 shares during the period in question. This gives the company a total market capitalization of $32,527,162,000. During the second quarter, Legal & General Group Plc achieved an 8.2% increase in the proportion of Apple stock it owned. Following the acquisition of a further 9,411,018 shares during the most recent period, Legal & General Group Plc now holds a total of 123,534,393 shares of the stock held by the company that manufactures the iPhone. These shares have a current market value of $16,889,649,000. Charles Schwab Investment Management Inc. increased the amount of Apple stock owned by 1.5 percent over the year’s first three months. Charles Schwab Investment Management Inc. now has a total of 80,739,774 shares of the iPhone maker’s stock, which are currently valued at $14,097,970,000 after making an additional purchase of 1,155,915 shares during the period. These shares have a current market value of $14,097,970,000. During the second quarter, UBS Asset Management Americas Inc. increased the amount of Apple stock owned by 12.1%, making this the last and most important point. UBS Asset Management Americas Inc. now owns a total of 80,467,043 shares of the company’s stock, which are currently valued at $11,001,469,000 following the acquisition of an additional 8,716,964 shares of the iPhone maker’s stock during the most recent period. These shares were purchased during the most recent period. Hedge funds and other types of institutional investors hold a total of 57.60% of the company’s market capitalization.
AAPL has been brought up as a topic of discussion in several different analyst reports. On January 12th, a research note on Apple shares was published by UBS Group. In the note, a price objective of $180.00 was established for the company. The research note distributed by JPMorgan Chase & Co. on Monday, January 2nd, indicated that the company’s target price for Apple shares is $190.00. Credit Suisse Group has reaffirmed its “buy” recommendation on Apple shares and has set a price objective of $184.00 for the stock. This information was made public on Wednesday in a research note published by the Credit Suisse Group. DA Davidson stated its decision to reduce its price objective on Apple shares to $167.00 in a research note published on December 1st. KeyCorp reaffirmed a “buy” rating on shares of Apple and set a price target of $175.
