Sit Investment Associates Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 435,740 shares of the iPhone maker’s stock after selling 49,171 shares during the quarter. Apple makes up 1.7% of Sit Investment Associates Inc.’s investment portfolio, making the stock its 3rd largest position. Sit Investment Associates Inc.’s holdings in Apple were worth $67,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Berkshire Hathaway Inc. boosted its position in shares of Apple by 0.6% during the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after purchasing an additional 834,854 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after purchasing an additional 3,845,363 shares in the last quarter. Legal & General Group Plc raised its stake in Apple by 3.0% during the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after buying an additional 771,046 shares during the last quarter. Janus Henderson Group PLC raised its stake in Apple by 301.3% during the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after buying an additional 15,018,790 shares during the last quarter. Finally, Swiss National Bank raised its stake in Apple by 1.5% during the second quarter. Swiss National Bank now owns 19,169,416 shares of the iPhone maker’s stock valued at $2,760,779,000 after buying an additional 275,400 shares during the last quarter. Hedge funds and other institutional investors own 60.17% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) traded up $1.81 during mid-day trading on Friday, reaching $177.09. The company’s stock had a trading volume of 25,226,000 shares, compared to its average volume of 26,680,000. Apple Inc. has a fifty-two week low of $118.22 and a fifty-two week high of $177.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The stock has a market capitalization of $909,240.00, a P/E ratio of 19.27, a PEG ratio of 1.43 and a beta of 1.23.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.20. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. equities research analysts expect that Apple Inc. will post 11.18 earnings per share for the current fiscal year.
A number of research analysts have issued reports on the company. Maxim Group lifted their price objective on Apple from $193.00 to $204.00 and gave the company a “buy” rating in a research note on Friday. Nomura set a $185.00 price target on Apple and gave the stock a “buy” rating in a research note on Monday, September 25th. KeyCorp upgraded Apple from a “sector weight” rating to an “overweight” rating and boosted their price target for the stock from $173.75 to $187.00 in a research note on Monday, October 16th. Sanford C. Bernstein restated a “buy” rating and issued a $175.00 price target on shares of Apple in a research note on Tuesday, September 26th. Finally, Vetr cut Apple from a “buy” rating to a “hold” rating and set a $171.48 price target for the company. in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $198.94.
In related news, SVP Johny Srouji sold 5,760 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total value of $1,004,544.00. Following the transaction, the senior vice president now owns 81,560 shares of the company’s stock, valued at $14,224,064. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $172.35, for a total value of $2,695,726.35. Following the completion of the transaction, the insider now directly owns 39,682 shares in the company, valued at approximately $6,839,192.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,412 shares of company stock worth $22,115,155. Company insiders own 0.08% of the company’s stock.
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Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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