Managed Account Services Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 19.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,952 shares of the iPhone maker’s stock after selling 940 shares during the quarter. Managed Account Services Inc.’s holdings in Apple were worth $609,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. LaFleur & Godfrey LLC bought a new position in Apple in the 1st quarter worth $28,234,000. Verity & Verity LLC raised its holdings in Apple by 4.3% in the 1st quarter. Verity & Verity LLC now owns 59,562 shares of the iPhone maker’s stock worth $8,557,000 after purchasing an additional 2,471 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Apple by 23.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock worth $1,334,527,000 after purchasing an additional 1,749,797 shares in the last quarter. Orca Investment Management LLC raised its holdings in Apple by 78.2% in the 1st quarter. Orca Investment Management LLC now owns 25,033 shares of the iPhone maker’s stock worth $3,596,000 after purchasing an additional 10,986 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in Apple by 2.8% in the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 75,432 shares of the iPhone maker’s stock worth $10,837,000 after purchasing an additional 2,065 shares in the last quarter. Hedge funds and other institutional investors own 60.17% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded up $1.81 during midday trading on Friday, reaching $177.09. 25,226,000 shares of the company’s stock traded hands, compared to its average volume of 26,680,000. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23. The stock has a market capitalization of $909,240.00, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Apple Inc. has a 52 week low of $118.22 and a 52 week high of $177.36.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The company had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. During the same period in the previous year, the firm earned $1.50 earnings per share. Apple’s quarterly revenue was up 12.2% compared to the same quarter last year. research analysts anticipate that Apple Inc. will post 11.18 EPS for the current fiscal year.
Several research analysts have commented on the stock. Vetr upgraded shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price objective for the company in a report on Friday, September 22nd. Rosenblatt Securities reaffirmed a “hold” rating and issued a $150.00 target price on shares of Apple in a research report on Sunday, October 15th. Citigroup reaffirmed a “buy” rating and issued a $200.00 target price (up from $170.00) on shares of Apple in a research report on Friday, November 3rd. They noted that the move was a valuation call. UBS Group set a $190.00 target price on shares of Apple and gave the stock a “buy” rating in a research report on Monday, December 4th. Finally, Bank of America reaffirmed a “buy” rating and issued a $180.00 target price on shares of Apple in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, forty have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $198.94.
In other news, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction on Friday, January 5th. The stock was sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the completion of the sale, the insider now directly owns 13,739 shares in the company, valued at $2,401,302.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Johny Srouji sold 5,760 shares of Apple stock in a transaction 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 sale, the senior vice president now owns 81,560 shares of the company’s stock, valued at $14,224,064. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,412 shares of company stock valued at $22,115,155. Corporate insiders own 0.08% of the company’s stock.
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Apple Company Profile
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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