Smith Shellnut Wilson LLC ADV cut its stake in shares of Apple (NASDAQ:AAPL) by 7.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,088 shares of the iPhone maker’s stock after selling 525 shares during the quarter. Apple comprises about 0.8% of Smith Shellnut Wilson LLC ADV’s investment portfolio, making the stock its 23rd largest position. Smith Shellnut Wilson LLC ADV’s holdings in Apple were worth $938,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. purchased a new position in Apple in the 2nd quarter valued at about $400,000. Blue Sky Asset Management LLC purchased a new position in Apple in the 2nd quarter valued at about $108,000. FNY Managed Accounts LLC lifted its holdings in Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares in the last quarter. Armbruster Capital Management Inc. lifted its holdings in Apple by 9.4% in the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after purchasing an additional 78 shares in the last quarter. Finally, Crow Point Partners LLC lifted its holdings in Apple by 100.0% in the 3rd quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock valued at $153,000 after purchasing an additional 500 shares in the last quarter. 61.35% of the stock is currently owned by institutional investors and hedge funds.
AAPL traded down $4.42 during trading hours on Friday, hitting $168.38. 35,005,290 shares of the stock were exchanged, compared to its average volume of 32,409,626. Apple has a 12 month low of $140.06 and a 12 month high of $183.50. The stock has a market capitalization of $876,789.50, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The firm had revenue of $88.29 billion for the quarter, compared to analysts’ expectations of $87.62 billion. During the same period last year, the business posted $3.36 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. research analysts anticipate that Apple will post 11.37 earnings per share for the current fiscal year.
A number of research analysts have issued reports on the stock. Nomura set a $175.00 target price on shares of Apple and gave the company a “neutral” rating in a report on Tuesday. Vetr lowered shares of Apple from a “strong-buy” rating to a “buy” rating and set a $186.86 target price on the stock. in a report on Monday, April 2nd. Royal Bank of Canada set a $203.00 target price on shares of Apple and gave the company a “buy” rating in a report on Tuesday. UBS set a $190.00 target price on shares of Apple and gave the company a “buy” rating in a report on Tuesday, March 27th. Finally, BMO Capital Markets lowered shares of Apple from an “outperform” rating to a “market perform” rating and upped their target price for the company from $162.00 to $166.00 in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. Apple presently has a consensus rating of “Buy” and an average price target of $202.52.
In related news, SVP Daniel J. Riccio sold 17,375 shares of the firm’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $169.12, for a total transaction of $2,938,460.00. Following the transaction, the senior vice president now directly owns 66,191 shares in the company, valued at $11,194,221.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Philip W. Schiller sold 69,491 shares of the firm’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total value of $11,564,692.22. The disclosure for this sale can be found here. Company 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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