Apple (AAPL) Stake Lessened by Benin Management CORP

Benin Management CORP cut its holdings in shares of Apple (NASDAQ:AAPL) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 27,607 shares of the iPhone maker’s stock after selling 737 shares during the period. Apple accounts for 1.9% of Benin Management CORP’s portfolio, making the stock its 15th biggest position. Benin Management CORP’s holdings in Apple were worth $4,672,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Jarislowsky Fraser Ltd increased its position in shares of Apple by 22.4% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 22,515 shares of the iPhone maker’s stock valued at $3,470,000 after acquiring an additional 4,118 shares during the period. Ramsay Stattman Vela & Price Inc. increased its position in shares of Apple by 3.3% in the 3rd quarter. Ramsay Stattman Vela & Price Inc. now owns 52,013 shares of the iPhone maker’s stock valued at $8,016,000 after acquiring an additional 1,668 shares during the period. Mizuho Securities USA LLC acquired a new position in shares of Apple in the 3rd quarter valued at $2,359,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Apple by 1.7% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,234,364 shares of the iPhone maker’s stock valued at $190,240,000 after acquiring an additional 20,689 shares during the period. Finally, Amussen Hunsaker & Associates LLC acquired a new position in shares of Apple in the 2nd quarter valued at $2,963,000. 61.35% of the stock is currently owned by institutional investors and hedge funds.

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Several equities analysts recently issued reports on the company. Nomura set a $175.00 target price on Apple and gave the company a “neutral” rating in a research report on Tuesday, April 3rd. Vetr lowered shares of Apple from a “strong-buy” rating to a “buy” rating and set a $186.86 price target on the stock. in a report on Monday, April 2nd. Royal Bank of Canada set a $203.00 price target on shares of Apple and gave the company a “buy” rating in a report on Tuesday, April 3rd. UBS set a $190.00 price target 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 price target for the company from $162.00 to $166.00 in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Apple has a consensus rating of “Buy” and a consensus target price of $202.52.

Shares of Apple stock opened at $168.38 on Friday. The stock has a market capitalization of $876,789.50, a P/E ratio of 18.28, a P/E/G ratio of 1.31 and a beta of 1.25. Apple has a twelve month low of $140.06 and a twelve month high of $183.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.82 by $0.07. The firm had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. Apple’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $3.36 EPS. sell-side analysts forecast that Apple will post 11.37 EPS for the current year.

In related news, insider Philip W. Schiller sold 69,491 shares of the firm’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $166.42, for a total value of $11,564,692.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Daniel J. Riccio sold 17,375 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $169.12, for a total transaction of $2,938,460.00. Following the completion of the transaction, the senior vice president now directly owns 66,191 shares in the company, valued at $11,194,221.92. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

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Apple 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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