Lockheed Martin Investment Management Co. lifted its holdings in shares of Apple (NASDAQ:AAPL) by 58.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 280,970 shares of the iPhone maker’s stock after buying an additional 103,230 shares during the quarter. Apple comprises 2.2% of Lockheed Martin Investment Management Co.’s investment portfolio, making the stock its 14th biggest position. Lockheed Martin Investment Management Co.’s holdings in Apple were worth $47,549,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in AAPL. Oakbrook Investments LLC lifted its stake in Apple by 35.5% in the 4th quarter. Oakbrook Investments LLC now owns 329,698 shares of the iPhone maker’s stock worth $55,795,000 after purchasing an additional 86,330 shares in the last quarter. Westpac Banking Corp lifted its stake in Apple by 6.8% in the 4th quarter. Westpac Banking Corp now owns 660,404 shares of the iPhone maker’s stock worth $111,760,000 after purchasing an additional 42,333 shares in the last quarter. Sterling Investment Management Inc. lifted its stake in Apple by 5.7% in the 4th quarter. Sterling Investment Management Inc. now owns 25,995 shares of the iPhone maker’s stock worth $4,399,000 after purchasing an additional 1,402 shares in the last quarter. Vista Capital Partners Inc. lifted its stake in Apple by 16.3% in the 4th quarter. Vista Capital Partners Inc. now owns 3,786 shares of the iPhone maker’s stock worth $608,000 after purchasing an additional 530 shares in the last quarter. Finally, Berkshire Asset Management LLC PA lifted its stake in Apple by 39.4% in the 4th quarter. Berkshire Asset Management LLC PA now owns 25,060 shares of the iPhone maker’s stock worth $4,241,000 after purchasing an additional 7,086 shares in the last quarter. Institutional investors own 61.35% of the company’s stock.
Several analysts have issued reports on AAPL shares. Citigroup reiterated a “buy” rating and issued a $200.00 target price on shares of Apple in a research note on Wednesday, December 13th. Bank of America cut shares of Apple from a “buy” rating to a “neutral” rating and increased their target price for the stock from $180.00 to $220.00 in a research note on Wednesday, January 17th. Cascend Securities increased their target price on shares of Apple from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Morgan Stanley reissued a “buy” rating and issued a $205.00 price target (up previously from $200.00) on shares of Apple in a report on Tuesday, January 23rd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of Apple in a report on Friday, January 19th. One investment 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 given a strong buy rating to the company’s stock. Apple currently has an average rating of “Buy” and an average price target of $202.52.
In other Apple news, insider Philip W. Schiller sold 69,491 shares of the firm’s stock in a transaction on 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 at the SEC website. Also, 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 completion of the sale, the senior vice president now directly owns 66,191 shares in the company, valued at approximately $11,194,221.92. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
AAPL stock opened at $168.38 on Monday. 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 has a 52 week low of $140.06 and a 52 week high of $183.50. The firm has a market cap of $854,362.38, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.28 and a beta of 1.25.
Apple (NASDAQ:AAPL) last released its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a net margin of 21.13% and a return on equity of 37.37%. The company had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. During the same quarter last year, the firm earned $3.36 EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. research analysts expect that Apple will post 11.37 earnings per share for the current year.
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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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