Certified Advisory Corp lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 51.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 28,309 shares of the iPhone maker’s stock after purchasing an additional 9,645 shares during the period. Apple accounts for about 2.8% of Certified Advisory Corp’s portfolio, making the stock its 5th largest position. Certified Advisory Corp’s holdings in Apple were worth $4,749,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in AAPL. Smart Portfolios LLC bought a new position in Apple in the first quarter valued at about $134,000. Oak Point Wealth Management bought a new position in Apple in the fourth quarter valued at about $163,000. Stuart Chaussee & Associates Inc. boosted its holdings in Apple by 940.8% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 1,072 shares of the iPhone maker’s stock valued at $181,000 after acquiring an additional 969 shares during the last quarter. Interactive Financial Advisors bought a new position in Apple in the fourth quarter valued at about $188,000. Finally, Delphi Private Advisors LLC boosted its holdings in Apple by 8,292.9% in the fourth quarter. Delphi Private Advisors LLC now owns 1,175 shares of the iPhone maker’s stock valued at $199,000 after acquiring an additional 1,161 shares during the last quarter. Institutional investors own 58.07% of the company’s stock.
Several equities analysts recently issued reports on AAPL shares. Atlantic Securities reiterated a “neutral” rating and issued a $185.00 price target on shares of Apple in a report on Wednesday, May 2nd. UBS Group set a $210.00 price target on Apple and gave the company a “buy” rating in a report on Wednesday, June 13th. Sanford C. Bernstein reissued a “neutral” rating and issued a $170.00 target price on shares of Apple in a research note on Thursday, April 26th. Vetr raised Apple from a “hold” rating to a “buy” rating and set a $184.49 target price on the stock in a research note on Monday, March 5th. Finally, Royal Bank of Canada set a $203.00 target price on Apple and gave the company a “buy” rating in a research note on Wednesday, April 11th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $207.20.
Shares of NASDAQ AAPL opened at $187.18 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.80. Apple Inc. has a 12 month low of $142.41 and a 12 month high of $194.20. The company has a market cap of $939.25 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 1.52 and a beta of 1.24.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.69 by $0.04. Apple had a return on equity of 39.97% and a net margin of 21.55%. The company had revenue of $61.14 billion during the quarter, compared to the consensus estimate of $60.94 billion. During the same period in the previous year, the company posted $2.10 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. research analysts expect that Apple Inc. will post 11.42 EPS for the current year.
Apple announced that its board has authorized a stock buyback program on Tuesday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 11.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, insider Luca Maestri sold 39,122 shares of Apple stock in a transaction that occurred on Friday, April 13th. The stock was sold at an average price of $174.66, for a total transaction of $6,833,048.52. Following the completion of the sale, the insider now directly owns 64,475 shares of the company’s stock, valued at approximately $11,261,203.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Daniel J. Riccio sold 17,375 shares of Apple stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $169.12, for a total value of $2,938,460.00. Following the sale, the senior vice president now directly owns 66,191 shares of the company’s stock, valued at $11,194,221.92. The disclosure for this sale can be found here. Insiders have sold a total of 209,583 shares of company stock valued at $38,042,762 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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