SPC Financial Inc. reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 12,481 shares of the iPhone maker’s stock after selling 426 shares during the period. SPC Financial Inc.’s holdings in Apple were worth $2,094,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Smart Portfolios LLC purchased a new position in Apple during the 1st quarter worth $134,000. Oak Point Wealth Management purchased a new position in Apple during the 4th quarter worth $163,000. Stuart Chaussee & Associates Inc. increased its holdings in Apple by 940.8% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 1,072 shares of the iPhone maker’s stock worth $181,000 after purchasing an additional 969 shares during the period. Interactive Financial Advisors purchased a new position in Apple during the 4th quarter worth $188,000. Finally, Delphi Private Advisors LLC increased its holdings in Apple by 8,292.9% during the 4th quarter. Delphi Private Advisors LLC now owns 1,175 shares of the iPhone maker’s stock worth $199,000 after purchasing an additional 1,161 shares during the period. 58.07% of the stock is owned by hedge funds and other institutional investors.
In other Apple news, insider Luca Maestri sold 39,122 shares of the business’s 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 in the company, valued at approximately $11,261,203.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $187.00, for a total value of $910,129.00. Following the sale, the insider now owns 8,433 shares of the company’s stock, valued at $1,576,971. The disclosure for this sale can be found here. In the last 90 days, insiders sold 192,208 shares of company stock valued at $35,104,302. 0.08% of the stock is owned by company insiders.
Shares of Apple stock opened at $183.92 on Thursday. 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 twelve month low of $142.41 and a twelve month high of $194.20. The stock has a market capitalization of $931.79 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share for the quarter, beating 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 firm had revenue of $61.14 billion during the quarter, compared to analyst estimates of $60.94 billion. During the same quarter in the previous year, the business earned $2.10 EPS. Apple’s revenue for the quarter was up 15.6% compared to the same quarter last year. analysts forecast that Apple Inc. will post 11.42 earnings per share for the current fiscal year.
Apple announced that its board has approved 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 repurchase up to 11.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
AAPL has been the topic of a number of analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $203.00 price target on shares of Apple in a report on Wednesday, March 28th. Rosenblatt Securities set a $180.00 price target on Apple and gave the company a “buy” rating in a report on Wednesday, March 28th. UBS Group set a $190.00 price target on Apple and gave the company a “buy” rating in a report on Tuesday, March 27th. Vetr downgraded Apple from a “strong-buy” rating to a “buy” rating and set a $191.74 price target on the stock. in a report on Monday, March 26th. Finally, Bank of America reiterated a “buy” rating and issued a $220.00 price target on shares of Apple in a report on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the stock. Apple has a consensus rating of “Buy” and an average price target of $207.20.
Apple Company Profile
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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