North Star Investment Management Corp. reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 100,281 shares of the iPhone maker’s stock after selling 712 shares during the period. Apple accounts for approximately 2.2% of North Star Investment Management Corp.’s portfolio, making the stock its 5th largest position. North Star Investment Management Corp.’s holdings in Apple were worth $18,563,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Quattro Financial Advisors LLC acquired a new position in Apple in the first quarter worth $133,000. Smart Portfolios LLC acquired a new position in Apple in the first quarter worth $134,000. CX Institutional acquired a new position in Apple in the second quarter worth $135,000. Spectrum Financial Alliance Ltd LLC acquired a new position in Apple in the first quarter worth $138,000. Finally, Macroview Investment Management LLC boosted its stake in Apple by 220.3% in the first quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 619 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.
In other news, insider Luca Maestri sold 100,245 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $228.56, for a total value of $22,911,997.20. Following the completion of the sale, the insider now directly owns 91,665 shares of the company’s stock, valued at $20,950,952.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 564,185 shares of company stock valued at $124,444,213. Insiders own 0.08% of the company’s stock.
AAPL has been the topic of a number of recent analyst reports. New Street Research lowered Apple from a “neutral” rating to a “sell” rating in a research note on Monday, August 20th. Bank of America boosted their price objective on Apple from $250.00 to $256.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Morgan Stanley boosted their price objective on Apple from $245.00 to $247.00 and gave the stock an “overweight” rating in a research note on Thursday, September 13th. Macquarie set a $214.00 price objective on Apple and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $240.00 price objective on shares of Apple in a research note on Thursday, September 13th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirty have assigned a buy rating to the company. Apple has an average rating of “Buy” and an average price target of $224.63.
AAPL opened at $219.31 on Friday. Apple Inc. has a 12-month low of $150.24 and a 12-month high of $233.47. The company has a market capitalization of $1,061.77 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 1.66 and a beta of 1.36. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.16. Apple had a return on equity of 43.50% and a net margin of 21.98%. The company had revenue of $53.27 billion during the quarter, compared to analysts’ expectations of $52.43 billion. During the same period last year, the firm posted $1.67 earnings per share. The business’s revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 11.76 earnings per share for the current fiscal year.
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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