Minneapolis Portfolio Management Group LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,312 shares of the iPhone maker’s stock after selling 388 shares during the period. Apple makes up 0.1% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 25th largest position. Minneapolis Portfolio Management Group LLC’s holdings in Apple were worth $412,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Fragasso Group Inc. bought a new position in shares of Apple during the first quarter worth approximately $1,491,000. DnB Asset Management AS raised its position in shares of Apple by 12.5% in the first quarter. DnB Asset Management AS now owns 1,358,002 shares of the iPhone maker’s stock worth $147,074,000 after buying an additional 150,491 shares in the last quarter. Peachtree Investment Advisors Inc. raised its position in shares of Apple by 1.5% in the first quarter. Peachtree Investment Advisors Inc. now owns 40,367 shares of the iPhone maker’s stock worth $4,400,000 after buying an additional 600 shares in the last quarter. Lau Associates LLC raised its position in shares of Apple by 0.5% in the first quarter. Lau Associates LLC now owns 57,914 shares of the iPhone maker’s stock worth $6,312,000 after buying an additional 275 shares in the last quarter. Finally, CENTRAL TRUST Co bought a new position in shares of Apple during the first quarter worth approximately $63,515,000. Institutional investors own 56.46% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 0.78% during mid-day trading on Friday, reaching $113.05. The company’s stock had a trading volume of 36,379,106 shares. The stock has a market capitalization of $609.16 billion, a price-to-earnings ratio of 13.18 and a beta of 1.14. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $123.82. The firm has a 50-day moving average of $109.76 and a 200-day moving average of $102.97.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The company had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 earnings per share. On average, equities research analysts expect that Apple Inc. will post $8.26 earnings per share for the current year.
AAPL has been the subject of several recent research reports. Piper Jaffray Cos. reissued an “overweight” rating and issued a $153.00 price target on shares of Apple in a research report on Tuesday, July 26th. Credit Suisse Group AG reissued an “outperform” rating and issued a $150.00 price target on shares of Apple in a research report on Thursday, September 15th. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Apple in a research report on Wednesday, July 20th. Citigroup Inc. increased their price target on shares of Apple from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Vetr lowered shares of Apple from a “hold” rating to a “sell” rating and set a $105.47 price target for the company. in a research report on Monday, August 15th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, forty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $126.13.
In other Apple news, CEO Timothy D. Cook sold 334,000 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $35,814,820.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel J. Riccio sold 22,381 shares of the business’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total value of $2,530,395.86. Following the transaction, the insider now owns 47,043 shares in the company, valued at approximately $5,318,681.58. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
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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