BNP Paribas Arbitrage SA boosted its stake in Apple Inc. (NASDAQ:AAPL) by 34.8% during the second quarter, Holdings Channel reports. The fund owned 5,887,600 shares of the iPhone maker’s stock after buying an additional 1,521,440 shares during the period. Apple accounts for 2.5% of BNP Paribas Arbitrage SA’s portfolio, making the stock its 5th largest position. BNP Paribas Arbitrage SA’s holdings in Apple were worth $562,855,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Catamount Wealth Management purchased a new position in Apple during the first quarter valued at about $2,298,000. Gardiner Nancy B raised its position in Apple by 7.7% in the first quarter. Gardiner Nancy B now owns 6,686 shares of the iPhone maker’s stock valued at $730,000 after buying an additional 478 shares during the last quarter. Lebenthal Asset Management LLC purchased a new position in Apple during the first quarter valued at about $5,269,000. Kovitz Investment Group Partners LLC purchased a new position in Apple during the first quarter valued at about $85,563,000. Finally, Cullinan Associates Inc. raised its position in Apple by 15.6% in the first quarter. Cullinan Associates Inc. now owns 190,123 shares of the iPhone maker’s stock valued at $20,722,000 after buying an additional 25,723 shares during the last quarter. Hedge funds and other 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’s 50 day moving average price is $109.76 and its 200 day moving average price is $102.97. The stock has a market capitalization of $609.16 billion, a P/E ratio of 13.18 and a beta of 1.14. Apple Inc. has a 1-year low of $89.47 and a 1-year high of $123.82.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.04. The company earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. Apple’s revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 EPS. Analysts expect that Apple Inc. will post $8.26 EPS for the current fiscal year.
AAPL has been the subject of several recent analyst reports. Wells Fargo & Co. reaffirmed a “market perform” rating and set a $112.50 price objective on shares of Apple in a research report on Friday. Citigroup Inc. raised their price objective on shares of Apple from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday. Barclays PLC reaffirmed an “overweight” rating and set a $114.00 price objective (down previously from $115.00) on shares of Apple in a research report on Thursday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Apple in a research report on Wednesday. Finally, Brean Capital reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday. Four analysts have rated the stock with a sell rating, nine have given a hold rating, forty-two have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $126.13.
In other Apple news, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the transaction, the senior vice president now directly owns 105,839 shares in the company, valued at approximately $10,583,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 334,000 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $107.23, for a total value of $35,814,820.00. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
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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