TRUE Private Wealth Advisors cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,761 shares of the iPhone maker’s stock after selling 1,023 shares during the period. Apple makes up approximately 0.9% of TRUE Private Wealth Advisors’ investment portfolio, making the stock its 27th largest position. TRUE Private Wealth Advisors’ holdings in Apple were worth $2,654,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Hussman Strategic Advisors Inc. purchased a new stake in Apple during the second quarter valued at $143,000. River & Mercantile Asset Management LLP raised its stake in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 334 shares during the period. Smith Affiliated Capital Corp. raised its stake in Apple by 158.0% in the second quarter. Smith Affiliated Capital Corp. now owns 1,935 shares of the iPhone maker’s stock valued at $185,000 after buying an additional 1,185 shares during the period. Capital Advisors Ltd. LLC raised its stake in Apple by 5.4% in the second quarter. Capital Advisors Ltd. LLC now owns 2,088 shares of the iPhone maker’s stock valued at $200,000 after buying an additional 107 shares during the period. Finally, Boston Standard Wealth Management LLC raised its stake in Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock valued at $218,000 after buying an additional 14 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 0.52% during trading on Tuesday, hitting $113.10. The stock had a trading volume of 23,088,934 shares. The company has a market cap of $609.43 billion, a P/E ratio of 13.19 and a beta of 1.22. Apple Inc. has a one year low of $89.47 and a one year high of $123.82. The firm has a 50 day moving average of $109.88 and a 200-day moving average of $102.98.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The firm had revenue of $42.36 billion for the quarter, compared to analyst estimates of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business’s revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share. Equities analysts anticipate that Apple Inc. will post $8.26 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on AAPL shares. Vetr upgraded shares of Apple and set a $100.00 target price on the stock in a report on Thursday, July 14th. Bank of America Corp. reiterated a “buy” rating and issued a $120.00 target price on shares of Apple in a report on Tuesday, June 14th. Goldman Sachs Group Inc. restated a “buy” rating and set a $124.00 price objective on shares of Apple in a report on Tuesday, June 14th. Sanford C. Bernstein restated a “buy” rating and set a $135.00 price objective on shares of Apple in a report on Tuesday, June 14th. Finally, Piper Jaffray Cos. restated a “buy” rating and set a $153.00 price objective on shares of Apple in a report on Wednesday, June 8th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $126.13.
In other Apple news, CEO Timothy D. Cook sold 334,000 shares of the business’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $35,814,820.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction, the senior vice president now directly owns 105,839 shares in the company, valued at approximately $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.
Apple Company Profile
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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