Putnam FL Investment Management Co. cut its position in Apple Inc. (NASDAQ:AAPL) by 11.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 234,680 shares of the iPhone maker’s stock after selling 30,127 shares during the period. Apple accounts for 2.7% of Putnam FL Investment Management Co.’s portfolio, making the stock its 4th largest position. Putnam FL Investment Management Co.’s holdings in Apple were worth $22,435,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Hussman Strategic Advisors Inc. bought a new position in shares of Apple during the second quarter worth approximately $143,000. River & Mercantile Asset Management LLP increased its position in shares of Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares during the last quarter. Smith Affiliated Capital Corp. increased its position in shares of Apple by 158.0% in the second quarter. Smith Affiliated Capital Corp. now owns 1,935 shares of the iPhone maker’s stock worth $185,000 after buying an additional 1,185 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Apple by 5.4% in the second quarter. Capital Advisors Ltd. LLC now owns 2,088 shares of the iPhone maker’s stock worth $200,000 after buying an additional 107 shares during the last quarter. Finally, Hutchinson Capital Management CA bought a new position in shares of Apple during the first quarter worth approximately $229,000. Institutional investors and hedge funds own 56.46% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.52% during mid-day trading on Tuesday, hitting $113.10. 23,088,943 shares of the stock were exchanged. Apple Inc. has a 12 month low of $89.47 and a 12 month high of $123.82. The firm has a market cap of $609.43 billion, a P/E ratio of 13.19 and a beta of 1.22. The stock’s 50 day moving average is $109.88 and its 200 day moving average is $102.98.
Apple (NASDAQ:AAPL) last released 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. Apple had a return on equity of 37.89% and a net margin of 21.70%. The company had revenue of $42.36 billion for the quarter, compared to analyst estimates of $42.35 billion. During the same quarter in the prior year, the firm posted $1.85 EPS. Apple’s quarterly revenue was down 14.6% compared to the same quarter last year. Analysts expect that Apple Inc. will post $8.26 EPS for the current fiscal year.
Several equities analysts have recently issued reports on the company. Raymond James Financial Inc. reiterated a “hold” rating on shares of Apple in a research report on Saturday, July 9th. Barclays PLC reiterated a “buy” rating on shares of Apple in a research report on Sunday, July 17th. Credit Suisse Group AG reiterated a “buy” rating and set a $150.00 price objective on shares of Apple in a research report on Sunday, July 17th. Brean Capital reiterated a “buy” rating and set a $125.00 price objective on shares of Apple in a research report on Wednesday, June 15th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $117.00 price objective (up from $115.00) on shares of Apple in a research report on Thursday, August 11th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, forty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $126.13.
In related news, CEO Timothy D. Cook sold 110,000 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $106.84, for a total transaction of $11,752,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 334,000 shares of the 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. Corporate insiders own 0.08% of the company’s stock.
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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