Pettee Investors Inc. increased its position in Apple Inc. (NASDAQ:AAPL) by 17.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,656 shares of the iPhone maker’s stock after buying an additional 2,000 shares during the period. Apple comprises 1.3% of Pettee Investors Inc.’s holdings, making the stock its 22nd largest position. Pettee Investors Inc.’s holdings in Apple were worth $1,306,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. acquired a new stake in Apple during the second quarter worth approximately $143,000. River & Mercantile Asset Management LLP increased 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 worth $172,000 after buying an additional 334 shares in the last quarter. Smith Affiliated Capital Corp. increased 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 worth $185,000 after buying an additional 1,185 shares in the last quarter. Capital Advisors Ltd. LLC increased 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 worth $200,000 after buying an additional 107 shares in the last quarter. Finally, Boston Standard Wealth Management LLC increased 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 worth $218,000 after buying an additional 14 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors.
Apple Inc. (NASDAQ:AAPL) traded up 0.51% during midday trading on Tuesday, hitting $113.09. 23,090,362 shares of the stock were exchanged. Apple Inc. has a 1-year low of $89.47 and a 1-year high of $123.82. The company’s 50 day moving average is $109.88 and its 200-day moving average is $102.98. The stock has a market cap of $609.38 billion, a PE ratio of 13.19 and a beta of 1.22.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The company earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. During the same period last year, the business earned $1.85 earnings per share. Apple’s revenue was down 14.6% compared to the same quarter last year. On average, analysts expect that Apple Inc. will post $8.26 earnings per share for the current year.
AAPL has been the topic of a number of research analyst reports. Drexel Hamilton restated a “buy” rating and issued a $185.00 target price on shares of Apple in a research report on Wednesday, September 14th. Piper Jaffray Cos. upgraded Apple to an “overweight” rating and set a $151.00 price objective on the stock in a report on Friday, September 16th. Canaccord Genuity reiterated a “buy” rating and issued a $140.00 price objective (up previously from $120.00) on shares of Apple in a report on Monday, September 12th. Nomura boosted their price objective on Apple from $120.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 22nd. Finally, Mizuho reiterated a “buy” rating and issued a $120.00 price objective on shares of Apple in a report on Thursday, September 1st. Four equities research 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 stock. The stock currently has a consensus rating of “Buy” and an average price target of $126.13.
In related news, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $100.00, for a total value of $2,500,000.00. Following the sale, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at $10,583,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Riccio sold 22,381 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $113.06, for a total transaction of $2,530,395.86. Following the completion of the sale, the insider now directly owns 47,043 shares in the company, valued at $5,318,681.58. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by 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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