Bourgeon Capital Management LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 33,617 shares of the iPhone maker’s stock after buying an additional 54 shares during the period. Apple accounts for about 2.1% of Bourgeon Capital Management LLC’s holdings, making the stock its 23rd largest position. Bourgeon Capital Management LLC’s holdings in Apple were worth $3,214,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. BlackRock Group LTD raised its stake in Apple by 3.3% in the first quarter. BlackRock Group LTD now owns 47,324,047 shares of the iPhone maker’s stock valued at $5,157,847,000 after buying an additional 1,498,288 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock valued at $3,991,635,000 after buying an additional 301,502 shares during the last quarter. Franklin Resources Inc. raised its stake in Apple by 13.9% in the first quarter. Franklin Resources Inc. now owns 14,170,724 shares of the iPhone maker’s stock valued at $1,544,480,000 after buying an additional 1,726,014 shares during the last quarter. Prudential Financial Inc. raised its stake in Apple by 1.0% in the first quarter. Prudential Financial Inc. now owns 12,655,593 shares of the iPhone maker’s stock valued at $1,379,333,000 after buying an additional 127,360 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Apple by 0.3% in the first quarter. Fisher Asset Management LLC now owns 11,315,252 shares of the iPhone maker’s stock valued at $1,242,981,000 after buying an additional 38,763 shares during the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 0.2848% during midday trading on Friday, hitting $114.2144. The company’s stock had a trading volume of 17,254,410 shares. The company has a market cap of $615.44 billion, a price-to-earnings ratio of 13.3179 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 company’s 50-day moving average is $110.22 and its 200 day moving average is $103.18.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. During the same quarter in the prior year, the company earned $1.85 EPS. The business’s revenue was down 14.6% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post $8.26 EPS for the current year.
Several research firms have recently issued reports on AAPL. RBC Capital Markets reiterated an “outperform” rating and issued a $115.00 target price on shares of Apple in a research note on Friday, August 5th. Vetr lowered shares of Apple from a “hold” rating to a “sell” rating and set a $103.98 price target for the company. in a research report on Monday, August 8th. Wells Fargo & Co. restated a “market perform” rating on shares of Apple in a research report on Friday, September 9th. BMO Capital Markets restated an “outperform” rating and set a $116.00 price target (down previously from $118.00) on shares of Apple in a research report on Thursday, July 21st. Finally, Macquarie restated an “outperform” rating and set a $115.00 price target on shares of Apple in a research report on Friday, August 26th. 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 given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $126.13.
In related news, insider Johny Srouji sold 9,827 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $108.44, for a total transaction of $1,065,639.88. Following the completion of the sale, the insider now directly owns 116,369 shares in the company, valued at approximately $12,619,054.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the company’s stock in a transaction on Friday, August 26th. The stock was 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 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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