Becker Capital Management Inc. boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 16.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 603,397 shares of the iPhone maker’s stock after buying an additional 84,939 shares during the period. Apple comprises 2.4% of Becker Capital Management Inc.’s investment portfolio, making the stock its 4th largest position. Becker Capital Management Inc.’s holdings in Apple were worth $57,685,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Hussman Strategic Advisors Inc. bought a new position in shares of Apple during the second quarter worth $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 in 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 in 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 in the last quarter. Finally, Stelac Advisory Services LLC increased its position in shares of Apple by 70.5% in the second quarter. Stelac Advisory Services LLC now owns 2,100 shares of the iPhone maker’s stock worth $201,000 after buying an additional 868 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 0.15% during trading on Friday, reaching $114.06. The company had a trading volume of 24,358,443 shares. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $123.82. The company’s 50-day moving average is $110.36 and its 200 day moving average is $103.24. The firm has a market capitalization of $614.61 billion, a price-to-earnings ratio of 13.30 and a beta of 1.22.
Apple (NASDAQ:AAPL) last announced its earnings results 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 return on equity of 37.89% and a net margin of 21.70%. The business earned $42.36 billion during the quarter, compared to analysts’ expectations of $42.35 billion. During the same quarter in the prior year, the firm earned $1.85 earnings per share. The business’s revenue was down 14.6% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post $8.26 EPS for the current year.
AAPL has been the subject of a number of research analyst reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $115.00 target price on shares of Apple in a research note on Wednesday, July 6th. Piper Jaffray Cos. reissued an “overweight” rating and set a $153.00 price target on shares of Apple in a research note on Tuesday, July 26th. Cowen and Company reissued an “outperform” rating and set a $125.00 price target on shares of Apple in a research note on Thursday, July 28th. BMO Capital Markets reissued an “outperform” rating and set a $140.00 price target (up from $116.00) on shares of Apple in a research note on Monday, September 19th. Finally, BTIG Research boosted their price target on shares of Apple from $124.00 to $133.00 and gave the stock a “buy” rating in a research note on Thursday, September 15th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, forty-one have issued a buy rating and two have issued a strong buy rating to the company. Apple has an average 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 stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the completion of the transaction, the senior vice president now 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 through this hyperlink. Also, COO Jeffrey E. Williams sold 43,769 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $112.59, for a total value of $4,927,951.71. Following the transaction, the chief operating officer now directly owns 90,657 shares of the company’s stock, valued at approximately $10,207,071.63. The disclosure for this sale can be found here. Company 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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