Premier Asset Managment LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,806 shares of the iPhone maker’s stock after selling 2,424 shares during the period. Apple accounts for about 4.1% of Premier Asset Managment LLC’s investment portfolio, making the stock its 2nd largest position. Premier Asset Managment LLC’s holdings in Apple were worth $15,851,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TNB Financial raised its stake in Apple by 10.5% in the first quarter. TNB Financial now owns 98,185 shares of the iPhone maker’s stock valued at $10,701,000 after buying an additional 9,326 shares in the last quarter. Quotient Investors LLC raised its stake in Apple by 10.9% in the first quarter. Quotient Investors LLC now owns 99,881 shares of the iPhone maker’s stock valued at $10,886,000 after buying an additional 9,778 shares in the last quarter. Berkshire Asset Management LLC PA raised its stake in Apple by 1.1% in the first quarter. Berkshire Asset Management LLC PA now owns 14,304 shares of the iPhone maker’s stock valued at $1,559,000 after buying an additional 154 shares in the last quarter. Eastern Bank raised its stake in Apple by 2.4% in the first quarter. Eastern Bank now owns 292,233 shares of the iPhone maker’s stock valued at $31,851,000 after buying an additional 6,878 shares in the last quarter. Finally, Osborne Partners Capital Management LLC raised its stake in Apple by 2.6% in the first quarter. Osborne Partners Capital Management LLC now owns 153,358 shares of the iPhone maker’s stock valued at $16,714,000 after buying an additional 3,830 shares in the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 1.74% during mid-day trading on Monday, hitting $116.05. The company had a trading volume of 36,235,956 shares. The company has a 50-day moving average price of $110.55 and a 200 day moving average price of $103.27. The firm has a market capitalization of $625.33 billion, a P/E ratio of 13.53 and a beta of 1.22. Apple Inc. has a 12 month low of $89.47 and a 12 month high of $123.82.
Apple (NASDAQ:AAPL) last posted 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. The business had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.85 EPS. Equities analysts forecast that Apple Inc. will post $8.26 EPS for the current fiscal year.
Several analysts have issued reports on AAPL shares. Drexel Hamilton restated a “buy” rating and issued a $185.00 price target on shares of Apple in a research report on Wednesday, September 14th. Piper Jaffray Cos. upgraded shares of Apple to an “overweight” rating and set a $151.00 price target on the stock in a research report on Friday, September 16th. Canaccord Genuity reaffirmed a “buy” rating and set a $140.00 price objective (up from $120.00) on shares of Apple in a report on Monday, September 12th. Nomura raised their price objective on shares of Apple from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 22nd. Finally, Mizuho reaffirmed a “buy” rating and set 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 given a buy rating and two have assigned a strong buy rating to the stock. Apple currently has a consensus rating of “Buy” and an average 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 dated 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 filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 110,000 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $106.84, for a total value of $11,752,400.00. 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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