Univest Corp of Pennsylvania reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.0% during the second quarter, Holdings Channel reports. The fund owned 42,700 shares of the iPhone maker’s stock after selling 3,192 shares during the period. Apple comprises approximately 1.9% of Univest Corp of Pennsylvania’s investment portfolio, making the stock its 6th largest position. Univest Corp of Pennsylvania’s holdings in Apple were worth $4,082,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. NN Investment Partners Holdings N.V. acquired a new stake in Apple during the first quarter valued at approximately $325,287,000. Virginia Retirement System acquired a new stake in Apple during the first quarter valued at approximately $193,992,000. 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. BNP Paribas Arbitrage SA raised its stake in Apple by 34.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,887,600 shares of the iPhone maker’s stock valued at $562,855,000 after buying an additional 1,521,440 shares during the last quarter. Finally, 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. 56.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.31% during trading on Thursday, hitting $116.98. The stock had a trading volume of 35,151,585 shares. The company has a market capitalization of $630.34 billion, a PE ratio of 13.64 and a beta of 1.22. The firm has a 50-day moving average price of $111.02 and a 200 day moving average price of $103.46. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $123.82.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $42.36 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company earned $1.85 EPS. Equities analysts anticipate that Apple Inc. will post $8.26 earnings per share for the current year.
AAPL has been the topic of several recent analyst reports. Vetr raised shares of Apple and set a $100.00 target price on the stock in a research note on Thursday, July 14th. BMO Capital Markets reissued a “buy” rating and set a $118.00 target price on shares of Apple in a research note on Friday, June 17th. Piper Jaffray Cos. reissued a “buy” rating on shares of Apple in a research note on Friday, June 17th. Mizuho reissued a “buy” rating and set a $120.00 target price on shares of Apple in a research note on Tuesday, June 21st. Finally, Nomura reissued a “buy” rating and set a $120.00 target price on shares of Apple in a research note on Tuesday, June 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-three have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $126.72.
In other news, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 105,839 shares in the company, valued at approximately $10,583,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP D Bruce Sewell sold 23,305 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $107.49, for a total value of $2,505,054.45. Following the transaction, the senior vice president now owns 239,329 shares in the company, valued at $25,725,474.21. The disclosure for this sale can be found here. 0.08% of the stock is owned by company 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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