Beck Mack & Oliver LLC Trims Holdings in Apple Inc. (AAPL)

Beck Mack & Oliver LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 68,339 shares of the iPhone maker’s stock after selling 6,493 shares during the period. Beck Mack & Oliver LLC’s holdings in Apple were worth $10,532,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Stone House Investment Management LLC boosted its position in Apple by 0.4% during the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after acquiring an additional 6 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in Apple by 0.3% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after acquiring an additional 17 shares in the last quarter. Lenox Wealth Advisors Inc. boosted its position in Apple by 0.4% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after acquiring an additional 20 shares in the last quarter. Karp Capital Management Corp boosted its position in Apple by 1.6% during the 2nd quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock valued at $206,000 after acquiring an additional 22 shares in the last quarter. Finally, Welch Investments LLC boosted its position in Apple by 1.5% during the 2nd quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock valued at $231,000 after acquiring an additional 23 shares in the last quarter. Institutional investors own 60.19% of the company’s stock.

Several brokerages have issued reports on AAPL. Bank of America cut Apple from a “buy” rating to a “neutral” rating and increased their target price for the company from $180.00 to $220.00 in a research report on Wednesday. Zacks Investment Research raised Apple from a “hold” rating to a “buy” rating and set a $197.00 price objective for the company in a research report on Thursday. Barclays set a $174.00 price objective on Apple and gave the stock a “neutral” rating in a research report on Thursday. Longbow Research cut Apple from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, Nomura set a $185.00 price objective on Apple and gave the stock a “buy” rating in a research report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $200.25.

In other Apple news, SVP Johny Srouji sold 5,760 shares of Apple stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the completion of the transaction, the senior vice president now owns 81,560 shares in the company, valued at approximately $14,224,064. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eduardo H. Cue sold 65,361 shares of Apple stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. Insiders have sold a total of 128,412 shares of company stock valued at $22,115,155 in the last quarter. Company insiders own 0.08% of the company’s stock.

Apple Inc. (AAPL) opened at $179.26 on Friday. The firm has a market capitalization of $920,380.00, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. Apple Inc. has a 52 week low of $119.37 and a 52 week high of $180.10. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. equities research analysts expect that Apple Inc. will post 11.18 earnings per share for the current fiscal year.

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Apple Profile

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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