Patriot Wealth Management Inc. raised its position in Apple (NASDAQ:AAPL) by 12.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,150 shares of the iPhone maker’s stock after buying an additional 12,533 shares during the quarter. Apple makes up approximately 2.7% of Patriot Wealth Management Inc.’s portfolio, making the stock its 5th biggest position. Patriot Wealth Management Inc.’s holdings in Apple were worth $19,148,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stone House Investment Management LLC raised its stake in shares of Apple by 0.4% during the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after purchasing an additional 6 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in shares of Apple by 0.3% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock worth $782,000 after purchasing an additional 17 shares during the last quarter. Karp Capital Management Corp raised its stake in shares of Apple by 1.6% during the second quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock worth $206,000 after purchasing an additional 22 shares during the last quarter. Berkeley Capital Partners LLC raised its stake in shares of Apple by 0.6% during the second quarter. Berkeley Capital Partners LLC now owns 4,369 shares of the iPhone maker’s stock worth $629,000 after purchasing an additional 26 shares during the last quarter. Finally, Cutler Investment Counsel LLC raised its stake in shares of Apple by 1.0% during the second quarter. Cutler Investment Counsel LLC now owns 3,968 shares of the iPhone maker’s stock worth $571,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 61.33% of the company’s stock.
A number of brokerages recently weighed in on AAPL. Vetr lowered Apple from a “strong-buy” rating to a “buy” rating and set a $187.18 price objective on the stock. in a report on Wednesday, February 14th. UBS set a $190.00 price objective on Apple and gave the stock a “buy” rating in a report on Monday, December 4th. Zacks Investment Research raised Apple from a “hold” rating to a “buy” rating and set a $197.00 price objective on the stock in a report on Thursday, January 18th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 target price on shares of Apple in a report on Friday, March 16th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $200.00 target price on shares of Apple in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $201.69.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.82 by $0.07. The company had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $3.36 EPS. analysts predict that Apple will post 11.4 EPS for the current fiscal year.
In other news, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the transaction, the insider now directly owns 13,739 shares in the company, valued at approximately $2,401,302.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.
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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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