Apple (AAPL) Holdings Boosted by Sterling Investment Management Inc.

Sterling Investment Management Inc. boosted its position in shares of Apple (NASDAQ:AAPL) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,995 shares of the iPhone maker’s stock after purchasing an additional 1,402 shares during the period. Apple comprises 4.7% of Sterling Investment Management Inc.’s holdings, making the stock its 4th largest position. Sterling Investment Management Inc.’s holdings in Apple were worth $4,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. FNY Managed Accounts LLC grew its holdings in shares of Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 716 shares in the last quarter. Private Vista LLC bought a new position in shares of Apple in the 2nd quarter valued at about $122,000. Crow Point Partners LLC grew its holdings in shares of Apple by 100.0% in the 3rd quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock valued at $153,000 after acquiring an additional 500 shares in the last quarter. Oak Point Wealth Management bought a new position in shares of Apple in the 4th quarter valued at about $163,000. Finally, Reaves W H & Co. Inc. bought a new position in shares of Apple in the 2nd quarter valued at about $200,000. Hedge funds and other institutional investors own 61.35% of the company’s stock.

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Several equities analysts have recently weighed in on AAPL shares. Citigroup restated a “buy” rating and issued a $200.00 price objective on shares of Apple in a report on Wednesday, December 13th. Bank of America cut Apple from a “buy” rating to a “neutral” rating and raised their price objective for the company from $180.00 to $220.00 in a report on Wednesday, January 17th. Cascend Securities raised their price objective on Apple from $200.00 to $220.00 and gave the company a “buy” rating in a report on Monday, January 29th. Morgan Stanley restated a “buy” rating and issued a $205.00 price objective (up previously from $200.00) on shares of Apple in a report on Tuesday, January 23rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of Apple in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Apple has an average rating of “Buy” and an average price target of $202.52.

In other Apple news, insider Philip W. Schiller sold 69,491 shares of the business’s stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $166.42, for a total transaction of $11,564,692.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Daniel J. Riccio sold 17,375 shares of the business’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $169.12, for a total transaction of $2,938,460.00. Following the sale, the senior vice president now directly owns 66,191 shares in the company, valued at approximately $11,194,221.92. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Shares of AAPL opened at $168.38 on Friday. Apple has a one year low of $140.06 and a one year high of $183.50. The company has a market cap of $854,362.38, a price-to-earnings ratio of 18.28, a PEG ratio of 1.28 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, beating the consensus estimate of $3.82 by $0.07. The business had revenue of $88.29 billion during the quarter, compared to the consensus estimate of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.36 earnings per share. sell-side analysts anticipate that Apple will post 11.37 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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