Smith Salley & Associates boosted its stake in Apple Inc. (NASDAQ:AAPL) by 11.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 120,431 shares of the iPhone maker’s stock after buying an additional 12,354 shares during the period. Apple comprises 2.7% of Smith Salley & Associates’ portfolio, making the stock its 3rd largest position. Smith Salley & Associates’ holdings in Apple were worth $11,513,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of AAPL. River & Mercantile Asset Management LLP raised its position in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 334 shares in the last quarter. Smith Affiliated Capital Corp. raised its position in Apple by 158.0% in the second quarter. Smith Affiliated Capital Corp. now owns 1,935 shares of the iPhone maker’s stock valued at $185,000 after buying an additional 1,185 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Apple by 5.4% in the second quarter. Capital Advisors Ltd. LLC now owns 2,088 shares of the iPhone maker’s stock valued at $200,000 after buying an additional 107 shares in the last quarter. Boston Standard Wealth Management LLC raised its position in Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock valued at $218,000 after buying an additional 14 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Apple during the second quarter valued at about $220,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.
Apple Inc. (NASDAQ:AAPL) traded up 0.19% during mid-day trading on Tuesday, hitting $113.09. 24,584,159 shares of the stock were exchanged. The firm has a 50-day moving average price of $109.21 and a 200-day moving average price of $102.67. The stock has a market capitalization of $609.38 billion, a P/E ratio of 13.19 and a beta of 1.14. 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 analysts’ consensus estimates of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. During the same quarter in the prior year, the business earned $1.85 EPS. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities analysts predict that Apple Inc. will post $8.26 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. Robert W. Baird restated a “buy” rating on shares of Apple in a research report on Thursday, June 2nd. Piper Jaffray Cos. restated a “buy” rating and set a $153.00 target price on shares of Apple in a research report on Wednesday, June 8th. RBC Capital Markets restated an “outperform” rating and set a $115.00 target price on shares of Apple in a research report on Friday, August 5th. Vetr lowered Apple from a “hold” rating to a “sell” rating and set a $103.98 target price for the company. in a research report on Monday, August 8th. Finally, Wells Fargo & Co. restated a “market perform” rating on shares of Apple in a research report on Friday, September 9th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-two have assigned a buy rating and two have assigned a strong buy rating to the company. Apple has an average rating of “Buy” and a consensus price target of $126.44.
In other Apple news, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction on 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 owns 105,839 shares in the company, valued at approximately $10,583,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 334,000 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $107.23, for a total value of $35,814,820.00. 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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