Eagle Asset Management Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 6.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 962,203 shares of the iPhone maker’s stock after selling 67,695 shares during the period. Apple accounts for approximately 0.6% of Eagle Asset Management Inc.’s portfolio, making the stock its 24th largest position. Eagle Asset Management Inc.’s holdings in Apple were worth $91,986,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Group LTD increased its position in shares of 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 in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock valued at $3,991,635,000 after buying an additional 301,502 shares in the last quarter. Franklin Resources Inc. increased its position in shares of 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 in the last quarter. Prudential Financial Inc. increased its position in shares of Apple by 1.0% in the first quarter. Prudential Financial Inc. now owns 12,655,593 shares of the iPhone maker’s stock valued at $1,379,333,000 after buying an additional 127,360 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Apple by 0.3% in the first quarter. Fisher Asset Management LLC now owns 11,315,252 shares of the iPhone maker’s stock valued at $1,242,981,000 after buying an additional 38,763 shares in the last quarter. 56.46% of the stock is owned by hedge funds and other institutional investors.
Apple Inc. (NASDAQ:AAPL) traded up 0.89% during midday trading on Wednesday, hitting $117.34. The stock had a trading volume of 37,581,797 shares. Apple Inc. has a 12-month low of $89.47 and a 12-month high of $123.82. The firm has a 50-day moving average of $110.78 and a 200-day moving average of $103.36. The company has a market cap of $632.28 billion, a PE ratio of 13.68 and a beta of 1.22.
Apple (NASDAQ:AAPL) last released its quarterly 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 company earned $42.36 billion during the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. Apple’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 EPS. Equities research analysts forecast that Apple Inc. will post $8.26 EPS for the current year.
AAPL has been the subject of several analyst reports. Citigroup Inc. reissued a “buy” rating and set a $115.00 price target on shares of Apple in a report on Wednesday, July 6th. Piper Jaffray Cos. restated an “overweight” rating and issued a $153.00 price objective on shares of Apple in a research report on Tuesday, July 26th. Cowen and Company restated an “outperform” rating and issued a $125.00 price objective on shares of Apple in a research report on Thursday, July 28th. BMO Capital Markets restated an “outperform” rating and issued a $140.00 price objective (up previously from $116.00) on shares of Apple in a research report on Monday, September 19th. Finally, OTR Global upgraded shares of Apple to a “positive” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-three have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $126.34.
In related news, COO Jeffrey E. Williams sold 43,769 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $112.59, for a total value of $4,927,951.71. Following the completion of the transaction, the chief operating officer now owns 90,657 shares of the company’s stock, valued at approximately $10,207,071.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the transaction, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate 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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