Todd Asset Management LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 42.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 268,661 shares of the iPhone maker’s stock after selling 195,094 shares during the period. Todd Asset Management LLC’s holdings in Apple were worth $25,684,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Hussman Strategic Advisors Inc. bought a new stake in shares of Apple during the second quarter valued at $143,000. River & Mercantile Asset Management LLP boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of 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. Finally, Stelac Advisory Services LLC raised its position in Apple by 70.5% in the second quarter. Stelac Advisory Services LLC now owns 2,100 shares of the iPhone maker’s stock worth $201,000 after buying an additional 868 shares during the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 0.0701% during mid-day trading on Wednesday, reaching $113.0792. 14,059,691 shares of the company were exchanged. The stock has a market capitalization of $609.32 billion, a P/E ratio of 13.1855 and a beta of 1.22. The company’s 50 day moving average price is $109.98 and its 200-day moving average price is $103.03. Apple Inc. has a 12 month low of $89.47 and a 12 month high of $123.82.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The company had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.85 earnings per share. On average, equities analysts expect that Apple Inc. will post $8.26 earnings per share for the current fiscal year.
A number of research analysts have commented on AAPL shares. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $153.00 price target on shares of Apple in a research report on Tuesday, July 26th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $150.00 price target on shares of Apple in a research report on Thursday, September 15th. Citigroup Inc. upped their price target on Apple from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, September 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price target on shares of Apple in a research report on Wednesday, July 20th. Finally, Vetr lowered Apple from a “hold” rating to a “sell” rating and set a $105.47 price target for the company. in a research report on Monday, August 15th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, forty-one have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $126.13.
In related news, CEO Timothy D. Cook sold 334,000 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $107.23, for a total value of $35,814,820.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Angela J. Ahrendts sold 35,797 shares of the stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $100.00, for a total transaction of $3,579,700.00. Following the completion of the sale, the senior vice president now directly owns 105,839 shares in the company, valued at approximately $10,583,900. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
Apple Company 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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