Bremer Trust National Association lowered its stake in Apple Inc. (NASDAQ:AAPL) by 11.2% during the first quarter, Holdings Channel reports. The institutional investor owned 50,421 shares of the iPhone maker’s stock after selling 6,381 shares during the period. Apple comprises 2.0% of Bremer Trust National Association’s investment portfolio, making the stock its 5th largest position. Bremer Trust National Association’s holdings in Apple were worth $7,244,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Glacier Peak Capital LLC purchased a new position in shares of Apple during the fourth quarter worth about $127,000. Welch Investments LLC purchased a new position in shares of Apple during the fourth quarter worth about $146,000. Odey Holdings AG boosted its position in shares of Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares during the period. Portfolio Solutions LLC purchased a new position in shares of Apple during the first quarter worth about $169,000. Finally, JJJ Advisors Inc. purchased a new position in shares of Apple during the fourth quarter worth about $176,000. 61.26% of the stock is currently owned by institutional investors.
Shares of Apple Inc. (NASDAQ AAPL) opened at 145.82 on Tuesday. Apple Inc. has a 1-year low of $91.50 and a 1-year high of $156.65. The company has a market capitalization of $760.28 billion, a price-to-earnings ratio of 17.11 and a beta of 1.28. The firm’s 50-day moving average is $151.25 and its 200-day moving average is $136.05.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.08. The business had revenue of $52.90 billion during the quarter, compared to analysts’ expectations of $52.61 billion. Apple had a return on equity of 35.09% and a net margin of 20.74%. Analysts forecast that Apple Inc. will post $8.94 earnings per share for the current fiscal year.
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A number of research analysts recently issued reports on AAPL shares. Royal Bank Of Canada lifted their price objective on shares of Apple from $157.00 to $168.00 and gave the company an “outperform” rating in a research note on Monday, May 22nd. Rosenblatt Securities set a $120.00 price objective on shares of Apple and gave the company a “hold” rating in a research note on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $170.00 price objective (up from $164.00) on shares of Apple in a research note on Friday, May 12th. Vetr raised shares of Apple from a “hold” rating to a “buy” rating and set a $146.43 price objective on the stock in a research note on Monday, March 27th. Finally, Cowen and Company reissued an “outperform” rating and issued a $160.00 price objective on shares of Apple in a research note on Thursday, May 25th. Ten equities research analysts have rated the stock with a hold rating, forty have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $160.83.
In related news, insider Angela J. Ahrendts sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $147.98, for a total transaction of $11,098,500.00. Following the completion of the sale, the insider now owns 154,116 shares in the company, valued at $22,806,085.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $153.88, for a total value of $5,385,800.00. Following the sale, the director now owns 1,168,283 shares of the company’s stock, valued at approximately $179,775,388.04. The disclosure for this sale can be found here. Insiders sold a total of 447,411 shares of company stock valued at $67,200,745 in the last quarter. 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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