Smithbridge Asset Management Inc. DE Cuts Position in Apple Inc. (AAPL)

Smithbridge Asset Management Inc. DE reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 44,266 shares of the iPhone maker’s stock after selling 1,165 shares during the period. Apple comprises approximately 5.6% of Smithbridge Asset Management Inc. DE’s portfolio, making the stock its largest position. Smithbridge Asset Management Inc. DE’s holdings in Apple were worth $6,359,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Noven Financial Group Inc. boosted its stake in shares of Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock valued at $857,000 after buying an additional 22 shares during the period. Cordasco Financial Network boosted its stake in shares of Apple by 1.0% in the first quarter. Cordasco Financial Network now owns 3,184 shares of the iPhone maker’s stock valued at $457,000 after buying an additional 31 shares during the period. Wall Street Access Asset Management LLC boosted its stake in shares of Apple by 0.3% in the fourth quarter. Wall Street Access Asset Management LLC now owns 18,345 shares of the iPhone maker’s stock valued at $2,124,000 after buying an additional 50 shares during the period. Newman Dignan & Sheerar Inc. boosted its stake in shares of Apple by 0.4% in the first quarter. Newman Dignan & Sheerar Inc. now owns 24,371 shares of the iPhone maker’s stock valued at $3,501,000 after buying an additional 108 shares during the period. Finally, Integrated Investment Consultants LLC boosted its stake in shares of Apple by 1.5% in the first quarter. Integrated Investment Consultants LLC now owns 8,835 shares of the iPhone maker’s stock valued at $1,269,000 after buying an additional 131 shares during the period. 61.26% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Apple Inc. (NASDAQ:AAPL) opened at 146.28 on Monday. The firm’s 50-day moving average is $151.25 and its 200-day moving average is $136.05. Apple Inc. has a 12 month low of $91.50 and a 12 month high of $156.65. The stock has a market capitalization of $762.68 billion, a P/E ratio of 17.16 and a beta of 1.28.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The business had revenue of $52.90 billion during the quarter, compared to the consensus estimate of $52.61 billion. On average, equities analysts expect that Apple Inc. will post $8.94 earnings per share for the current fiscal year.

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Several equities research analysts have commented on AAPL shares. Mizuho boosted their price target on shares of Apple from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, February 27th. Guggenheim boosted their price target on shares of Apple from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, February 28th. BTIG Research boosted their price target on shares of Apple from $133.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, March 1st. Vetr cut shares of Apple from a “buy” rating to a “hold” rating and set a $137.24 price target on the stock. in a research report on Wednesday, March 1st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $130.00 price target on shares of Apple in a research report on Friday, March 3rd. Ten research analysts have rated the stock with a hold rating, forty have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $160.83.

In other news, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $155.32, for a total transaction of $1,855,918.68. Following the completion of the sale, the insider now directly owns 13,049 shares in the company, valued at $2,026,770.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Luca Maestri sold 4,757 shares of Apple stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total value of $735,907.90. Following the sale, the insider now owns 3,414 shares of the company’s stock, valued at $528,145.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 447,411 shares of company stock valued at $67,200,745. Corporate insiders own 0.08% of the company’s stock.

About Apple

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AAPL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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