Access Financial Services Inc. Reduces Stake in Apple Inc. (AAPL)
Access Financial Services Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 26.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,800 shares of the iPhone maker’s stock after selling 650 shares during the period. Access Financial Services Inc.’s holdings in Apple were worth $259,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Norges Bank acquired a new position in Apple during the fourth quarter worth about $5,625,709,000. Asset Management One Co. Ltd. increased its position in Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock worth $1,096,072,000 after buying an additional 8,571,027 shares in the last quarter. Glenview Capital Management LLC acquired a new position in Apple during the fourth quarter worth about $365,191,000. Canada Pension Plan Investment Board increased its position in Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock worth $1,334,527,000 after buying an additional 1,749,797 shares in the last quarter. Finally, Flinton Capital Management LLC acquired a new position in Apple during the fourth quarter worth about $169,077,000. Institutional investors own 61.21% of the company’s stock.
Shares of Apple Inc. (AAPL) opened at 149.04 on Monday. The firm’s 50-day moving average is $150.30 and its 200 day moving average is $137.42. Apple Inc. has a 1-year low of $96.42 and a 1-year high of $156.65. The stock has a market capitalization of $777.07 billion, a P/E ratio of 17.48 and a beta of 1.31.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating 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 company had revenue of $52.90 billion for the quarter, compared to the consensus estimate of $52.61 billion. On average, analysts expect that Apple Inc. will post $8.92 EPS for the current fiscal year.
AAPL has been the subject of a number of research reports. Royal Bank Of Canada boosted their target price on shares of Apple from $157.00 to $168.00 and gave the company an “outperform” rating in a research report on Monday, May 22nd. Rosenblatt Securities set a $120.00 target price on shares of Apple and gave the company a “hold” rating in a research report on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 target price (up from $164.00) on shares of Apple in a research report on Friday, May 12th. Vetr upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $146.43 target price for the company in a research report on Monday, March 27th. Finally, Cowen and Company restated an “outperform” rating and set a $160.00 target price on shares of Apple in a research report on Thursday, May 25th. Eleven equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $160.29.
In other news, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Luca Maestri sold 6,308 shares of the stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $141.83, for a total value of $894,663.64. Following the completion of the sale, the insider now directly owns 2,665 shares of the company’s stock, valued at $377,976.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 379,308 shares of company stock worth $57,391,709. Corporate 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.
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.