Apple Inc. (AAPL) Holdings Cut by Alta Capital Management LLC
Alta Capital Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 646,872 shares of the iPhone maker’s stock after selling 55,158 shares during the quarter. Apple accounts for approximately 6.3% of Alta Capital Management LLC’s investment portfolio, making the stock its biggest holding. Alta Capital Management LLC’s holdings in Apple were worth $93,162,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Canada Pension Plan Investment Board raised its position in Apple by 23.2% during 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 acquiring an additional 1,749,797 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Apple during the first quarter worth $190,134,000. State of Wisconsin Investment Board raised its position in Apple by 15.5% during the first quarter. State of Wisconsin Investment Board now owns 5,578,551 shares of the iPhone maker’s stock worth $801,415,000 after acquiring an additional 749,158 shares in the last quarter. Achmea Investment Management B.V. bought a new stake in Apple during the first quarter worth $84,453,000. Finally, Schwab Charles Investment Management Inc. raised its position in Apple by 2.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 17,637,648 shares of the iPhone maker’s stock worth $2,533,825,000 after acquiring an additional 471,057 shares in the last quarter. 60.35% of the stock is currently owned by hedge funds and other institutional investors.
In other Apple news, SVP D Bruce Sewell sold 31,625 shares of Apple stock in a transaction on Monday, August 7th. The stock was sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the completion of the sale, the senior vice president now directly owns 112,430 shares of the company’s stock, valued at approximately $17,778,555.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction on Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is owned by company insiders.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same quarter in the previous year, the business earned $1.42 EPS. Apple’s revenue was up 7.2% compared to the same quarter last year.
Several analysts have issued reports on the stock. Vetr raised shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price target on the stock in a research report on Friday. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $170.00 price objective on shares of Apple in a research report on Wednesday, June 21st. Nomura reissued a “buy” rating and issued a $165.00 price objective on shares of Apple in a research report on Wednesday, July 5th. Maxim Group increased their price objective on shares of Apple from $171.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 19th. Finally, UBS AG reissued a “buy” rating and issued a $170.00 price objective on shares of Apple in a research report on Wednesday, May 31st. Ten equities research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Apple presently has a consensus rating of “Buy” and a consensus price target of $188.59.
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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