Apple Inc. (AAPL) Holdings Reduced by Investment House LLC
Investment House LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 266,609 shares of the iPhone maker’s stock after selling 2,934 shares during the period. Apple accounts for about 5.7% of Investment House LLC’s portfolio, making the stock its biggest position. Investment House LLC’s holdings in Apple were worth $49,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of the business. First PREMIER Bank increased its stake in Apple by 7.4% during the 2nd quarter. First PREMIER Bank now owns 22,100 shares of the iPhone maker’s stock worth $4,090,000 after acquiring an additional 1,517 shares during the period. State of Alaska Department of Revenue increased its stake in Apple by 21.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 705,184 shares of the iPhone maker’s stock worth $130,536,000 after acquiring an additional 124,042 shares during the period. Pure Financial Advisors Inc. increased its stake in Apple by 5.0% during the 2nd quarter. Pure Financial Advisors Inc. now owns 21,397 shares of the iPhone maker’s stock worth $3,961,000 after acquiring an additional 1,018 shares during the period. Cobiz Wealth LLC increased its stake in Apple by 0.9% during the 2nd quarter. Cobiz Wealth LLC now owns 92,786 shares of the iPhone maker’s stock worth $17,176,000 after acquiring an additional 873 shares during the period. Finally, Private Capital Advisors Inc. increased its stake in Apple by 1.1% during the 2nd quarter. Private Capital Advisors Inc. now owns 75,393 shares of the iPhone maker’s stock worth $13,956,000 after acquiring an additional 830 shares during the period. Hedge funds and other institutional investors own 58.54% of the company’s stock.
A number of equities analysts have commented on AAPL shares. BidaskClub lowered Apple from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Royal Bank of Canada set a $240.00 target price on Apple and gave the company a “buy” rating in a report on Monday. Wells Fargo & Co reaffirmed a “neutral” rating and issued a $210.00 target price on shares of Apple in a report on Friday, August 10th. Morgan Stanley raised their target price on Apple from $214.00 to $232.00 and gave the company an “overweight” rating in a report on Tuesday, July 24th. Finally, Bank of America raised their target price on Apple from $250.00 to $256.00 and gave the company a “buy” rating in a report on Monday, September 10th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $218.85.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.18 by $0.16. Apple had a return on equity of 43.50% and a net margin of 21.98%. The company had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $52.43 billion. During the same quarter last year, the business posted $1.67 EPS. Apple’s revenue for the quarter was up 17.3% on a year-over-year basis. analysts forecast that Apple Inc. will post 11.76 earnings per share for the current fiscal year.
In related news, insider Johny Srouji sold 14,140 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $214.98, for a total transaction of $3,039,817.20. Following the sale, the insider now owns 68,302 shares of the company’s stock, valued at approximately $14,683,563.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 378,400 shares of company stock worth $81,052,754. 0.08% of the stock is currently owned by company insiders.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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