Apple Inc. (AAPL) is Appleton Partners Inc. MA’s 2nd Largest Position
Appleton Partners Inc. MA lowered its position in Apple Inc. (NASDAQ:AAPL) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,905 shares of the iPhone maker’s stock after selling 4,619 shares during the period. Apple comprises approximately 3.6% of Appleton Partners Inc. MA’s holdings, making the stock its 2nd largest position. Appleton Partners Inc. MA’s holdings in Apple were worth $21,445,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Hefty Wealth Partners lifted its position in shares of Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 174 shares during the period. American Beacon Advisors Inc. acquired a new stake in shares of Apple during the 1st quarter valued at approximately $117,000. Portfolio Solutions LLC acquired a new stake in shares of Apple during the 1st quarter valued at approximately $169,000. Fox Run Management L.L.C. acquired a new stake in shares of Apple during the 1st quarter valued at approximately $201,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of Apple during the 1st quarter valued at approximately $225,000. Hedge funds and other institutional investors own 60.35% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. UBS AG set a $170.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Tuesday, June 6th. Deutsche Bank AG restated a “hold” rating and set a $130.00 price objective on shares of Apple in a research report on Tuesday, June 6th. Credit Suisse Group restated an “outperform” rating and set a $170.00 price objective on shares of Apple in a research report on Tuesday, June 6th. BMO Capital Markets restated an “outperform” rating and set a $170.00 price objective on shares of Apple in a research report on Tuesday, July 25th. Finally, Macquarie restated an “outperform” rating and set a $170.00 price objective (up from $160.00) on shares of Apple in a research report on Tuesday, June 6th. Ten investment analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $188.96.
In related news, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the completion of the sale, the director now directly owns 1,168,283 shares of the company’s stock, valued at approximately $184,098,035.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was 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. Insiders have sold a total of 432,930 shares of company stock valued at $69,008,577 over the last three months. 0.08% of the stock is owned by corporate insiders.
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Apple Inc. (AAPL) traded up 0.55% during trading on Friday, hitting $154.12. The stock had a trading volume of 26,299,810 shares. The stock has a 50 day moving average price of $159.51 and a 200-day moving average price of $149.86. Apple Inc. has a 12 month low of $104.08 and a 12 month high of $164.94. The stock has a market cap of $796.07 billion, a price-to-earnings ratio of 17.50 and a beta of 1.27.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. During the same period last year, the company earned $1.42 EPS. Apple’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post $9.01 EPS for the current year.
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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