Apple Inc. (AAPL) is Parsec Financial Management Inc.’s Largest Position
Parsec Financial Management Inc. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,615 shares of the iPhone maker’s stock after acquiring an additional 9,445 shares during the quarter. Apple makes up 3.3% of Parsec Financial Management Inc.’s investment portfolio, making the stock its largest position. Parsec Financial Management Inc.’s holdings in Apple were worth $45,098,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of AAPL. Blue Sky Asset Management LLC purchased a new stake in shares of Apple during the second quarter worth about $108,000. Hefty Wealth Partners grew its holdings in shares of Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares in the last quarter. FNY Managed Accounts LLC grew its holdings in shares of Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares in the last quarter. Private Vista LLC purchased a new stake in shares of Apple during the second quarter worth about $122,000. Finally, Armbruster Capital Management Inc. boosted its position in shares of Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after acquiring an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 60.17% of the company’s stock.
In other news, insider Eduardo H. Cue sold 65,361 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total value of $2,695,726.35. Following the completion of the transaction, the insider now owns 39,682 shares in the company, valued at approximately $6,839,192.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,771 shares of company stock worth $19,381,421. Corporate insiders own 0.06% of the company’s stock.
Several equities research analysts recently issued reports on AAPL shares. Longbow Research reissued a “buy” rating and issued a $192.00 target price on shares of Apple in a research report on Monday, September 11th. UBS Group reissued a “buy” rating and issued a $180.00 target price on shares of Apple in a research report on Tuesday, September 12th. Bank of America reissued a “buy” rating and issued a $180.00 target price on shares of Apple in a research report on Wednesday, September 13th. Instinet reissued a “buy” rating and issued a $185.00 target price on shares of Apple in a research report on Wednesday, September 13th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 price target on shares of Apple in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Apple has an average rating of “Buy” and a consensus price target of $198.70.
Shares of Apple Inc. (NASDAQ AAPL) opened at $174.35 on Tuesday. Apple Inc. has a 1-year low of $117.94 and a 1-year high of $177.20. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23. The firm has a market cap of $895,170.00, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. Apple’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.50 EPS. equities research analysts anticipate that Apple Inc. will post 11.18 earnings per share for the current fiscal year.
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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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