Apple Inc. (AAPL) Shares Sold by Atalanta Sosnoff Capital LLC
Atalanta Sosnoff Capital LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 8.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 801,934 shares of the iPhone maker’s stock after selling 75,100 shares during the period. Apple comprises approximately 4.9% of Atalanta Sosnoff Capital LLC’s holdings, making the stock its 3rd biggest position. Atalanta Sosnoff Capital LLC’s holdings in Apple were worth $148,446,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. Summit Trail Advisors LLC increased its position in Apple by 17,669.4% in the first quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after buying an additional 20,067,124 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Apple in the first quarter worth about $830,026,000. SG Americas Securities LLC increased its position in Apple by 1,527.6% in the first quarter. SG Americas Securities LLC now owns 2,652,244 shares of the iPhone maker’s stock worth $444,993,000 after buying an additional 2,489,285 shares in the last quarter. Mackay Shields LLC purchased a new stake in Apple in the first quarter worth about $332,905,000. Finally, Harvard Management Co. Inc. bought a new position in shares of Apple in the first quarter worth about $283,972,000. Institutional investors and hedge funds own 58.54% of the company’s stock.
In other Apple news, insider Johny Srouji sold 14,140 shares of the company’s stock in a transaction that occurred 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 directly owns 68,302 shares in the company, valued at $14,683,563.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction that occurred 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. Over the last 90 days, insiders have sold 378,400 shares of company stock worth $81,052,754. Company insiders own 0.08% of the company’s stock.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $52.43 billion. During the same period in the prior year, the company earned $1.67 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. research analysts predict that Apple Inc. will post 11.76 earnings per share for the current year.
A number of equities analysts have recently weighed in on the company. Morgan Stanley reaffirmed a “buy” rating and issued a $245.00 price objective (up previously from $232.00) on shares of Apple in a research note on Wednesday, September 5th. DA Davidson reaffirmed a “buy” rating and issued a $265.00 price objective (up previously from $230.00) on shares of Apple in a research note on Wednesday, September 5th. DZ Bank reaffirmed a “buy” rating on shares of Apple in a research note on Monday, September 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $250.00 price objective (up previously from $220.00) on shares of Apple in a research note on Tuesday, September 4th. Finally, Cascend Securities upped their price objective on Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, September 4th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirty have issued a buy rating to the company’s stock. Apple has an average rating of “Buy” and an average target price of $220.66.
Apple Company Profile
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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