Apple Inc. (AAPL) Stake Lowered by Capital Asset Advisory Services LLC
Capital Asset Advisory Services LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,025 shares of the iPhone maker’s stock after selling 54 shares during the quarter. Apple makes up 1.4% of Capital Asset Advisory Services LLC’s holdings, making the stock its 14th biggest position. Capital Asset Advisory Services LLC’s holdings in Apple were worth $2,159,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stonehearth Capital Management LLC boosted its holdings in shares of Apple by 0.8% in the 1st quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock valued at $342,000 after buying an additional 20 shares during the last quarter. Sippican Capital Advisors boosted its holdings in shares of Apple by 0.5% in the 1st quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock valued at $706,000 after buying an additional 26 shares during the last quarter. Cordasco Financial Network boosted its holdings in shares of Apple by 1.0% in the 1st quarter. Cordasco Financial Network now owns 3,184 shares of the iPhone maker’s stock valued at $457,000 after buying an additional 31 shares during the last quarter. Lbmc Investment Advisors LLC boosted its holdings in shares of Apple by 1.1% in the 1st quarter. Lbmc Investment Advisors LLC now owns 5,386 shares of the iPhone maker’s stock valued at $774,000 after buying an additional 59 shares during the last quarter. Finally, Needelman Asset Management Inc. lifted its holdings in Apple by 1.0% during the 2nd quarter. Needelman Asset Management Inc. now owns 6,081 shares of the iPhone maker’s stock valued at $876,000 after purchasing an additional 60 shares during the last quarter. 60.35% of the stock is owned by institutional investors.
AAPL has been the subject of several research reports. Drexel Hamilton reaffirmed a “buy” rating and set a $202.00 price target on shares of Apple in a report on Thursday, July 6th. Barclays PLC reaffirmed a “hold” rating and set a $146.00 price target on shares of Apple in a report on Monday, September 4th. Instinet reaffirmed a “buy” rating and set a $165.00 price target on shares of Apple in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price target on shares of Apple in a report on Monday, September 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $194.00 price target (up previously from $182.00) on shares of Apple in a report on Tuesday, September 12th. Ten equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. Apple presently has a consensus rating of “Buy” and a consensus price target of $188.11.
Apple Inc. (NASDAQ AAPL) traded down 1.25% during mid-day trading on Thursday, hitting $154.12. The company’s stock had a trading volume of 21,554,699 shares. Apple Inc. has a 12-month low of $104.08 and a 12-month high of $164.94. The firm’s 50-day moving average is $159.51 and its 200-day moving average is $149.86. The company has a market cap of $796.07 billion, a P/E ratio of 17.50 and a beta of 1.27. Apple also was the recipient of some unusual options trading on Wednesday. Stock investors bought 174,155 put options on the stock. This represents an increase of approximately 102% compared to the average daily volume of 86,200 put options.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the 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 quarter in the prior year, the business posted $1.42 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts predict that Apple Inc. will post $9.01 EPS for the current fiscal year.
In other news, insider Johny Srouji sold 5,892 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the sale, the insider now owns 70,358 shares in the company, valued at approximately $11,327,638. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 432,930 shares of company stock valued at $69,008,577. Company insiders own 0.08% of the company’s stock.
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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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