Charter Trust Co. Sells 2,568 Shares of Apple Inc. (AAPL)
Charter Trust Co. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,039 shares of the iPhone maker’s stock after selling 2,568 shares during the period. Apple comprises 1.2% of Charter Trust Co.’s portfolio, making the stock its 21st largest position. Charter Trust Co.’s holdings in Apple were worth $10,231,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Saratoga Research & Investment Management lifted its position in shares of Apple by 0.6% during the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after purchasing an additional 4,137 shares in the last quarter. Pinnacle Bank acquired a new position in shares of Apple during the first quarter worth $1,924,000. Green Square Capital LLC lifted its position in shares of Apple by 6.7% during the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after purchasing an additional 5,491 shares in the last quarter. Nicolet Bankshares Inc. lifted its position in shares of Apple by 3.1% during the first quarter. Nicolet Bankshares Inc. now owns 27,684 shares of the iPhone maker’s stock worth $3,977,000 after purchasing an additional 844 shares in the last quarter. Finally, Stokes & Hubbell Capital Management LLC lifted its position in shares of Apple by 1.7% during the first quarter. Stokes & Hubbell Capital Management LLC now owns 47,483 shares of the iPhone maker’s stock worth $6,821,000 after purchasing an additional 778 shares in the last quarter. 60.35% of the stock is currently owned by institutional investors and hedge funds.
Apple Inc. (AAPL) traded down 0.98% during mid-day trading on Friday, reaching $151.89. The company’s stock had a trading volume of 46,645,443 shares. The firm has a market cap of $784.55 billion, a PE ratio of 17.24 and a beta of 1.27. Apple Inc. has a 12-month low of $104.08 and a 12-month high of $164.94. The company has a 50-day moving average price of $159.51 and a 200-day moving average price of $149.86.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 EPS. On average, equities research analysts expect that Apple Inc. will post $9.01 earnings per share for the current year.
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In other news, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Johny Srouji sold 5,892 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $161.00, for a total value of $948,612.00. Following the transaction, the insider now directly owns 70,358 shares in the company, valued at $11,327,638. The disclosure for this sale can be found here. Insiders have sold a total of 432,930 shares of company stock worth $69,008,577 over the last three months. Insiders own 0.08% of the company’s stock.
A number of research analysts have recently commented on the stock. UBS AG reissued a “buy” rating and set a $170.00 target price on shares of Apple in a research report on Wednesday, May 31st. Royal Bank Of Canada reissued an “outperform” rating and set a $160.08 target price (down from $176.00) on shares of Apple in a research report on Wednesday, August 9th. Rosenblatt Securities reissued a “neutral” rating and set a $150.00 target price on shares of Apple in a research report on Thursday. Mizuho reissued a “hold” rating and set a $150.00 target price on shares of Apple in a research report on Monday, September 18th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $180.00 price target on shares of Apple in a report on Saturday, September 16th. Ten research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $188.37.
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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