Clean Yield Group reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,895 shares of the iPhone maker’s stock after selling 1,816 shares during the period. Apple comprises about 4.5% of Clean Yield Group’s portfolio, making the stock its largest position. Clean Yield Group’s holdings in Apple were worth $10,862,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Stonehearth Capital Management LLC boosted its position in shares of Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares during the period. Lenox Wealth Advisors Inc. boosted its position in shares of Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after buying an additional 20 shares during the period. Noven Financial Group Inc. boosted its position in shares of Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock worth $857,000 after buying an additional 22 shares during the period. Sippican Capital Advisors boosted its position in shares of Apple by 0.5% in the first quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock worth $706,000 after buying an additional 26 shares during the period. Finally, Cordasco Financial Network boosted its position in shares of Apple by 1.0% in the first quarter. Cordasco Financial Network now owns 3,184 shares of the iPhone maker’s stock worth $457,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors own 61.21% of the company’s stock.
Shares of Apple Inc. (NASDAQ AAPL) opened at 150.34 on Friday. The stock has a 50 day moving average price of $147.46 and a 200 day moving average price of $140.51. Apple Inc. has a 52 week low of $96.42 and a 52 week high of $156.65. The firm has a market cap of $783.85 billion, a PE ratio of 17.64 and a beta of 1.31.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The company had revenue of $52.90 billion during the quarter, compared to analyst estimates of $52.61 billion. Equities analysts expect that Apple Inc. will post $8.91 earnings per share for the current year.
Apple declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 2nd that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
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A number of research analysts have weighed in on the stock. Argus reaffirmed an “outperform” rating and set a $160.00 price target on shares of Apple in a research report on Monday, May 15th. Hilliard Lyons lifted their price target on shares of Apple from $147.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 price target (up from $165.00) on shares of Apple in a research report on Tuesday, May 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $170.00 price target (up from $160.00) on shares of Apple in a research report on Wednesday, May 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $177.00 price target (up from $161.00) on shares of Apple in a research report on Wednesday, May 17th. Eleven analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $160.38.
In other news, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela J. Ahrendts sold 75,000 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $147.98, for a total value of $11,098,500.00. Following the completion of the sale, the insider now directly owns 154,116 shares of the company’s stock, valued at approximately $22,806,085.68. The disclosure for this sale can be found here. In the last three months, insiders sold 373,000 shares of company stock valued at $56,497,046. 0.08% of the stock is currently owned by corporate insiders.
About Apple
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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