Sippican Capital Advisors boosted its stake in Apple Inc. (NASDAQ:AAPL) by 0.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,912 shares of the iPhone maker’s stock after buying an additional 26 shares during the period. Sippican Capital Advisors’ holdings in Apple were worth $706,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Glacier Peak Capital LLC bought a new stake in Apple during the fourth quarter valued at approximately $127,000. Welch Investments LLC bought a new stake in Apple during the fourth quarter valued at approximately $146,000. Odey Holdings AG increased its stake in Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock valued at $147,000 after buying an additional 273 shares during the period. Portfolio Solutions LLC bought a new stake in Apple during the first quarter valued at approximately $169,000. Finally, Fox Run Management L.L.C. bought a new stake in Apple during the first quarter valued at approximately $201,000. 61.21% of the stock is currently owned by institutional investors.
Shares of Apple Inc. (AAPL) opened at 150.34 on Friday. The stock has a 50 day moving average of $147.46 and a 200-day moving average of $140.51. Apple Inc. has a 12 month low of $96.42 and a 12 month high of $156.65. The company has a market cap of $783.85 billion, a PE ratio of 17.64 and a beta of 1.31.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping the consensus estimate of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The business had revenue of $52.90 billion during the quarter, compared to the consensus estimate of $52.61 billion. Equities analysts forecast that Apple Inc. will post $8.91 earnings per share for the current year.
Apple announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 2nd that allows the company to buyback $50.00 billion in 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 generally an indication that the company’s management believes its stock is undervalued.
AAPL has been the topic of several analyst reports. Nomura reissued a “buy” rating and issued a $135.00 target price on shares of Apple in a report on Thursday, March 23rd. Instinet boosted their target price on Apple from $135.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, March 24th. Royal Bank Of Canada reissued an “outperform” rating and issued a $155.00 target price on shares of Apple in a report on Friday, March 24th. Needham & Company LLC downgraded Apple from a “strong-buy” rating to a “buy” rating and boosted their target price for the stock from $150.00 to $165.00 in a report on Friday, March 24th. Finally, Vetr raised Apple from a “hold” rating to a “buy” rating and set a $146.43 target price on the stock in a report on Monday, March 27th. Eleven investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Apple presently has a consensus rating of “Buy” and an average target price of $160.38.
In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the firm’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Angela J. Ahrendts sold 75,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $147.98, for a total value of $11,098,500.00. Following the completion of the transaction, the insider now 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 90 days, insiders sold 373,000 shares of company stock valued at $56,497,046. 0.08% of the stock is owned by corporate insiders.
Apple Company Profile
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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