Sentinel Trust Co. LBA lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,041 shares of the iPhone maker’s stock after selling 2,183 shares during the period. Apple comprises about 1.3% of Sentinel Trust Co. LBA’s investment portfolio, making the stock its 7th largest position. Sentinel Trust Co. LBA’s holdings in Apple were worth $8,195,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Fairview Capital Investment Management LLC raised its position in Apple by 2.7% in the fourth quarter. Fairview Capital Investment Management LLC now owns 13,481 shares of the iPhone maker’s stock valued at $1,561,000 after buying an additional 350 shares during the last quarter. Norges Bank acquired a new position in Apple during the fourth quarter valued at $5,625,709,000. Perigon Wealth Management LLC raised its position in Apple by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock valued at $20,613,000 after buying an additional 8,233 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in Apple during the fourth quarter valued at $7,910,000. Finally, RB Capital Management LLC acquired a new position in Apple during the fourth quarter valued at $5,793,000. Institutional investors and hedge funds own 61.23% of the company’s stock.
Shares of Apple Inc. (NASDAQ AAPL) opened at 149.50 on Friday. The firm has a market capitalization of $779.47 billion, a P/E ratio of 17.54 and a beta of 1.31. The firm’s 50-day moving average is $146.92 and its 200 day moving average is $141.83. Apple Inc. has a one year low of $96.42 and a one year high of $156.65.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.08. The firm had revenue of $52.90 billion for the quarter, compared to analysts’ expectations of $52.61 billion. Apple had a return on equity of 35.09% and a net margin of 20.74%. Equities research analysts predict that Apple Inc. will post $8.87 earnings per share for the current year.
Apple declared that its board has initiated a share repurchase program on Tuesday, May 2nd that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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AAPL has been the topic of several recent research reports. UBS AG lifted their target price on shares of Apple from $165.00 to $200.00 in a report on Sunday, April 2nd. Bank of America Corporation restated a “buy” rating and set a $180.00 target price (up previously from $155.00) on shares of Apple in a report on Friday, May 12th. Wells Fargo & Company restated a “market perform” rating and set a $140.00 target price on shares of Apple in a report on Saturday, July 22nd. Mizuho restated a “buy” rating and set a $150.00 target price on shares of Apple in a report on Wednesday, May 3rd. Finally, Goldman Sachs Group, Inc. (The) set a $170.00 target price on shares of Apple and gave the company a “buy” rating in a report on Saturday, May 20th. Twelve analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. Apple has an average rating of “Buy” and a consensus price target of $161.67.
In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Luca Maestri sold 4,757 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total value of $735,907.90. Following the transaction, the insider now owns 3,414 shares in the company, valued at $528,145.80. The disclosure for this sale can be found here. Insiders have sold a total of 373,000 shares of company stock worth $56,497,046 over the last 90 days. Company insiders own 0.08% of the company’s stock.
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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