British Airways Pensions Investment Management Ltd reduced its position in Apple Inc. (NASDAQ:AAPL) by 2.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,027,055 shares of the iPhone maker’s stock after selling 30,897 shares during the period. Apple makes up about 4.4% of British Airways Pensions Investment Management Ltd’s portfolio, making the stock its largest position. British Airways Pensions Investment Management Ltd’s holdings in Apple were worth $147,470,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of AAPL. Fairview Capital Investment Management LLC raised its stake 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 worth $1,561,000 after buying an additional 350 shares during the period. Adviser Investments LLC bought a new stake in Apple during the fourth quarter worth approximately $396,000. Greytown Advisors Inc. bought a new stake in Apple during the fourth quarter worth approximately $581,000. Stellar Capital Management LLC bought a new stake in Apple during the fourth quarter worth approximately $587,000. Finally, Asset Management One Co. Ltd. raised its stake in Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock worth $1,096,072,000 after buying an additional 8,571,027 shares during the period. 61.23% of the stock is owned by institutional investors and hedge funds.
Apple Inc. (AAPL) opened at 149.50 on Friday. The company has a market cap 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 12-month low of $102.53 and a 12-month high of $156.65.
Apple (NASDAQ:AAPL) last released its quarterly earnings data 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. The company had revenue of $52.90 billion during the quarter, compared to analysts’ expectations of $52.61 billion. Apple had a net margin of 20.74% and a return on equity of 35.09%. Equities research analysts anticipate that Apple Inc. will post $8.87 EPS for the current fiscal year.
Apple announced that its board has approved a share repurchase program on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
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A number of equities research analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $165.00 price target on shares of Apple in a research report on Thursday. Mizuho reiterated a “neutral” rating and issued a $150.00 price target on shares of Apple in a research report on Wednesday. Stifel Nicolaus reiterated a “hold” rating and issued a $150.00 price target on shares of Apple in a research report on Tuesday, July 25th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $170.00 price target (up previously from $160.00) on shares of Apple in a research report on Tuesday, July 25th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $170.00 price target on shares of Apple in a research report on Tuesday, July 25th. Twelve equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $161.67.
In other news, insider Luca Maestri sold 4,757 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $154.70, for a total transaction of $735,907.90. Following the completion of the sale, the insider now owns 3,414 shares of the company’s stock, valued at $528,145.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $1,707,034.14. The disclosure for this sale can be found here. Insiders have sold 373,000 shares of company stock valued at $56,497,046 in the last three months. Corporate insiders own 0.08% of the company’s stock.
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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