Clean Yield Group lowered its stake in Apple Inc. (NASDAQ:AAPL) by 2.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 72,895 shares of the iPhone maker’s stock after selling 1,816 shares during the period. Apple accounts for about 4.5% of Clean Yield Group’s investment portfolio, making the stock its largest position. Clean Yield Group’s holdings in Apple were worth $10,862,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Welch Investments LLC bought a new position in shares of Apple during the fourth quarter worth approximately $146,000. Investec Asset Management LTD raised its stake in Apple by 1.1% in the fourth quarter. Investec Asset Management LTD now owns 1,023,299 shares of the iPhone maker’s stock valued at $118,518,000 after buying an additional 11,498 shares during the period. TCW Group Inc. raised its stake in Apple by 18.2% in the fourth quarter. TCW Group Inc. now owns 496,620 shares of the iPhone maker’s stock valued at $57,518,000 after buying an additional 76,401 shares during the period. McAdam LLC acquired a new stake in Apple during the fourth quarter valued at $370,000. Finally, Martingale Asset Management L P raised its stake in Apple by 10.3% in the fourth quarter. Martingale Asset Management L P now owns 440,628 shares of the iPhone maker’s stock valued at $51,034,000 after buying an additional 41,206 shares during the period. Hedge funds and other institutional investors own 61.17% of the company’s stock.
Apple Inc. (NASDAQ AAPL) traded down 0.5715% during trading on Monday, reaching $148.6456. 12,440,919 shares of the company’s stock were exchanged. The stock has a market capitalization of $775.01 billion, a price-to-earnings ratio of 17.4385 and a beta of 1.31. The company’s 50 day moving average price is $146.92 and its 200-day moving average price is $141.83. Apple Inc. has a 52 week low of $102.53 and a 52 week high of $156.65.
Apple (NASDAQ:AAPL) last posted its quarterly 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. The business 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%. On average, equities analysts expect that Apple Inc. will post $8.87 EPS for the current year.
Apple announced that its board has initiated a share buyback plan on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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Several research firms recently weighed in on AAPL. Argus reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Apple in a research note on Monday, May 15th. Hilliard Lyons raised their price objective on Apple from $147.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Canaccord Genuity reissued a “buy” rating and set a $180.00 price target (up from $165.00) on shares of Apple in a research note on Tuesday, May 16th. BMO Capital Markets reissued an “outperform” rating and set a $170.00 price target (up from $160.00) on shares of Apple in a research note on Wednesday, May 17th. Finally, Morgan Stanley reissued an “overweight” rating and set a $177.00 price target (up from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Twelve analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Apple currently has a consensus rating of “Buy” and a consensus price target of $161.67.
In related news, insider Angela J. Ahrendts sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $147.98, for a total transaction of $11,098,500.00. Following the completion of the sale, the insider now directly owns 154,116 shares in the company, valued at $22,806,085.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Luca Maestri sold 4,757 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the sale, the insider now owns 3,414 shares of the company’s stock, valued at $528,145.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 373,000 shares of company stock valued at $56,497,046. 0.08% of the stock is currently 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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