Sippican Capital Advisors increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% during the first quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairview Capital Investment Management LLC boosted its position in shares of 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 purchased a new stake in Apple during the fourth quarter valued at about $5,625,709,000. Perigon Wealth Management LLC raised its stake 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 period. IFM Investors Pty Ltd purchased a new stake in Apple during the fourth quarter valued at about $7,910,000. Finally, RB Capital Management LLC purchased a new stake in Apple during the fourth quarter valued at about $5,793,000. Institutional investors own 61.17% of the company’s stock.
Shares of Apple Inc. (AAPL) opened at 149.50 on Monday. Apple Inc. has a 1-year low of $102.53 and a 1-year high of $156.65. The firm’s 50-day moving average price is $146.92 and its 200 day moving average price is $141.83. The firm has a market cap of $779.47 billion, a PE ratio of 17.54 and a beta of 1.31.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) 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 firm had revenue of $52.90 billion for the quarter, compared to analyst estimates of $52.61 billion. On average, equities research analysts forecast that Apple Inc. will post $8.87 EPS for the current fiscal year.
Apple declared that its Board of Directors has authorized a stock 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 repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
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AAPL has been the topic of several research analyst reports. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $159.00 price objective (up from $152.00) on shares of Apple in a research report on Monday, April 3rd. UBS AG set a $151.00 price objective on shares of Apple and gave the company a “buy” rating in a research report on Tuesday, April 4th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $150.00 price target on shares of Apple in a research report on Wednesday, April 12th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $120.00 price target on shares of Apple in a research report on Monday, April 17th. Finally, FBN Securities raised their price target on shares of Apple from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. Twelve equities research 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 company. Apple has an average rating of “Buy” and an average price target of $161.67.
In related news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction that occurred on 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 SEC, which is accessible through this hyperlink. Also, insider Luca Maestri sold 4,757 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the transaction, 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. In the last ninety days, insiders sold 373,000 shares of company stock worth $56,497,046. 0.08% of the stock is 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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