Douglas Lane & Associates LLC increased its stake in Apple (NASDAQ:AAPL) by 2.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,658 shares of the iPhone maker’s stock after acquiring an additional 1,862 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Apple were worth $11,619,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FNY Managed Accounts LLC boosted its position in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares during the period. Private Vista LLC acquired a new stake in shares of Apple in the second quarter worth $122,000. Oak Point Wealth Management acquired a new stake in Apple during the fourth quarter valued at $163,000. Interactive Financial Advisors acquired a new stake in Apple during the fourth quarter valued at $188,000. Finally, Reaves W H & Co. Inc. acquired a new stake in Apple during the second quarter valued at $200,000. Institutional investors and hedge funds own 61.28% of the company’s stock.
AAPL has been the subject of a number of research reports. Bank of America cut Apple from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $180.00 to $220.00 in a research report on Wednesday, January 17th. Cascend Securities lifted their price objective on Apple from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Morgan Stanley reissued a “buy” rating and set a $205.00 price objective (up previously from $200.00) on shares of Apple in a research report on Tuesday, January 23rd. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of Apple in a research report on Friday, January 19th. Finally, Zacks Investment Research raised Apple from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $203.15.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.82 by $0.07. The company had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.36 earnings per share. sell-side analysts predict that Apple will post 11.3 EPS for the current year.
In other news, SVP Daniel J. Riccio sold 17,375 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $169.12, for a total value of $2,938,460.00. Following the transaction, the senior vice president now directly owns 66,191 shares of the company’s stock, valued at approximately $11,194,221.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Philip W. Schiller sold 69,491 shares of the business’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total value of $11,564,692.22. The disclosure for this sale can be found here. Insiders have sold 125,988 shares of company stock worth $21,336,201 over the last ninety days. Company insiders own 0.06% of the company’s stock.
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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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