Apple Inc. (AAPL) Position Increased by Manitou Investment Management Ltd.
Manitou Investment Management Ltd. increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 21.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 192,981 shares of the iPhone maker’s stock after buying an additional 34,050 shares during the period. Apple makes up 5.9% of Manitou Investment Management Ltd.’s portfolio, making the stock its 3rd largest position. Manitou Investment Management Ltd.’s holdings in Apple were worth $18,449,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in AAPL. Investment Counsel Inc. acquired a new position in shares of Apple during the fourth quarter worth $3,014,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Apple during the fourth quarter worth $6,485,000. Deschutes Portfolio Strategy LLC acquired a new position in shares of Apple during the fourth quarter worth $3,535,000. TRUE Private Wealth Advisors acquired a new position in shares of Apple during the fourth quarter worth $3,082,000. Finally, Norges Bank acquired a new position in shares of Apple during the fourth quarter worth $5,068,068,000. Hedge funds and other institutional investors own 56.52% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded down 0.01% during midday trading on Tuesday, hitting $113.57. The stock had a trading volume of 34,511,895 shares. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $123.82. The stock’s 50 day moving average price is $108.13 and its 200-day moving average price is $102.24. The company has a market cap of $611.97 billion, a PE ratio of 13.24 and a beta of 1.14.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The firm earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 EPS. Equities research analysts predict that Apple Inc. will post $8.26 earnings per share for the current year.
A number of research analysts have weighed in on AAPL shares. Drexel Hamilton reissued a “buy” rating and set a $185.00 price target on shares of Apple in a research note on Wednesday, September 14th. Piper Jaffray Cos. raised Apple to an “overweight” rating and set a $151.00 price target on the stock in a research note on Friday. Canaccord Genuity reissued a “buy” rating and set a $140.00 price target (up previously from $120.00) on shares of Apple in a research note on Monday, September 12th. Mizuho reissued a “buy” rating and set a $120.00 price target on shares of Apple in a research note on Thursday, September 1st. Finally, Wells Fargo & Co. reissued a “market perform” rating on shares of Apple in a research note on Friday, September 9th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, forty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Apple has a consensus rating of “Buy” and a consensus target price of $126.34.
In other Apple news, SVP D Bruce Sewell sold 24,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $110.11, for a total transaction of $2,642,640.00. Following the completion of the transaction, the senior vice president now owns 192,024 shares of the company’s stock, valued at approximately $21,143,762.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the transaction, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
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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