Apple Inc. (AAPL) Shares Sold by Pinnacle Financial Partners Inc.
Pinnacle Financial Partners Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,435 shares of the iPhone maker’s stock after selling 1,135 shares during the period. Apple comprises about 2.2% of Pinnacle Financial Partners Inc.’s investment portfolio, making the stock its 5th largest position. Pinnacle Financial Partners Inc.’s holdings in Apple were worth $9,362,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. purchased a new position in shares of Apple during the second quarter valued at approximately $143,000. River & Mercantile Asset Management LLP increased its position in shares of Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 334 shares during the period. Smith Affiliated Capital Corp. increased its position in shares of Apple by 158.0% in the second quarter. Smith Affiliated Capital Corp. now owns 1,935 shares of the iPhone maker’s stock valued at $185,000 after buying an additional 1,185 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of Apple by 5.4% in the second quarter. Capital Advisors Ltd. LLC now owns 2,088 shares of the iPhone maker’s stock valued at $200,000 after buying an additional 107 shares during the period. Finally, Stelac Advisory Services LLC increased its position in shares of Apple by 70.5% in the second quarter. Stelac Advisory Services LLC now owns 2,100 shares of the iPhone maker’s stock valued at $201,000 after buying an additional 868 shares during the period. 56.46% of the stock is owned by institutional investors and hedge funds.
Apple Inc. (NASDAQ:AAPL) traded up 0.2848% during trading on Friday, reaching $114.2144. 17,254,395 shares of the company’s stock traded hands. The company’s 50 day moving average is $110.22 and its 200-day moving average is $103.18. The stock has a market cap of $615.44 billion, a price-to-earnings ratio of 13.3179 and a beta of 1.22. Apple Inc. has a 52-week low of $89.47 and a 52-week high of $123.82.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. During the same quarter in the prior year, the business posted $1.85 EPS. The business’s revenue was down 14.6% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post $8.26 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on the stock. Raymond James Financial Inc. restated a “hold” rating on shares of Apple in a report on Saturday, July 9th. Barclays PLC restated a “buy” rating on shares of Apple in a report on Sunday, July 17th. Credit Suisse Group AG restated a “buy” rating and set a $150.00 price objective on shares of Apple in a report on Sunday, July 17th. Brean Capital restated a “buy” rating and set a $125.00 price objective on shares of Apple in a report on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Apple in a report on Thursday, August 11th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-one have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $126.13.
In other news, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the sale, the senior vice president now owns 105,839 shares in the company, valued at approximately $10,583,900. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 43,769 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $112.59, for a total transaction of $4,927,951.71. Following the completion of the sale, the chief operating officer now owns 90,657 shares of the company’s stock, valued at approximately $10,207,071.63. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by 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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