Apple Inc. (AAPL) Position Increased by Dearborn Partners LLC
Dearborn Partners LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.3% during the second quarter, Holdings Channel reports. The institutional investor owned 209,568 shares of the iPhone maker’s stock after buying an additional 10,572 shares during the period. Apple accounts for approximately 1.7% of Dearborn Partners LLC’s portfolio, making the stock its 18th largest position. Dearborn Partners LLC’s holdings in Apple were worth $20,035,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the stock. River & Mercantile Asset Management LLP increased its stake 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 stake 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 stake 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. Hutchinson Capital Management CA purchased a new stake in shares of Apple during the first quarter valued at approximately $229,000. Finally, Acrospire Investment Management LLC purchased a new stake in shares of Apple during the first quarter valued at approximately $240,000. 56.46% of the stock is owned by institutional investors and hedge funds.
Apple Inc. (NASDAQ:AAPL) traded up 0.15% during mid-day trading on Friday, reaching $114.06. The company had a trading volume of 24,358,443 shares. The firm has a 50-day moving average of $110.36 and a 200 day moving average of $103.24. Apple Inc. has a 1-year low of $89.47 and a 1-year high of $123.82. The company has a market capitalization of $614.61 billion, a PE ratio of 13.30 and a beta of 1.22.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The firm had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. During the same quarter last year, the company earned $1.85 earnings per share. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post $8.26 earnings per share for the current fiscal year.
Several brokerages recently commented on AAPL. Raymond James Financial Inc. restated a “hold” rating on shares of Apple in a research report on Saturday, July 9th. Barclays PLC restated a “buy” rating on shares of Apple in a research report on Sunday, July 17th. Credit Suisse Group AG restated a “buy” rating and issued a $150.00 price target on shares of Apple in a research report on Sunday, July 17th. Brean Capital restated a “buy” rating and issued a $125.00 price target on shares of Apple in a research report on Wednesday, June 15th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $117.00 target price (up previously from $115.00) on shares of Apple in a research report on Thursday, August 11th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, forty-one have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $126.13.
In other news, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $100.00, for a total value of $2,500,000.00. Following the transaction, the senior vice president now owns 105,839 shares of the company’s stock, valued at $10,583,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Angela J. Ahrendts sold 35,797 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $100.00, for a total value of $3,579,700.00. Following the completion of the transaction, the senior vice president now directly owns 105,839 shares in the company, valued at approximately $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.
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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