Foster & Motley Inc. Cuts Stake in Apple Inc. (AAPL)
Foster & Motley Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 93,170 shares of the iPhone maker’s stock after selling 1,173 shares during the period. Apple comprises approximately 1.8% of Foster & Motley Inc.’s portfolio, making the stock its 9th largest position. Foster & Motley Inc.’s holdings in Apple were worth $8,907,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Hussman Strategic Advisors Inc. acquired a new position in Apple during the second quarter valued at approximately $143,000. River & Mercantile Asset Management LLP boosted its position in 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. boosted its position in 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 boosted its position in 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 boosted its position in 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. Institutional investors own 56.46% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 1.968% during midday trading on Monday, reaching $116.305. 21,642,448 shares of the company’s stock were exchanged. The company has a market cap of $626.70 billion, a price-to-earnings ratio of 13.562 and a beta of 1.22. The firm has a 50-day moving average price of $110.36 and a 200 day moving average price of $103.24. Apple Inc. has a 12-month low of $89.47 and a 12-month high of $123.82.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating the 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 business earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. During the same period in the previous year, the business posted $1.85 earnings per share. Apple’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, analysts expect that Apple Inc. will post $8.26 EPS for the current fiscal year.
Several analysts have issued reports on the company. Piper Jaffray Cos. restated an “overweight” rating and set a $153.00 price objective on shares of Apple in a research note on Tuesday, July 26th. Credit Suisse Group AG restated an “outperform” rating and set a $150.00 price objective on shares of Apple in a research note on Thursday, September 15th. Citigroup Inc. upped their price objective on Apple from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, September 30th. Needham & Company LLC restated a “buy” rating and set a $150.00 price objective on shares of Apple in a research note on Wednesday, July 20th. Finally, Vetr cut Apple from a “hold” rating to a “sell” rating and set a $105.47 price objective on the stock. in a research note on Monday, August 15th. Four research 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 stock. The stock has a consensus rating of “Buy” and an average target price of $126.13.
In other news, SVP Angela J. Ahrendts sold 35,797 shares of the business’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $100.00, for a total value of $3,579,700.00. Following the completion of the sale, the senior vice president now directly owns 105,839 shares in the company, valued at approximately $10,583,900. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 105,839 shares of the company’s stock, valued at $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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