Apple Inc. (AAPL) Shares Sold by Welch & Forbes LLC
Welch & Forbes LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 600,320 shares of the iPhone maker’s stock after selling 4,907 shares during the period. Apple accounts for 1.7% of Welch & Forbes LLC’s investment portfolio, making the stock its 10th largest position. Welch & Forbes LLC’s holdings in Apple were worth $57,391,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Hussman Strategic Advisors Inc. purchased a new position in Apple during the second quarter valued at $143,000. River & Mercantile Asset Management LLP boosted its stake 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 in the last quarter. Smith Affiliated Capital Corp. boosted its stake 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 in the last quarter. Capital Advisors Ltd. LLC boosted its stake 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 in the last quarter. Finally, Stelac Advisory Services LLC boosted its stake 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 in the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 0.64% during trading on Tuesday, reaching $116.79. 38,282,970 shares of the company’s stock traded hands. The company’s 50 day moving average is $110.55 and its 200-day moving average is $103.27. Apple Inc. has a 52-week low of $89.47 and a 52-week high of $123.82. The stock has a market cap of $629.32 billion, a price-to-earnings ratio of 13.62 and a beta of 1.22.
Apple (NASDAQ:AAPL) last issued its quarterly 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 company had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 EPS. On average, analysts anticipate that Apple Inc. will post $8.26 earnings per share for the current fiscal year.
Several research firms recently commented on AAPL. Raymond James Financial Inc. reaffirmed a “hold” rating on shares of Apple in a report on Saturday, July 9th. Barclays PLC reaffirmed a “buy” rating on shares of Apple in a report on Sunday, July 17th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $150.00 price target on shares of Apple in a report on Sunday, July 17th. Brean Capital reaffirmed a “buy” rating and issued a $125.00 price target on shares of Apple in a report on Wednesday, June 15th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $117.00 price target (up previously from $115.00) on shares of Apple in a report on Thursday, August 11th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-one have issued a buy rating and two have given a strong buy rating to the company. Apple has an average rating of “Buy” and an average price target of $126.13.
In related news, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 334,000 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $35,814,820.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate 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.
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.