RDL Financial Inc. Invests $547,000 in Apple Inc. (AAPL)
RDL Financial Inc. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the second quarter, Holdings Channel reports. The fund purchased 5,722 shares of the iPhone maker’s stock, valued at approximately $547,000.
A number of other institutional investors also recently modified their holdings of AAPL. Zurich Insurance Group Ltd FI boosted its position in Apple by 1.4% in the first quarter. Zurich Insurance Group Ltd FI now owns 869,381 shares of the iPhone maker’s stock valued at $94,754,000 after buying an additional 11,582 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Apple by 34.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,887,600 shares of the iPhone maker’s stock worth $562,855,000 after buying an additional 1,521,440 shares in the last quarter. Roffman Miller Associates Inc. PA boosted its stake in Apple by 25.0% in the second quarter. Roffman Miller Associates Inc. PA now owns 139,953 shares of the iPhone maker’s stock worth $13,380,000 after buying an additional 28,020 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Apple by 19.1% in the second quarter. Capstone Asset Management Co. now owns 550,349 shares of the iPhone maker’s stock worth $52,613,000 after buying an additional 88,106 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Apple by 1.0% in the first quarter. Prudential Financial Inc. now owns 12,655,593 shares of the iPhone maker’s stock worth $1,379,333,000 after buying an additional 127,360 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.6327% during trading on Tuesday, hitting $116.7842. The stock had a trading volume of 38,286,936 shares. The stock has a 50-day moving average price of $110.55 and a 200 day moving average price of $103.27. Apple Inc. has a 12 month low of $89.47 and a 12 month high of $123.82. The company has a market cap of $629.28 billion, a P/E ratio of 13.6176 and a beta of 1.22.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The company earned $42.36 billion during the quarter, compared to analysts’ expectations of $42.35 billion. During the same period last year, the business posted $1.85 earnings per share. The firm’s revenue was down 14.6% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post $8.26 EPS for the current fiscal year.
A number of research firms recently issued reports on AAPL. Raymond James Financial Inc. reaffirmed a “hold” rating on shares of Apple in a research note on Saturday, July 9th. Barclays PLC reaffirmed a “buy” rating on shares of Apple in a research note on Sunday, July 17th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $150.00 target price on shares of Apple in a research note on Sunday, July 17th. Brean Capital reaffirmed a “buy” rating and issued a $125.00 target price on shares of Apple in a research note on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Apple in a research note on Thursday, August 11th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, forty-one have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $126.13.
In other Apple news, CEO Timothy D. Cook sold 334,000 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.23, for a total value of $35,814,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Riccio sold 22,381 shares of the stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $113.06, for a total value of $2,530,395.86. Following the completion of the sale, the insider now owns 47,043 shares of the company’s stock, valued at $5,318,681.58. The disclosure for this sale can be found here. 0.08% of the stock is owned by company 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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