Apple Inc. (AAPL) Position Boosted by Mcrae Capital Management Inc.
Mcrae Capital Management Inc. increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,576 shares of the iPhone maker’s stock after buying an additional 1,011 shares during the period. Apple accounts for 1.4% of Mcrae Capital Management Inc.’s holdings, making the stock its 27th largest position. Mcrae Capital Management Inc.’s holdings in Apple were worth $3,019,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Hussman Strategic Advisors Inc. acquired a new stake in shares of Apple during the second quarter valued at about $143,000. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, Stelac Advisory Services LLC increased its stake 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 in the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up 0.33% during midday trading on Friday, hitting $117.37. 17,931,276 shares of the company were exchanged. The stock has a 50 day moving average of $111.28 and a 200-day moving average of $103.56. The stock has a market capitalization of $632.44 billion, a price-to-earnings ratio of 13.69 and a beta of 1.22. Apple Inc. has a 1-year low of $89.47 and a 1-year 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 for the quarter, beating the Zacks’ 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 the consensus estimate of $42.35 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities analysts expect that Apple Inc. will post $8.26 earnings per share for the current year.
AAPL has been the subject of several research analyst reports. JPMorgan Chase & Co. set a $105.00 price objective on Apple and gave the stock a “buy” rating in a research note on Thursday, June 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $115.00 price objective (down from $120.00) on shares of Apple in a research note on Friday, June 17th. Piper Jaffray Cos. reissued a “buy” rating on shares of Apple in a research note on Friday, June 17th. BMO Capital Markets reaffirmed a “buy” rating and set a $118.00 price target on shares of Apple in a research note on Friday, June 17th. Finally, Vetr raised Apple from a “buy” rating to a “strong-buy” rating and set a $107.09 price target for the company in a research note on Monday, June 20th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, forty-three have given a buy rating and two have assigned a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus target price of $126.74.
In other Apple news, CEO Timothy D. Cook sold 334,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $107.23, for a total transaction of $35,814,820.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $100.00, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
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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