SFE Investment Counsel Has $11.51 Million Position in Apple Inc. (AAPL)
SFE Investment Counsel reduced its position in Apple Inc. (NASDAQ:AAPL) by 5.7% during the first quarter, Holdings Channel reports. The firm owned 80,111 shares of the iPhone maker’s stock after selling 4,880 shares during the period. Apple makes up 4.2% of SFE Investment Counsel’s investment portfolio, making the stock its largest position. SFE Investment Counsel’s holdings in Apple were worth $11,509,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in AAPL. Norges Bank bought a new position in Apple during the fourth quarter valued at approximately $5,625,709,000. Franklin Resources Inc. boosted its position in Apple by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 25,455,705 shares of the iPhone maker’s stock valued at $2,948,422,000 after buying an additional 1,156,639 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Apple by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,526,123 shares of the iPhone maker’s stock valued at $1,914,178,000 after buying an additional 45,124 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock valued at $1,096,072,000 after buying an additional 8,571,027 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Apple by 2.5% in the fourth quarter. AQR Capital Management LLC now owns 6,605,140 shares of the iPhone maker’s stock valued at $765,008,000 after buying an additional 161,560 shares during the last quarter. 61.21% of the stock is currently owned by institutional investors and hedge funds.
Apple Inc. (AAPL) opened at 149.04 on Monday. The company has a market cap of $777.07 billion, a PE ratio of 17.48 and a beta of 1.31. The firm’s 50-day moving average price is $150.30 and its 200 day moving average price is $137.42. Apple Inc. has a 52-week low of $96.42 and a 52-week high of $156.65.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The company had revenue of $52.90 billion for the quarter, compared to analyst estimates of $52.61 billion. On average, equities analysts predict that Apple Inc. will post $8.92 EPS for the current fiscal year.
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Several equities analysts have commented on the stock. Argus reissued an “outperform” rating and set a $160.00 target price on shares of Apple in a research note on Monday, May 15th. Hilliard Lyons raised their target price on shares of Apple from $147.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Canaccord Genuity reissued a “buy” rating and set a $180.00 target price (up previously from $165.00) on shares of Apple in a research note on Tuesday, May 16th. BMO Capital Markets reissued an “outperform” rating and set a $170.00 target price (up previously from $160.00) on shares of Apple in a research note on Wednesday, May 17th. Finally, Morgan Stanley reissued an “overweight” rating and set a $177.00 target price (up previously from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Eleven investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $160.29.
In related news, insider Luca Maestri sold 6,308 shares of the business’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $141.83, for a total transaction of $894,663.64. Following the sale, the insider now directly owns 2,665 shares in the company, valued at approximately $377,976.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Angela J. Ahrendts sold 75,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $147.98, for a total value of $11,098,500.00. Following the sale, the insider now owns 154,116 shares in the company, valued at $22,806,085.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 379,308 shares of company stock worth $57,391,709. 0.08% of the stock is currently owned by corporate insiders.
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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