Apple Inc. (NASDAQ:AAPL) is Boys Arnold & Co. Inc.’s 4th Largest Position
Boys Arnold & Co. Inc. boosted its position in Apple Inc. (NASDAQ:AAPL) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,463 shares of the iPhone maker’s stock after buying an additional 4,886 shares during the period. Apple comprises about 2.4% of Boys Arnold & Co. Inc.’s holdings, making the stock its 4th largest position. Boys Arnold & Co. Inc.’s holdings in Apple were worth $15,294,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Apple during the fourth quarter worth about $5,625,709,000. Asset Management One Co. Ltd. raised 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 worth $1,096,072,000 after buying an additional 8,571,027 shares during the last quarter. Glenview Capital Management LLC purchased a new position in Apple during the fourth quarter worth about $365,191,000. Flinton Capital Management LLC purchased a new position in Apple during the fourth quarter worth about $169,077,000. Finally, Tyers Asset Management LLC purchased a new position in Apple during the fourth quarter worth about $139,240,000. 61.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Apple Inc. (NASDAQ AAPL) opened at 149.56 on Tuesday. The firm has a 50 day moving average price of $150.30 and a 200-day moving average price of $137.42. The firm has a market cap of $779.78 billion, a P/E ratio of 17.55 and a beta of 1.31. Apple Inc. has a one year low of $96.42 and a one year high of $156.65.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. The business had revenue of $52.90 billion for the quarter, compared to analysts’ expectations of $52.61 billion. Apple had a return on equity of 35.09% and a net margin of 20.74%. Analysts forecast that Apple Inc. will post $8.92 earnings per share for the current year.
Apple declared that its board has approved a share buyback plan on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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AAPL has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their target price on Apple from $157.00 to $168.00 and gave the stock an “outperform” rating in a report on Monday, May 22nd. Rosenblatt Securities set a $120.00 target price on Apple and gave the stock a “hold” rating in a report on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $170.00 target price (up from $164.00) on shares of Apple in a report on Friday, May 12th. Vetr raised Apple from a “hold” rating to a “buy” rating and set a $146.43 target price on the stock in a report on Monday, March 27th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $160.00 target price on shares of Apple in a report on Thursday, May 25th. Eleven research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $160.40.
In related news, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $155.32, for a total value of $1,855,918.68. Following the transaction, the insider now owns 13,049 shares of the company’s stock, valued at $2,026,770.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Luca Maestri sold 4,757 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the transaction, the insider now directly owns 3,414 shares in the company, valued at approximately $528,145.80. The disclosure for this sale can be found here. In the last three months, insiders sold 379,308 shares of company stock worth $57,391,709. 0.08% of the stock is owned by 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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