Hengehold Capital Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.5% during the first quarter, Holdings Channel reports. The firm owned 3,880 shares of the iPhone maker’s stock after selling 140 shares during the period. Hengehold Capital Management LLC’s holdings in Apple were worth $557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stonehearth Capital Management LLC boosted its position in shares of Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares during the period. Noven Financial Group Inc. boosted its position in shares of Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock worth $857,000 after buying an additional 22 shares during the period. Cordasco Financial Network boosted its position in shares of Apple by 1.0% in the first quarter. Cordasco Financial Network now owns 3,184 shares of the iPhone maker’s stock worth $457,000 after buying an additional 31 shares during the period. Wall Street Access Asset Management LLC boosted its position in shares of Apple by 0.3% in the fourth quarter. Wall Street Access Asset Management LLC now owns 18,345 shares of the iPhone maker’s stock worth $2,124,000 after buying an additional 50 shares during the period. Finally, Newman Dignan & Sheerar Inc. boosted its position in shares of Apple by 0.4% in the first quarter. Newman Dignan & Sheerar Inc. now owns 24,371 shares of the iPhone maker’s stock worth $3,501,000 after buying an additional 108 shares during the period. 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’s 50 day moving average is $150.30 and its 200-day moving average is $137.42. The firm has a market capitalization of $779.78 billion, a PE ratio of 17.55 and a beta of 1.31. Apple Inc. has a 12 month low of $96.42 and a 12 month high of $156.65.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. The company had revenue of $52.90 billion for the quarter, compared to analyst estimates of $52.61 billion. Apple had a net margin of 20.74% and a return on equity of 35.09%. On average, analysts expect that Apple Inc. will post $8.92 EPS for the current fiscal year.

Apple declared that its Board of Directors has authorized a stock buyback program on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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A number of research analysts have recently issued reports on the company. UBS AG reaffirmed a “buy” rating and set a $175.00 price objective (down from $200.00) on shares of Apple in a research note on Tuesday, March 28th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $159.00 price objective (up from $152.00) on shares of Apple in a research note on Monday, April 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $150.00 price objective on shares of Apple in a research note on Wednesday, April 12th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $120.00 price objective on shares of Apple in a research note on Monday, April 17th. Finally, FBN Securities raised their price objective on Apple from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Eleven research 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 stock. The company currently has an average rating of “Buy” and a consensus target price of $160.40.

In other news, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $153.88, for a total transaction of $5,385,800.00. Following the transaction, the director now directly owns 1,168,283 shares in the company, valued at approximately $179,775,388.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Luca Maestri sold 4,757 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the transaction, the insider now owns 3,414 shares in the company, valued at $528,145.80. 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. Insiders own 0.08% of the company’s stock.

About Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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