Taylor Wealth Management Partners Sells 1,786 Shares of Apple Inc. (NASDAQ:AAPL)
Taylor Wealth Management Partners decreased its position in Apple Inc. (NASDAQ:AAPL) by 3.1% during the first quarter, Holdings Channel reports. The firm owned 56,314 shares of the iPhone maker’s stock after selling 1,786 shares during the period. Apple makes up 3.7% of Taylor Wealth Management Partners’ holdings, making the stock its 9th largest position. Taylor Wealth Management Partners’ holdings in Apple were worth $8,090,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. CWA Asset Management Group LLC boosted its position in shares of Apple by 10.7% in the fourth quarter. CWA Asset Management Group LLC now owns 71,110 shares of the iPhone maker’s stock worth $8,236,000 after buying an additional 6,852 shares during the period. Hunter Associates Investment Management LLC boosted its position in shares of Apple by 2.1% in the fourth quarter. Hunter Associates Investment Management LLC now owns 46,827 shares of the iPhone maker’s stock worth $5,423,000 after buying an additional 965 shares during the period. WS Management Lllp acquired a new position in shares of Apple during the fourth quarter worth $11,489,000. RBO & Co. LLC boosted its position in shares of Apple by 0.4% in the fourth quarter. RBO & Co. LLC now owns 86,670 shares of the iPhone maker’s stock worth $10,038,000 after buying an additional 335 shares during the period. Finally, Glenview Trust Co acquired a new position in shares of Apple during the fourth quarter worth $26,019,000. 61.21% of the stock is owned by institutional investors and hedge funds.
Apple Inc. (AAPL) opened at 150.34 on Friday. The firm’s 50-day moving average price is $147.46 and its 200 day moving average price is $140.51. Apple Inc. has a 12-month low of $96.42 and a 12-month high of $156.65. The stock has a market capitalization of $783.85 billion, a P/E ratio of 17.64 and a beta of 1.31.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping 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 analysts’ expectations of $52.61 billion. On average, equities analysts anticipate that Apple Inc. will post $8.91 EPS for the current year.
Apple announced that its board has authorized a share repurchase 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 reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
AAPL has been the subject of several recent analyst reports. UBS AG lifted their target price on shares of Apple from $165.00 to $200.00 in a research note on Sunday, April 2nd. Instinet lifted their target price on shares of Apple from $135.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, March 24th. Nomura reaffirmed a “buy” rating and issued a $135.00 target price on shares of Apple in a research note on Thursday, March 23rd. Vetr raised shares of Apple from a “hold” rating to a “buy” rating and set a $146.43 target price for the company in a research note on Monday, March 27th. Finally, Needham & Company LLC cut shares of Apple from a “strong-buy” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $165.00 in a research note on Friday, March 24th. Eleven analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $160.38.
In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Luca Maestri sold 4,757 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total value 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. Insiders have sold 373,000 shares of company stock worth $56,497,046 over the last 90 days. 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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