Lesa Sroufe & Co Has $305,000 Position in Apple Inc. (NASDAQ:AAPL)
Lesa Sroufe & Co continued to hold its stake in shares of Apple Inc. (NASDAQ:AAPL) during the first quarter, Holdings Channel reports. The firm owned 2,120 shares of the iPhone maker’s stock at the end of the first quarter. Lesa Sroufe & Co’s holdings in Apple were worth $305,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Apple during the fourth quarter worth $5,625,709,000. Asset Management One Co. Ltd. increased its stake 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 in the last quarter. Glenview Capital Management LLC purchased a new stake in Apple during the fourth quarter worth $365,191,000. Flinton Capital Management LLC purchased a new stake in Apple during the fourth quarter worth $169,077,000. Finally, Tyers Asset Management LLC purchased a new stake in Apple during the fourth quarter worth $139,240,000. 61.21% of the stock is owned by institutional investors and hedge funds.
Apple Inc. (AAPL) opened at 150.27 on Friday. The stock has a 50 day moving average price of $147.46 and a 200 day moving average price of $140.51. The stock has a market cap of $783.48 billion, a PE ratio of 17.63 and a beta of 1.31. Apple Inc. has a 1-year low of $96.42 and a 1-year high of $156.65.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating the consensus estimate of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The firm had revenue of $52.90 billion during the quarter, compared to analyst estimates of $52.61 billion. On average, analysts predict that Apple Inc. will post $8.91 EPS for the current fiscal year.
Apple declared that its Board of Directors has initiated a share buyback program on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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A number of research firms have recently weighed in on AAPL. UBS AG set a $151.00 target price on Apple and gave the stock a “buy” rating in a report on Tuesday, April 4th. Raymond James Financial, Inc. reissued an “outperform” rating and set a $159.00 target price (up previously from $152.00) on shares of Apple in a report on Monday, April 3rd. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $150.00 target price on shares of Apple in a report on Wednesday, April 12th. Rosenblatt Securities reissued a “neutral” rating and set a $120.00 target price on shares of Apple in a report on Monday, April 17th. Finally, FBN Securities lifted their target price on Apple from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, May 4th. Eleven investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $160.38.
In related news, insider Luca Maestri sold 4,757 shares of the firm’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 completion of the transaction, the insider now owns 3,414 shares in the company, valued at approximately $528,145.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela J. Ahrendts sold 75,000 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $147.98, for a total value of $11,098,500.00. Following the completion of the transaction, the insider now owns 154,116 shares of the company’s stock, valued at approximately $22,806,085.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 373,000 shares of company stock valued at $56,497,046. Company insiders own 0.08% of the company’s stock.
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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