Exane Derivatives Has $4.63 Million Stake in Apple Inc. (NASDAQ:AAPL)
Exane Derivatives cut its position in Apple Inc. (NASDAQ:AAPL) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 32,158 shares of the iPhone maker’s stock after selling 161 shares during the period. Apple makes up about 1.0% of Exane Derivatives’ portfolio, making the stock its 17th largest position. Exane Derivatives’ holdings in Apple were worth $4,631,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. 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 last quarter. 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 last quarter. Twin Focus Capital Partners LLC boosted its position in shares of Apple by 245.5% in the fourth quarter. Twin Focus Capital Partners LLC now owns 13,818 shares of the iPhone maker’s stock worth $1,600,000 after buying an additional 9,818 shares during the last quarter. GFI Investment Counsel Ltd. purchased a new position in shares of Apple during the fourth quarter worth approximately $817,000. Finally, Hemenway Trust Co LLC boosted its position in shares of Apple by 0.3% in the fourth quarter. Hemenway Trust Co LLC now owns 124,252 shares of the iPhone maker’s stock worth $14,391,000 after buying an additional 337 shares during the last quarter. 61.23% of the stock is owned by institutional investors.
Apple Inc. (NASDAQ AAPL) opened at 152.74 on Wednesday. Apple Inc. has a 12-month low of $96.42 and a 12-month high of $156.65. The company has a market cap of $796.36 billion, a P/E ratio of 17.92 and a beta of 1.31. The stock’s 50 day moving average is $147.28 and its 200-day moving average is $141.20.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. The business 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%. Analysts predict that Apple Inc. will post $8.89 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has approved a share buyback program on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of equities analysts have commented on AAPL shares. FBR & Co reissued an “outperform” rating and set a $155.00 target price on shares of Apple in a report on Tuesday, March 28th. UBS AG reaffirmed a “buy” rating and issued a $175.00 price target (down previously from $200.00) on shares of Apple in a report on Tuesday, March 28th. Vetr cut Apple from a “buy” rating to a “hold” rating and set a $147.61 price target for the company. in a report on Tuesday, March 28th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $120.00 price target on shares of Apple in a report on Wednesday, March 29th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $185.00 price target on shares of Apple in a report on Thursday, March 30th. Eleven equities research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. Apple has an average rating of “Buy” and an average target price of $159.22.
In other news, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Luca Maestri sold 4,757 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the completion of the sale, 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 373,000 shares of company stock worth $56,497,046. 0.08% of the stock is currently owned by 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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