Apple Inc. (AAPL) Shares Sold by Delta Capital Management LLC
Delta Capital Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,242 shares of the iPhone maker’s stock after selling 810 shares during the period. Apple accounts for about 4.1% of Delta Capital Management LLC’s investment portfolio, making the stock its largest position. Delta Capital Management LLC’s holdings in Apple were worth $5,925,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Apple during the fourth quarter worth $5,625,709,000. Asset Management One Co. Ltd. raised its stake in shares of 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 stake in shares of Apple during the fourth quarter worth $365,191,000. Canada Pension Plan Investment Board raised its stake in shares of Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock worth $1,334,527,000 after buying an additional 1,749,797 shares during the last quarter. Finally, Flinton Capital Management LLC purchased a new stake in shares of Apple during the fourth quarter worth $169,077,000. Institutional investors and hedge funds own 61.23% of the company’s stock.
Shares of Apple Inc. (AAPL) opened at 153.46 on Thursday. Apple Inc. has a 52 week low of $96.42 and a 52 week high of $156.65. The stock has a 50 day moving average of $147.21 and a 200 day moving average of $141.54. The firm has a market cap of $800.12 billion, a P/E ratio of 18.00 and a beta of 1.31.
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, topping the 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 return on equity of 35.09% and a net margin of 20.74%. Equities analysts forecast that Apple Inc. will post $8.89 earnings per share for the current year.
Apple announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 2nd that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Several brokerages recently commented on AAPL. Royal Bank Of Canada lifted their price target on shares of Apple from $157.00 to $168.00 and gave the stock an “outperform” rating in a research note on Monday, May 22nd. Rosenblatt Securities set a $120.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $170.00 price target (up from $164.00) on shares of Apple in a research note on Friday, May 12th. Cowen and Company reiterated an “outperform” rating and set a $160.00 price target on shares of Apple in a research note on Thursday, May 25th. Finally, Guggenheim reiterated a “buy” rating and set a $180.00 price target on shares of Apple in a research note on Thursday, June 1st. Twelve analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $159.22.
In other news, insider Daniel J. Riccio sold 11,949 shares of the 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 document filed with the SEC, which is available through the SEC website. Also, insider Angela J. Ahrendts sold 75,000 shares of the 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 sale, the insider now directly owns 154,116 shares in the company, valued at $22,806,085.68. The disclosure for this sale can be found here. Over the last three months, insiders have 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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