Atlas Brown Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.4% during the second quarter, Holdings Channel reports. The firm owned 29,521 shares of the iPhone maker’s stock after selling 1,345 shares during the period. Apple comprises approximately 3.7% of Atlas Brown Inc.’s portfolio, making the stock its 2nd largest position. Atlas Brown Inc.’s holdings in Apple were worth $4,252,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Advocacy Wealth Management Services LLC boosted its position in shares of Apple by 4.0% in the second quarter. Advocacy Wealth Management Services LLC now owns 1,337 shares of the iPhone maker’s stock valued at $193,000 after buying an additional 52 shares during the period. Main Street Research LLC boosted its position in shares of Apple by 17.4% in the second quarter. Main Street Research LLC now owns 112,069 shares of the iPhone maker’s stock valued at $16,140,000 after buying an additional 16,602 shares during the period. North Star Investment Management Corp. boosted its position in shares of Apple by 1.9% in the second quarter. North Star Investment Management Corp. now owns 97,001 shares of the iPhone maker’s stock valued at $13,970,000 after buying an additional 1,787 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Apple by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 323,400 shares of the iPhone maker’s stock valued at $46,576,000 after buying an additional 900 shares during the period. Finally, Roffman Miller Associates Inc. PA boosted its position in shares of Apple by 1.8% in the second quarter. Roffman Miller Associates Inc. PA now owns 135,988 shares of the iPhone maker’s stock valued at $19,585,000 after buying an additional 2,431 shares during the period. 61.13% of the stock is owned by hedge funds and other institutional investors.

Apple Inc. (NASDAQ AAPL) traded up 1.6528% during trading on Friday, reaching $157.8872. 15,648,760 shares of the company were exchanged. Apple Inc. has a 1-year low of $102.53 and a 1-year high of $161.83. The stock has a market capitalization of $815.52 billion, a P/E ratio of 17.9254 and a beta of 1.31. The company’s 50-day moving average price is $149.58 and its 200-day moving average price is $144.00. Apple also was the target of some unusual options trading activity on Tuesday. Stock investors purchased 139,415 put options on the company. This represents an increase of approximately 119% compared to the average volume of 63,733 put options.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same quarter in the prior year, the business posted $1.42 EPS. Apple’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post $9.02 EPS for the current year.

Apple declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 14th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a yield of 1.62%. Apple’s payout ratio is 28.64%.

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Several brokerages recently commented on AAPL. Vetr raised Apple from a “hold” rating to a “buy” rating and set a $165.48 price target for the company in a research report on Thursday. Oppenheimer Holdings, Inc. reissued a “” rating on shares of Apple in a research report on Thursday. Drexel Hamilton reissued a “buy” rating and set a $208.00 price target on shares of Apple in a research report on Wednesday. Royal Bank Of Canada reissued an “outperform” rating and set a $160.08 price target (down from $176.00) on shares of Apple in a research report on Wednesday. Finally, UBS AG restated a “buy” rating on shares of Apple in a research note on Tuesday. Twelve equities research 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 stock. The stock currently has an average rating of “Buy” and a consensus price target of $167.35.

In other Apple news, insider Craig Federighi sold 63,163 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $158.07, for a total transaction of $9,984,175.41. Following the transaction, the insider now owns 359,988 shares in the company, valued at approximately $56,903,303.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $155.27, for a total transaction of $1,855,321.23. Following the transaction, the insider now owns 23,998 shares in the company, valued at approximately $3,726,169.46. The disclosure for this sale can be found here. Insiders have sold a total of 299,911 shares of company stock worth $46,557,634 in the last 90 days. 0.08% of the stock is currently owned by company 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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