Apple Inc. (AAPL) Stake Increased by ING Groep NV
ING Groep NV grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,080,230 shares of the iPhone maker’s stock after purchasing an additional 73,406 shares during the period. Apple makes up about 5.7% of ING Groep NV’s portfolio, making the stock its 4th biggest holding. ING Groep NV’s holdings in Apple were worth $299,595,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Saratoga Research & Investment Management lifted its holdings in shares of Apple by 0.6% during the 1st quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock valued at $95,840,000 after purchasing an additional 4,137 shares during the last quarter. Pinnacle Bank acquired a new position in shares of Apple in the 1st quarter valued at $1,924,000. Green Square Capital LLC increased its position in shares of Apple by 6.7% in the 1st quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock valued at $12,564,000 after acquiring an additional 5,491 shares during the period. Headinvest LLC increased its position in shares of Apple by 2.5% in the 2nd quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock valued at $2,347,000 after acquiring an additional 390 shares during the period. Finally, Nicolet Bankshares Inc. increased its position in shares of Apple by 3.1% in the 1st quarter. Nicolet Bankshares Inc. now owns 27,684 shares of the iPhone maker’s stock valued at $3,977,000 after acquiring an additional 844 shares during the period. Hedge funds and other institutional investors own 60.33% of the company’s stock.
In other news, SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total value of $1,698,071.80. Following the transaction, the senior vice president now directly owns 76,250 shares of the company’s stock, valued at $12,367,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 6,209 shares of Apple stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $161.96, for a total transaction of $1,005,609.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 541,177 shares of company stock worth $85,864,804. 0.08% of the stock is currently owned by insiders.
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Shares of Apple Inc. (NASDAQ:AAPL) traded up 1.60% during trading on Monday, hitting $159.50. 15,026,977 shares of the company traded hands. The stock has a market cap of $823.85 billion, a price-to-earnings ratio of 18.11 and a beta of 1.27. Apple Inc. has a one year low of $104.08 and a one year high of $164.94. The firm has a 50 day moving average price of $157.58 and a 200-day moving average price of $151.69.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.42 earnings per share. Analysts predict that Apple Inc. will post $9.01 EPS for the current year.
AAPL has been the topic of several research reports. Morgan Stanley upped their target price on Apple from $177.00 to $182.00 and gave the company an “overweight” rating in a research report on Monday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $175.00 target price (up from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Cleveland Research raised Apple from a “neutral” rating to a “buy” rating and set a $197.00 target price on the stock in a research report on Tuesday, August 29th. Bank of America Corporation reissued a “buy” rating and issued a $180.00 target price (up from $175.00) on shares of Apple in a research report on Wednesday, August 2nd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $180.00 target price on shares of Apple in a research report on Monday, July 10th. Seven equities research analysts have rated the stock with a hold rating and forty-seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $190.46.
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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