Naples Global Advisors LLC Trims Position in Apple Inc. (AAPL)
Naples Global Advisors LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,110 shares of the iPhone maker’s stock after selling 11 shares during the period. Apple comprises approximately 1.8% of Naples Global Advisors LLC’s holdings, making the stock its 4th largest holding. Naples Global Advisors LLC’s holdings in Apple were worth $5,201,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in AAPL. Univest Corp of Pennsylvania increased its holdings in Apple by 2.3% during the 1st quarter. Univest Corp of Pennsylvania now owns 33,344 shares of the iPhone maker’s stock valued at $4,790,000 after purchasing an additional 739 shares during the period. P.R. Herzig & Co. Inc. increased its holdings in Apple by 2.7% during the 1st quarter. P.R. Herzig & Co. Inc. now owns 11,375 shares of the iPhone maker’s stock valued at $1,634,000 after purchasing an additional 300 shares during the period. Pennsylvania Trust Co increased its holdings in Apple by 1.2% during the 1st quarter. Pennsylvania Trust Co now owns 233,400 shares of the iPhone maker’s stock valued at $33,530,000 after purchasing an additional 2,684 shares during the period. Portfolio Solutions LLC purchased a new position in Apple during the 1st quarter valued at about $169,000. Finally, CrestPoint Capital Management LLC increased its holdings in Apple by 4.1% during the 1st quarter. CrestPoint Capital Management LLC now owns 33,300 shares of the iPhone maker’s stock valued at $4,784,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 60.33% of the company’s stock.
Apple Inc. (AAPL) traded down 0.19% during midday trading on Wednesday, reaching $160.16. 8,603,455 shares of the company’s stock were exchanged. The firm has a market capitalization of $827.26 billion, a P/E ratio of 18.18 and a beta of 1.27. Apple Inc. has a 52 week low of $104.08 and a 52 week high of $164.94. The stock’s 50 day moving average is $157.58 and its 200 day moving average is $151.69.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $44.94 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts expect that Apple Inc. will post $9.01 EPS for the current fiscal year.
A number of research analysts recently issued reports on AAPL shares. Oppenheimer Holdings, Inc. restated a “” rating on shares of Apple in a report on Thursday, August 10th. UBS AG restated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Friday, June 23rd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Wednesday, June 21st. Canaccord Genuity restated a “buy” rating and set a $180.00 price target on shares of Apple in a report on Monday, July 10th. Finally, Credit Suisse Group restated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Sunday, July 9th. Seven investment analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $190.46.
In other news, insider Philip W. Schiller sold 56,808 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total transaction of $8,788,197.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Johny Srouji sold 10,469 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the transaction, the senior vice president now directly owns 76,250 shares in the company, valued at $12,367,750. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,177 shares of company stock worth $85,864,804. Corporate 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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