Apple Inc. (NASDAQ:AAPL) is Beacon Pointe Advisors LLC’s 6th Largest Position
Beacon Pointe Advisors LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 0.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,683 shares of the iPhone maker’s stock after buying an additional 125 shares during the quarter. Apple accounts for approximately 2.7% of Beacon Pointe Advisors LLC’s holdings, making the stock its 6th biggest holding. Beacon Pointe Advisors LLC’s holdings in Apple were worth $16,716,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Altshuler Shaham Ltd increased its position in shares of Apple by 2,180.0% in the fourth quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 109 shares in the last quarter. Stralem & Co. Inc. purchased a new position in shares of Apple in the first quarter valued at $39,000. Sycomore Asset Management purchased a new stake in Apple during the 1st quarter worth about $50,000. Sofos Investments Inc. increased its position in Apple by 16.9% during the 1st quarter. Sofos Investments Inc. now owns 940 shares of the iPhone maker’s stock worth $99,000 after purchasing an additional 136 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. purchased a new stake in Apple during the 4th quarter worth about $117,000. Institutional investors and hedge funds own 62.04% of the company’s stock.
In other Apple news, SVP Deirdre O’brien sold 9,137 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $285.12, for a total value of $2,605,141.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 41,062 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $241.44, for a total value of $9,914,009.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,752 shares of company stock worth $24,750,125. 0.05% of the stock is currently owned by corporate insiders.
Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.29. Apple had a return on equity of 64.49% and a net margin of 21.35%. The company had revenue of $58.31 billion for the quarter, compared to analyst estimates of $54.64 billion. During the same period in the prior year, the company posted $2.46 EPS. Apple’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 12.32 earnings per share for the current fiscal year.
AAPL has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $350.00 price objective on shares of Apple in a research report on Friday, May 1st. Nomura Instinet lifted their price objective on Apple from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. DA Davidson dropped their price objective on Apple from $370.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Credit Suisse Group set a $295.00 price objective on Apple and gave the stock a “neutral” rating in a research report on Tuesday, June 23rd. Finally, Morgan Stanley lifted their price objective on Apple from $326.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $326.64.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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