Newbrook Capital Advisors LP Has $18.98 Million Position in Apple Inc. (NASDAQ:AAPL)
Newbrook Capital Advisors LP lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 75.4% during the first quarter, Holdings Channel.com reports. The firm owned 74,626 shares of the iPhone maker’s stock after selling 229,186 shares during the period. Apple accounts for about 2.1% of Newbrook Capital Advisors LP’s portfolio, making the stock its 16th biggest position. Newbrook Capital Advisors LP’s holdings in Apple were worth $18,977,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Korea Investment CORP boosted its position in shares of Apple by 6.3% during the 4th quarter. Korea Investment CORP now owns 3,753,051 shares of the iPhone maker’s stock worth $1,102,083,000 after purchasing an additional 221,800 shares in the last quarter. Atlas Private Wealth Management bought a new position in shares of Apple during the 4th quarter worth about $4,730,000. Blair William & Co. IL boosted its position in shares of Apple by 2.0% during the 4th quarter. Blair William & Co. IL now owns 2,568,117 shares of the iPhone maker’s stock worth $754,128,000 after purchasing an additional 49,316 shares in the last quarter. Altshuler Shaham Ltd boosted its position in shares of Apple by 2,180.0% during the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 109 shares in the last quarter. Finally, Capital International Ltd. CA lifted its position in Apple by 37.6% in the 4th quarter. Capital International Ltd. CA now owns 16,051 shares of the iPhone maker’s stock valued at $4,713,000 after acquiring an additional 4,382 shares in the last quarter. 62.04% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on AAPL. Barclays reaffirmed a “neutral” rating and issued a $326.00 price target on shares of Apple in a research report on Friday. Sanford C. Bernstein raised their price target on shares of Apple from $285.00 to $370.00 and gave the company a “market perform” rating in a research report on Tuesday, June 23rd. Loop Capital raised their price target on shares of Apple from $280.00 to $330.00 and gave the company a “hold” rating in a research report on Tuesday, June 23rd. Deutsche Bank raised their price target on shares of Apple from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Cascend Securities dropped their price target on shares of Apple from $350.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $326.64.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.29. Apple had a net margin of 21.35% and a return on equity of 64.49%. The business had revenue of $58.31 billion during the quarter, compared to analyst estimates of $54.64 billion. During the same period in the previous year, the business earned $2.46 EPS. Apple’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 12.32 EPS for the current year.
In other news, SVP Deirdre O’brien sold 9,137 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $285.12, for a total transaction of $2,605,141.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,491 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the transaction, the insider now owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The disclosure for this sale can be found here. Insiders sold a total of 95,752 shares of company stock valued at $24,750,125 over the last quarter. 0.05% of the stock is owned by company insiders.
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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