Norway Savings Bank cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,192 shares of the iPhone maker’s stock after selling 1,068 shares during the period. Apple makes up about 3.0% of Norway Savings Bank’s holdings, making the stock its 5th biggest position. Norway Savings Bank’s holdings in Apple were worth $3,113,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. acquired a new position in Apple during the second quarter valued at $400,000. Blue Sky Asset Management LLC acquired a new position in Apple during the second quarter valued at $108,000. FNY Managed Accounts LLC raised its position in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares during the period. Hefty Wealth Partners raised its position in Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares during the period. Finally, Armbruster Capital Management Inc. raised its position in Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after buying an additional 78 shares during the period. 60.17% of the stock is currently owned by institutional investors.
In other news, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the completion of the transaction, the insider now directly owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eduardo H. Cue sold 65,361 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,412 shares of company stock valued at $22,115,155. Insiders own 0.06% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded up $1.81 during trading on Friday, reaching $177.09. The company’s stock had a trading volume of 25,226,000 shares, compared to its average volume of 26,680,000. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The firm has a market cap of $909,240.00, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Apple Inc. has a 12-month low of $118.21 and a 12-month high of $177.36.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 EPS. sell-side analysts expect that Apple Inc. will post 11.18 earnings per share for the current year.
Several research analysts recently weighed in on AAPL shares. Citigroup reissued a “buy” rating and set a $200.00 price target on shares of Apple in a research report on Wednesday, December 13th. Drexel Hamilton restated a “buy” rating and issued a $208.00 target price on shares of Apple in a research note on Tuesday, October 24th. Piper Jaffray Companies restated a “buy” rating and issued a $200.00 target price (up previously from $196.00) on shares of Apple in a research note on Tuesday, October 31st. Vetr downgraded Apple from a “buy” rating to a “hold” rating and set a $171.48 target price on the stock. in a research note on Monday, October 30th. Finally, Nomura set a $185.00 target price on Apple and gave the company a “buy” rating in a research note on Monday, November 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $198.94.
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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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