Dowling & Yahnke LLC lifted its position in Apple Inc. (NASDAQ:AAPL) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,831 shares of the iPhone maker’s stock after acquiring an additional 2,044 shares during the quarter. Apple accounts for 2.2% of Dowling & Yahnke LLC’s portfolio, making the stock its 5th largest position. Dowling & Yahnke LLC’s holdings in Apple were worth $24,218,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in AAPL. Summit Trail Advisors LLC lifted its stake in Apple by 17,669.4% during the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock valued at $20,181,000 after acquiring an additional 20,067,124 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Apple by 1.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 19,610,272 shares of the iPhone maker’s stock valued at $3,290,212,000 after acquiring an additional 347,970 shares during the period. Cornerstone Wealth Management LLC lifted its stake in Apple by 18,553.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock valued at $89,526,000 after acquiring an additional 16,668,866 shares during the period. Dimensional Fund Advisors LP lifted its stake in Apple by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 16,158,094 shares of the iPhone maker’s stock valued at $2,711,005,000 after acquiring an additional 55,050 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Apple by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,977,515 shares of the iPhone maker’s stock valued at $2,680,707,000 after acquiring an additional 136,478 shares during the period. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Apple stock traded down $3.12 during mid-day trading on Wednesday, hitting $219.61. The company had a trading volume of 13,201,137 shares, compared to its average volume of 30,681,812. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $1,084.53 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.69 and a beta of 1.36. Apple Inc. has a 1 year low of $150.24 and a 1 year high of $233.47.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.16. The business had revenue of $53.27 billion for the quarter, compared to analyst estimates of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the firm posted $1.67 earnings per share. As a group, research analysts expect that Apple Inc. will post 11.76 earnings per share for the current fiscal year.
In other news, Director Arthur D. Levinson sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $206.58, for a total transaction of $4,131,600.00. Following the transaction, the director now directly owns 1,153,283 shares in the company, valued at $238,245,202.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 564,185 shares of company stock worth $124,444,213. Insiders own 0.06% of the company’s stock.
Several equities analysts recently issued reports on AAPL shares. UBS Group started coverage on shares of Apple in a research note on Wednesday, September 12th. Maxim Group boosted their target price on shares of Apple to $221.00 and gave the company an “average” rating in a research note on Thursday, September 13th. Royal Bank of Canada boosted their target price on shares of Apple to $250.00 and gave the company an “average” rating in a research note on Wednesday, September 26th. Guggenheim reiterated a “buy” rating and issued a $225.00 target price on shares of Apple in a research note on Tuesday, July 24th. Finally, Macquarie set a $202.00 price target on shares of Apple and gave the stock a “buy” rating in a report on Monday, July 23rd. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirty-one have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $224.63.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
Featured Story: What is insider trading?
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.