Northstar Investment Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,598 shares of the iPhone maker’s stock after selling 296 shares during the period. Northstar Investment Advisors LLC’s holdings in Apple were worth $3,618,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Quattro Financial Advisors LLC purchased a new stake in Apple in the 1st quarter worth $133,000. Smart Portfolios LLC purchased a new stake in Apple in the 1st quarter worth $134,000. CX Institutional purchased a new stake in Apple in the 2nd quarter worth $135,000. Spectrum Financial Alliance Ltd LLC purchased a new stake in Apple in the 1st quarter worth $138,000. Finally, Macroview Investment Management LLC increased its stake in Apple by 220.3% in the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after buying an additional 619 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.
Shares of NASDAQ:AAPL opened at $220.65 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. Apple Inc. has a 12 month low of $150.24 and a 12 month high of $233.47. The stock has a market capitalization of $1,077.94 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 1.68 and a beta of 1.36.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The firm had revenue of $53.27 billion during the quarter, compared to the consensus estimate of $52.43 billion. During the same quarter last year, the firm earned $1.67 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, sell-side analysts forecast that Apple Inc. will post 11.76 earnings per share for the current year.
In related news, SVP Angela J. Ahrendts sold 14,194 shares of the stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $227.96, for a total value of $3,235,664.24. Following the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at approximately $24,058,442.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 20,000 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $206.58, for a total transaction of $4,131,600.00. Following the completion of the sale, the director now directly owns 1,153,283 shares in the company, valued at $238,245,202.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 564,185 shares of company stock valued at $124,444,213. 0.06% of the stock is owned by insiders.
A number of brokerages have issued reports on AAPL. Rosenblatt Securities set a $200.00 price target on Apple and gave the stock a “buy” rating in a research note on Monday. Sanford C. Bernstein reiterated a “neutral” rating and issued a $200.00 price target on shares of Apple in a research note on Monday. Wedbush began coverage on Apple in a research note on Thursday, October 18th. They issued an “outperform” rating and a $310.00 price target for the company. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $272.00 price target on shares of Apple in a research note on Wednesday, October 10th. Finally, Bank of America reiterated a “buy” rating on shares of Apple in a research note on Tuesday, October 9th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirty have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target 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.
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