Norris Perne & French LLP MI cut its holdings in shares of Apple (NASDAQ:AAPL) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 142,551 shares of the iPhone maker’s stock after selling 855 shares during the quarter. Apple comprises approximately 3.5% of Norris Perne & French LLP MI’s investment portfolio, making the stock its biggest position. Norris Perne & French LLP MI’s holdings in Apple were worth $24,124,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in Apple in the 2nd quarter valued at about $400,000. FNY Managed Accounts LLC raised its position in Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares in the last quarter. Oak Point Wealth Management acquired a new stake in Apple in the 4th quarter valued at about $163,000. Crow Point Partners LLC raised its position in Apple by 100.0% in the 3rd quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock valued at $153,000 after purchasing an additional 500 shares in the last quarter. Finally, Interactive Financial Advisors acquired a new stake in Apple in the 4th quarter valued at about $188,000. Institutional investors and hedge funds own 61.35% of the company’s stock.
A number of research firms have issued reports on AAPL. Zacks Investment Research lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. Mizuho reaffirmed a “neutral” rating and issued a $175.00 price target (up previously from $160.00) on shares of Apple in a research report on Friday, January 19th. Barclays set a $174.00 price target on Apple and gave the company a “neutral” rating in a research report on Thursday, January 18th. Vetr lowered Apple from a “buy” rating to a “hold” rating and set a $184.49 price target on the stock. in a research report on Tuesday, February 27th. Finally, Bank of America lowered Apple from a “buy” rating to a “neutral” rating and increased their price target for the company from $180.00 to $220.00 in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $203.21.
In related news, insider Philip W. Schiller sold 69,491 shares of Apple stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total transaction of $11,564,692.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Daniel J. Riccio sold 17,375 shares of Apple stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $169.12, for a total value of $2,938,460.00. Following the transaction, the senior vice president now directly owns 66,191 shares of the company’s stock, valued at $11,194,221.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 125,988 shares of company stock valued at $21,336,201. 0.08% of the stock is currently owned by insiders.
Shares of AAPL stock opened at $172.80 on Friday. The firm has a market cap of $904,392.13, a P/E ratio of 18.76, a PEG ratio of 1.35 and a beta of 1.25. Apple has a 1 year low of $141.16 and a 1 year high of $183.50. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.74.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.82 by $0.07. The firm had revenue of $88.29 billion during the quarter, compared to analysts’ expectations of $87.62 billion. Apple had a return on equity of 37.37% and a net margin of 21.13%. Apple’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.36 earnings per share. research analysts predict that Apple will post 11.37 earnings per share for the current year.
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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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