Moon Capital Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 32.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,820 shares of the iPhone maker’s stock after selling 2,845 shares during the period. Apple makes up 1.0% of Moon Capital Management LLC’s portfolio, making the stock its 23rd largest position. Moon Capital Management LLC’s holdings in Apple were worth $836,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in AAPL. Glacier Peak Capital LLC acquired a new stake in shares of Apple during the fourth quarter worth approximately $127,000. Welch Investments LLC acquired a new stake in shares of Apple during the fourth quarter worth approximately $146,000. Odey Holdings AG raised its stake in shares of Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares during the last quarter. Portfolio Solutions LLC acquired a new stake in shares of Apple during the first quarter worth approximately $169,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Apple during the first quarter worth approximately $201,000. 61.22% of the stock is owned by hedge funds and other institutional investors.
Apple Inc. (AAPL) opened at 149.04 on Friday. The stock has a market cap of $777.07 billion, a P/E ratio of 17.48 and a beta of 1.31. The stock has a 50 day moving average price of $150.30 and a 200 day moving average price of $137.42. Apple Inc. has a 52-week low of $96.05 and a 52-week high of $156.65.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The company had revenue of $52.90 billion for the quarter, compared to analysts’ expectations of $52.61 billion. On average, equities research analysts forecast that Apple Inc. will post $8.92 EPS for the current year.
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A number of brokerages recently commented on AAPL. KeyCorp reaffirmed a “hold” rating on shares of Apple in a research note on Monday, July 10th. Nomura reaffirmed a “buy” rating and issued a $165.00 price target on shares of Apple in a research note on Wednesday, July 5th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Apple in a research note on Wednesday. Instinet reaffirmed a “buy” rating and issued a $165.00 price target on shares of Apple in a research note on Wednesday, July 5th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $170.00 price target (up previously from $160.00) on shares of Apple in a research note on Monday, June 12th. Eleven analysts have rated the stock with a hold rating, forty have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $160.97.
In related news, insider Angela J. Ahrendts sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $147.98, for a total value of $11,098,500.00. Following the sale, the insider now owns 154,116 shares in the company, valued at approximately $22,806,085.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Luca Maestri sold 6,308 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $141.83, for a total value of $894,663.64. Following the completion of the sale, the insider now owns 2,665 shares in the company, valued at approximately $377,976.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 379,308 shares of company stock worth $57,391,709. Insiders own 0.08% of the company’s stock.
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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