NBW Capital LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,392 shares of the iPhone maker’s stock after selling 760 shares during the period. Apple comprises 4.1% of NBW Capital LLC’s portfolio, making the stock its 2nd largest position. NBW Capital LLC’s holdings in Apple were worth $14,710,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Hemenway Trust Co LLC boosted its position in Apple by 0.3% in the fourth quarter. Hemenway Trust Co LLC now owns 124,252 shares of the iPhone maker’s stock valued at $14,391,000 after buying an additional 337 shares during the period. GFI Investment Counsel Ltd. acquired a new position in Apple during the fourth quarter valued at about $817,000. Twin Focus Capital Partners LLC boosted its position in Apple by 245.5% in the fourth quarter. Twin Focus Capital Partners LLC now owns 13,818 shares of the iPhone maker’s stock valued at $1,600,000 after buying an additional 9,818 shares during the period. CWA Asset Management Group LLC boosted its position in Apple by 10.7% in the fourth quarter. CWA Asset Management Group LLC now owns 71,110 shares of the iPhone maker’s stock valued at $8,236,000 after buying an additional 6,852 shares during the period. Finally, Hunter Associates Investment Management LLC boosted its position in Apple by 2.1% in the fourth quarter. Hunter Associates Investment Management LLC now owns 46,827 shares of the iPhone maker’s stock valued at $5,423,000 after buying an additional 965 shares during the period. 61.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of Apple Inc. (NASDAQ:AAPL) opened at 150.27 on Friday. The firm has a market capitalization of $783.48 billion, a price-to-earnings ratio of 17.63 and a beta of 1.31. Apple Inc. has a 1-year low of $96.42 and a 1-year high of $156.65. The company’s 50-day moving average is $147.46 and its 200 day moving average is $140.51.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping the consensus estimate of $2.02 by $0.08. Apple had a net margin of 20.74% and a return on equity of 35.09%. The company had revenue of $52.90 billion during the quarter, compared to analysts’ expectations of $52.61 billion. On average, analysts expect that Apple Inc. will post $8.91 EPS for the current fiscal year.
Apple declared that its board has authorized a stock repurchase program on Tuesday, May 2nd that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Several equities analysts have recently issued reports on AAPL shares. UBS AG boosted their target price on Apple from $165.00 to $200.00 in a research note on Sunday, April 2nd. Vetr raised Apple from a “hold” rating to a “buy” rating and set a $146.43 target price on the stock in a research note on Monday, March 27th. Needham & Company LLC cut Apple from a “strong-buy” rating to a “buy” rating and boosted their target price for the company from $150.00 to $165.00 in a research note on Friday, March 24th. Canaccord Genuity boosted their target price on Apple from $154.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, March 31st. Finally, Drexel Hamilton reissued a “buy” rating and set a $185.00 target price on shares of Apple in a research note on Thursday, March 30th. Eleven research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $160.38.
In related news, SVP D Bruce Sewell sold 67,500 shares of Apple stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $148.76, for a total transaction of $10,041,300.00. Following the transaction, the senior vice president now owns 141,325 shares of the company’s stock, valued at approximately $21,023,507. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $153.88, for a total transaction of $5,385,800.00. Following the transaction, the director now directly owns 1,168,283 shares in the company, valued at approximately $179,775,388.04. The disclosure for this sale can be found here. Insiders have sold a total of 373,000 shares of company stock worth $56,497,046 in the last three months. 0.08% of the stock is owned by insiders.
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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