Curbstone Financial Management Corp cut its holdings in Apple Inc. (NASDAQ:AAPL) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,916 shares of the iPhone maker’s stock after selling 2,628 shares during the quarter. Apple comprises about 2.2% of Curbstone Financial Management Corp’s investment portfolio, making the stock its 7th biggest holding. Curbstone Financial Management Corp’s holdings in Apple were worth $3,588,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Hefty Wealth Partners increased its stake in Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in Apple in the 1st quarter worth about $117,000. Portfolio Solutions LLC purchased a new position in Apple in the 1st quarter worth about $169,000. Fox Run Management L.L.C. purchased a new position in Apple in the 1st quarter worth about $201,000. Finally, Stone House Investment Management LLC purchased a new position in Apple in the 1st quarter worth about $225,000. Hedge funds and other institutional investors own 60.35% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.03% during midday trading on Monday, reaching $159.93. The company had a trading volume of 11,079,962 shares. The company has a market capitalization of $826.07 billion, a PE ratio of 18.16 and a beta of 1.27. The company has a 50 day moving average of $158.97 and a 200 day moving average of $149.42. Apple Inc. has a one year low of $104.08 and a one year high of $164.94.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter last year, the business posted $1.42 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts predict that Apple Inc. will post $9.01 EPS for the current fiscal year.
A number of brokerages recently weighed in on AAPL. Barclays PLC reissued a “hold” rating and issued a $146.00 price target on shares of Apple in a research note on Monday, September 4th. Piper Jaffray Companies reissued an “overweight” rating and issued a $190.00 price target on shares of Apple in a research note on Tuesday, September 5th. Robert W. Baird reissued a “buy” rating and issued a $172.00 price target on shares of Apple in a research note on Tuesday, September 5th. Royal Bank Of Canada lifted their price target on Apple from $176.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, September 1st. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $175.00 price target on shares of Apple in a research note on Wednesday, September 6th. Eleven analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. Apple currently has a consensus rating of “Buy” and an average price target of $187.63.
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In other Apple news, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $158.13, for a total value of $5,000,861.25. Following the sale, the senior vice president now owns 112,430 shares in the company, valued at approximately $17,778,555.90. The disclosure for this sale can be found here. Insiders have sold 432,930 shares of company stock worth $69,008,577 in the last 90 days. Company 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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