Beach Investment Counsel Inc. PA decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 13.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,449 shares of the iPhone maker’s stock after selling 24,660 shares during the quarter. Apple comprises approximately 2.5% of Beach Investment Counsel Inc. PA’s investment portfolio, making the stock its 10th biggest holding. Beach Investment Counsel Inc. PA’s holdings in Apple were worth $23,650,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Blue Sky Asset Management LLC bought a new position in Apple during the 2nd quarter worth approximately $108,000. FNY Managed Accounts LLC boosted its stake in Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 716 shares during the last quarter. Private Vista LLC bought a new position in Apple during the 2nd quarter worth approximately $122,000. Armbruster Capital Management Inc. boosted its stake in Apple by 9.4% during the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after acquiring an additional 78 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Apple during the 2nd quarter worth approximately $149,000. Institutional investors own 60.19% of the company’s stock.
Several research analysts recently weighed in on AAPL shares. Citigroup reissued a “buy” rating and set a $200.00 price objective on shares of Apple in a research note on Wednesday, December 13th. Drexel Hamilton reissued a “buy” rating and set a $208.00 price objective on shares of Apple in a research note on Tuesday, October 24th. Piper Jaffray Companies reissued a “buy” rating and set a $200.00 price objective (up previously from $196.00) on shares of Apple in a research note on Tuesday, October 31st. Vetr lowered shares of Apple from a “buy” rating to a “hold” rating and set a $171.48 price target on the stock. in a research note on Monday, October 30th. Finally, Nomura set a $185.00 price target on shares of Apple and gave the company a “buy” rating in a research note on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $198.94.
In related news, SVP Johny Srouji sold 5,760 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the transaction, the senior vice president now directly owns 81,560 shares in the company, valued at $14,224,064. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $169.69, for a total transaction of $2,654,121.29. Following the transaction, the insider now owns 17,341 shares in the company, valued at $2,942,594.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,412 shares of company stock worth $22,115,155. 0.06% of the stock is owned by corporate insiders.
Shares of Apple Inc. (NASDAQ:AAPL) opened at $176.19 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. The company has a market cap of $904,610.00, a price-to-earnings ratio of 19.17, a PEG ratio of 1.45 and a beta of 1.23. Apple Inc. has a 1 year low of $118.22 and a 1 year high of $179.39.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 earnings per share. research analysts forecast that Apple Inc. will post 11.18 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This piece was first posted by Transcript Daily and is owned by of Transcript Daily. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://transcriptdaily.com/2018/01/17/beach-investment-counsel-inc-pa-lowers-stake-in-apple-inc-aapl.html.
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.
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.