United Bank VA cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.1% in the third quarter, HoldingsChannel.com reports. The firm owned 40,869 shares of the iPhone maker’s stock after selling 4,108 shares during the quarter. Apple comprises approximately 6.0% of United Bank VA’s investment portfolio, making the stock its biggest position. United Bank VA’s holdings in Apple were worth $6,298,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Bainco International Investors boosted its position in Apple by 6.2% in the 3rd quarter. Bainco International Investors now owns 121,166 shares of the iPhone maker’s stock valued at $18,674,000 after buying an additional 7,127 shares during the period. Cable Hill Partners LLC boosted its position in Apple by 10.6% in the 3rd quarter. Cable Hill Partners LLC now owns 13,405 shares of the iPhone maker’s stock valued at $2,066,000 after buying an additional 1,288 shares during the period. Linscomb & Williams Inc. boosted its position in Apple by 4.0% in the 3rd quarter. Linscomb & Williams Inc. now owns 53,934 shares of the iPhone maker’s stock valued at $8,312,000 after buying an additional 2,060 shares during the period. Markel Corp boosted its position in Apple by 9.7% in the 3rd quarter. Markel Corp now owns 113,100 shares of the iPhone maker’s stock valued at $17,431,000 after buying an additional 10,000 shares during the period. Finally, Hoertkorn Richard Charles boosted its position in Apple by 0.8% in the 3rd quarter. Hoertkorn Richard Charles now owns 45,631 shares of the iPhone maker’s stock valued at $7,033,000 after buying an additional 350 shares during the period. 60.19% of the stock is owned by hedge funds and other institutional investors.
Apple Inc. (NASDAQ AAPL) opened at $178.46 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The company has a market cap of $912,180.00, a P/E ratio of 19.42, a P/E/G ratio of 1.45 and a beta of 1.23. Apple Inc. has a 52 week low of $119.50 and a 52 week high of $180.10.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. During the same quarter in the prior year, the business posted $1.50 EPS. Apple’s revenue for the quarter was up 12.2% compared to the same quarter last year. analysts forecast that Apple Inc. will post 11.15 earnings per share for the current year.
In other Apple news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total transaction of $2,695,726.35. Following the transaction, the insider now owns 39,682 shares in the company, valued at approximately $6,839,192.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eduardo H. Cue sold 65,361 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total transaction of $11,215,947.60. The disclosure for this sale can be found here. Insiders have sold a total of 128,412 shares of company stock worth $22,115,155 in the last 90 days. 0.08% of the stock is currently owned by company insiders.
Several research firms have issued reports on AAPL. Zacks Investment Research cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday. Rosenblatt Securities reissued a “buy” rating on shares of Apple in a research report on Friday. Mizuho reissued a “neutral” rating and issued a $175.00 price objective (up from $160.00) on shares of Apple in a research report on Friday. Barclays set a $174.00 price objective on shares of Apple and gave the company a “neutral” rating in a research report on Thursday. Finally, Bank of America cut shares of Apple from a “buy” rating to a “neutral” rating and upped their price target for the stock from $180.00 to $220.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $200.59.
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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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