Gareth Morgan Investments Limited Partnership cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 34.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,573 shares of the iPhone maker’s stock after selling 68,655 shares during the quarter. Apple accounts for 1.7% of Gareth Morgan Investments Limited Partnership’s investment portfolio, making the stock its 6th largest position. Gareth Morgan Investments Limited Partnership’s holdings in Apple were worth $18,517,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in AAPL. Blue Sky Asset Management LLC purchased a new position in Apple during the 2nd quarter worth $108,000. Hefty Wealth Partners lifted its stake in shares of 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 acquiring an additional 174 shares during the period. American Beacon Advisors Inc. acquired a new stake in shares of Apple in the 1st quarter worth $117,000. Armbruster Capital Management Inc. lifted its stake in shares of Apple by 9.4% in 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 period. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Apple in the 2nd quarter worth $149,000. Institutional investors own 59.61% of the company’s stock.
Several research firms have recently commented on AAPL. Nomura set a $175.00 target price on shares of Apple and gave the stock a “neutral” rating in a research note on Tuesday, December 19th. Instinet cut shares of Apple from a “buy” rating to a “neutral” rating and set a $175.00 price objective for the company. in a research note on Tuesday, December 19th. Loop Capital reiterated a “buy” rating and issued a $200.00 price objective on shares of Apple in a research note on Friday, December 22nd. UBS Group set a $190.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Monday, November 27th. Finally, Vetr cut shares of Apple from a “buy” rating to a “hold” rating and set a $178.70 price objective for the company. in a research note on Thursday, November 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus target price of $198.61.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $50.71 billion. During the same period in the previous year, the company posted $1.50 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. equities analysts forecast that Apple Inc. will post 11.18 earnings per share for the current fiscal year.
In related news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $169.69, for a total value of $2,654,121.29. Following the sale, the insider now directly owns 17,341 shares of the company’s stock, valued at $2,942,594.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johny Srouji sold 10,368 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the sale, the insider now directly owns 81,560 shares in the company, valued at $14,246,900.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 232,967 shares of company stock worth $37,944,683. Corporate insiders own 0.08% of the company’s stock.
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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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