Fairfield Bush & CO. cut its position in shares of Apple (NASDAQ:AAPL) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,085 shares of the iPhone maker’s stock after selling 335 shares during the quarter. Apple accounts for 2.1% of Fairfield Bush & CO.’s investment portfolio, making the stock its 14th biggest holding. Fairfield Bush & CO.’s holdings in Apple were worth $7,799,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Jarislowsky Fraser Ltd raised its holdings in Apple by 22.4% during the third quarter. Jarislowsky Fraser Ltd now owns 22,515 shares of the iPhone maker’s stock worth $3,470,000 after purchasing an additional 4,118 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Apple by 1.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,234,364 shares of the iPhone maker’s stock worth $190,240,000 after purchasing an additional 20,689 shares during the last quarter. Shelton Capital Management raised its holdings in Apple by 2.3% during the third quarter. Shelton Capital Management now owns 437,397 shares of the iPhone maker’s stock worth $67,412,000 after purchasing an additional 9,758 shares during the last quarter. Hikari Power Ltd acquired a new position in Apple during the third quarter worth $208,000. Finally, PFG Advisors acquired a new position in Apple during the fourth quarter worth $330,000. 58.04% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on AAPL. UBS Group set a $210.00 price objective on Apple and gave the stock a “buy” rating in a report on Wednesday, June 13th. Macquarie reissued a “buy” rating and issued a $197.00 price target on shares of Apple in a report on Monday, June 11th. BidaskClub cut Apple from a “buy” rating to a “hold” rating in a report on Friday, June 8th. Argus boosted their price target on Apple from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, June 8th. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $164.00 price target on shares of Apple in a report on Tuesday, June 5th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $206.89.
AAPL stock opened at $188.84 on Monday. The stock has a market cap of $958.18 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.55 and a beta of 1.29. Apple has a 12-month low of $142.20 and a 12-month high of $194.20. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.80.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, May 1st. The iPhone maker reported $2.73 EPS for the quarter, topping the Zacks’ consensus estimate of $2.69 by $0.04. The company had revenue of $61.14 billion for the quarter, compared to analysts’ expectations of $60.94 billion. Apple had a return on equity of 39.97% and a net margin of 21.55%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.10 earnings per share. research analysts anticipate that Apple will post 11.42 earnings per share for the current year.
Apple declared that its Board of Directors has approved a share buyback program on Tuesday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 11.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple (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.