General American Investors Co. Inc. Buys 10,000 Shares of Apple Inc. (AAPL)

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General American Investors Co. Inc. boosted its stake in Apple Inc. (NASDAQ:AAPL) by 9.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,000 shares of the iPhone maker’s stock after purchasing an additional 10,000 shares during the period. Apple comprises approximately 1.8% of General American Investors Co. Inc.’s investment portfolio, making the stock its 21st biggest position. General American Investors Co. Inc.’s holdings in Apple were worth $19,127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Truepoint Inc. increased its holdings in Apple by 15,559.4% in the third quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock valued at $4,437,000 after purchasing an additional 4,408,441 shares during the period. Harding Loevner LP boosted its position in Apple by 784,734.3% during the third quarter. Harding Loevner LP now owns 3,296,304 shares of the iPhone maker’s stock valued at $188,966,000 after acquiring an additional 3,295,884 shares during the last quarter. Mackenzie Financial Corp boosted its position in Apple by 270.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,995,595 shares of the iPhone maker’s stock valued at $337,715,000 after acquiring an additional 1,457,017 shares during the last quarter. Atlantic Trust Group LLC boosted its position in Apple by 36.2% during the third quarter. Atlantic Trust Group LLC now owns 3,641,534 shares of the iPhone maker’s stock valued at $561,233,000 after acquiring an additional 968,385 shares during the last quarter. Finally, ADAMCAPITAL Gestao de Recursos Ltda. bought a new stake in Apple during the fourth quarter valued at $127,691,000. Institutional investors and hedge funds own 58.07% of the company’s stock.

In related news, insider Philip W. Schiller sold 69,491 shares of the firm’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $166.42, for a total value of $11,564,692.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 15,653 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $185.18, for a total transaction of $2,898,622.54. Following the completion of the transaction, the chief operating officer now directly owns 168,181 shares in the company, valued at approximately $31,143,757.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 279,074 shares of company stock worth $49,607,454. 0.08% of the stock is owned by insiders.

AAPL has been the topic of a number of research analyst reports. Barclays cut their price target on shares of Apple from $170.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Friday, March 16th. BidaskClub cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Morgan Stanley cut their price target on shares of Apple from $203.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, April 20th. Bank of America reaffirmed a “buy” rating and set a $220.00 price target on shares of Apple in a research report on Friday, March 23rd. Finally, Vetr raised shares of Apple from a “hold” rating to a “buy” rating and set a $184.49 price target on the stock in a research report on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $207.20.

Shares of NASDAQ AAPL opened at $184.16 on Thursday. Apple Inc. has a fifty-two week low of $142.28 and a fifty-two week high of $194.20. The stock has a market capitalization of $935.80 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.52 and a beta of 1.29. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.80.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.69 by $0.04. Apple had a net margin of 21.55% and a return on equity of 39.97%. The business had revenue of $61.14 billion for the quarter, compared to analysts’ expectations of $60.94 billion. During the same quarter last year, the firm earned $2.10 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. sell-side analysts expect that Apple Inc. will post 11.42 earnings per share for the current year.

Apple declared that its Board of Directors has authorized a stock buyback plan on Tuesday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 11.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Apple Company Profile

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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