Leavell Investment Management Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 9.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,399 shares of the iPhone maker’s stock after selling 10,955 shares during the period. Apple comprises about 1.5% of Leavell Investment Management Inc.’s holdings, making the stock its 7th largest position. Leavell Investment Management Inc.’s holdings in Apple were worth $10,458,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP boosted its stake in shares of Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 334 shares in the last quarter. Smith Affiliated Capital Corp. boosted its stake in shares of Apple by 158.0% in the second quarter. Smith Affiliated Capital Corp. now owns 1,935 shares of the iPhone maker’s stock valued at $185,000 after buying an additional 1,185 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Apple by 5.4% in the second quarter. Capital Advisors Ltd. LLC now owns 2,088 shares of the iPhone maker’s stock valued at $200,000 after buying an additional 107 shares in the last quarter. Hutchinson Capital Management CA bought a new stake in shares of Apple during the first quarter valued at about $229,000. Finally, Acrospire Investment Management LLC bought a new stake in shares of Apple during the first quarter valued at about $240,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.15% during trading on Friday, reaching $114.06. The company’s stock had a trading volume of 24,358,443 shares. Apple Inc. has a one year low of $89.47 and a one year high of $123.82. The stock’s 50 day moving average is $110.36 and its 200 day moving average is $103.24. The firm has a market cap of $614.61 billion, a P/E ratio of 13.30 and a beta of 1.22.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The firm earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The business’s revenue was down 14.6% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post $8.26 EPS for the current fiscal year.

Several brokerages have recently issued reports on AAPL. Canaccord Genuity boosted their price objective on shares of Apple from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 16th. Stifel Nicolaus reissued a “buy” rating and set a $120.00 price objective on shares of Apple in a research note on Friday, September 16th. Piper Jaffray Cos. raised shares of Apple to an “overweight” rating and set a $151.00 price objective for the company in a research note on Friday, September 16th. Credit Agricole SA boosted their price objective on shares of Apple from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, September 16th. Finally, RBC Capital Markets reissued an “outperform” rating and set a $120.00 price objective (up from $117.00) on shares of Apple in a research note on Friday, September 16th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, forty-one have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $126.13.

In related news, CEO Timothy D. Cook sold 334,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $35,814,820.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Johny Srouji sold 9,827 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $108.44, for a total value of $1,065,639.88. Following the transaction, the insider now owns 116,369 shares of the company’s stock, valued at approximately $12,619,054.36. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

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.

5 Day Chart for NASDAQ:AAPL

Receive News & Stock Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related stocks with our FREE daily email newsletter.