Premier Asset Managment LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,806 shares of the iPhone maker’s stock after selling 2,424 shares during the period. Apple comprises about 4.1% of Premier Asset Managment LLC’s holdings, making the stock its 2nd largest position. Premier Asset Managment LLC’s holdings in Apple were worth $15,851,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP increased its stake in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares during the last quarter. Smith Affiliated Capital Corp. increased its stake in Apple by 158.0% in the second quarter. Smith Affiliated Capital Corp. now owns 1,935 shares of the iPhone maker’s stock worth $185,000 after buying an additional 1,185 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in Apple by 5.4% in the second quarter. Capital Advisors Ltd. LLC now owns 2,088 shares of the iPhone maker’s stock worth $200,000 after buying an additional 107 shares during the last quarter. Boston Standard Wealth Management LLC increased its stake in Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock worth $218,000 after buying an additional 14 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Apple during the second quarter worth $220,000. Institutional investors own 56.46% of the company’s stock.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Apple Inc. (NASDAQ:AAPL) traded up 1.74% on Monday, reaching $116.05. 36,235,956 shares of the company’s stock traded hands. The stock has a market capitalization of $625.33 billion, a PE ratio of 13.53 and a beta of 1.22. The firm’s 50-day moving average is $110.55 and its 200 day moving average is $103.27. Apple Inc. has a 52-week low of $89.47 and a 52-week high of $123.82.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business had revenue of $42.36 billion for the quarter, compared to analyst estimates of $42.35 billion. During the same period last year, the business posted $1.85 EPS. Apple’s revenue was down 14.6% compared to the same quarter last year. Analysts forecast that Apple Inc. will post $8.26 EPS for the current year.

A number of analysts recently weighed in on AAPL shares. Vetr upgraded Apple and set a $100.00 target price for the company in a research report on Thursday, July 14th. Morgan Stanley reiterated a “buy” rating on shares of Apple in a research report on Tuesday, June 14th. Drexel Hamilton reiterated a “buy” rating on shares of Apple in a research report on Tuesday, June 14th. Bank of America Corp. reiterated a “buy” rating and issued a $120.00 price objective on shares of Apple in a research report on Tuesday, June 14th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $124.00 price objective on shares of Apple in a research report on Tuesday, June 14th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-one have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $126.13.

In related news, COO Jeffrey E. Williams sold 43,769 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $112.59, for a total value of $4,927,951.71. Following the transaction, the chief operating officer now directly owns 90,657 shares in the company, valued at approximately $10,207,071.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel J. Riccio sold 22,381 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $113.06, for a total transaction of $2,530,395.86. Following the completion of the transaction, the insider now owns 47,043 shares in the company, valued at $5,318,681.58. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate 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

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