Telemus Capital LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,380 shares of the iPhone maker’s stock after selling 6,436 shares during the period. Apple comprises about 1.3% of Telemus Capital LLC’s holdings, making the stock its 11th largest position. Telemus Capital LLC’s holdings in Apple were worth $10,743,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. River & Mercantile Asset Management LLP increased its position 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 worth $172,000 after buying an additional 334 shares during the last quarter. Smith Affiliated Capital Corp. increased its position 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 worth $185,000 after buying an additional 1,185 shares during the last quarter. Capital Advisors Ltd. LLC increased its position 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 worth $200,000 after buying an additional 107 shares during the last quarter. Boston Standard Wealth Management LLC increased its position in shares of 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 position in shares of Apple during the second quarter worth $220,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.56% on Friday, hitting $117.63. The stock had a trading volume of 35,652,191 shares. The stock has a 50 day moving average of $111.56 and a 200 day moving average of $103.65. Apple Inc. has a 12-month low of $89.47 and a 12-month high of $123.82. The firm has a market cap of $633.84 billion, a price-to-earnings ratio of 13.72 and a beta of 1.22.

Apple (NASDAQ:AAPL) last posted its quarterly 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. The business earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business’s revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 earnings per share. Equities analysts predict that Apple Inc. will post $8.26 earnings per share for the current fiscal year.

Several equities analysts have commented on AAPL shares. RBC Capital Markets reiterated an “outperform” rating and issued a $115.00 price objective on shares of Apple in a report on Friday, August 5th. Vetr downgraded shares of Apple from a “hold” rating to a “sell” rating and set a $103.98 price objective on the stock. in a report on Monday, August 8th. Wells Fargo & Co. reiterated a “market perform” rating on shares of Apple in a report on Friday, September 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $116.00 price objective (down from $118.00) on shares of Apple in a report on Thursday, July 21st. Finally, Macquarie reiterated an “outperform” rating and issued a $115.00 price objective on shares of Apple in a report on Friday, August 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-three have given a buy rating and two have issued a strong buy rating to the stock. Apple has an average rating of “Buy” and an average price target of $126.74.

In other news, CEO Timothy D. Cook sold 110,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $106.84, for a total value of $11,752,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $107.23, for a total value of $35,814,820.00. The disclosure for this sale can be found here. 0.08% of the stock is owned by 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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