Adirondack Trust Co. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,657 shares of the iPhone maker’s stock after selling 2,540 shares during the period. Apple accounts for approximately 2.5% of Adirondack Trust Co.’s investment portfolio, making the stock its 6th largest position. Adirondack Trust Co.’s holdings in Apple were worth $3,542,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Noven Financial Group Inc. raised its stake in shares of Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock worth $857,000 after buying an additional 22 shares in the last quarter. Cordasco Financial Network raised its stake in shares of Apple by 1.0% in the first quarter. Cordasco Financial Network now owns 3,184 shares of the iPhone maker’s stock worth $457,000 after buying an additional 31 shares in the last quarter. Wall Street Access Asset Management LLC raised its stake in shares of Apple by 0.3% in the fourth quarter. Wall Street Access Asset Management LLC now owns 18,345 shares of the iPhone maker’s stock worth $2,124,000 after buying an additional 50 shares in the last quarter. Newman Dignan & Sheerar Inc. raised its stake in shares of Apple by 0.4% in the first quarter. Newman Dignan & Sheerar Inc. now owns 24,371 shares of the iPhone maker’s stock worth $3,501,000 after buying an additional 108 shares in the last quarter. Finally, Integrated Investment Consultants LLC raised its stake in shares of Apple by 1.5% in the first quarter. Integrated Investment Consultants LLC now owns 8,835 shares of the iPhone maker’s stock worth $1,269,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 61.26% of the company’s stock.

Apple Inc. (NASDAQ:AAPL) opened at 145.82 on Tuesday. The stock has a market cap of $760.28 billion, a P/E ratio of 17.11 and a beta of 1.28. The firm’s 50-day moving average is $151.25 and its 200 day moving average is $136.05. Apple Inc. has a one year low of $91.50 and a one year high of $156.65.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. The business had revenue of $52.90 billion for the quarter, compared to analyst estimates of $52.61 billion. Apple had a return on equity of 35.09% and a net margin of 20.74%. On average, analysts anticipate that Apple Inc. will post $8.94 EPS for the current fiscal year.

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A number of equities analysts have recently commented on the stock. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $159.00 price target (up previously from $152.00) on shares of Apple in a report on Monday, April 3rd. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $150.00 price target on shares of Apple in a report on Wednesday, April 12th. Rosenblatt Securities reiterated a “neutral” rating and set a $120.00 price target on shares of Apple in a report on Monday, April 17th. FBN Securities lifted their price target on shares of Apple from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, May 4th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $130.00 price target on shares of Apple in a report on Tuesday, June 6th. Ten research analysts have rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $160.83.

In related news, insider Philip W. Schiller sold 47,796 shares of the company’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $143.32, for a total transaction of $6,850,122.72. Following the transaction, the insider now owns 94,010 shares of the company’s stock, valued at $13,473,513.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $155.32, for a total value of $1,855,918.68. Following the transaction, the insider now directly owns 13,049 shares in the company, valued at approximately $2,026,770.68. The disclosure for this sale can be found here. In the last three months, insiders sold 447,411 shares of company stock worth $67,200,745. Corporate insiders own 0.08% of the company’s stock.

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.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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