DAVENPORT & Co LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 382,307 shares of the iPhone maker’s stock after selling 5,125 shares during the period. DAVENPORT & Co LLC’s holdings in Apple were worth $45,707,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Perkins Coie Trust Co boosted its holdings in Apple by 1.0% in the second quarter. Perkins Coie Trust Co now owns 26,924 shares of the iPhone maker’s stock valued at $3,878,000 after purchasing an additional 256 shares during the period. Lenox Wealth Advisors Inc. boosted its holdings in Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after purchasing an additional 20 shares during the period. Highwater Wealth Management LLC boosted its holdings in Apple by 14.7% in the second quarter. Highwater Wealth Management LLC now owns 5,103 shares of the iPhone maker’s stock valued at $735,000 after purchasing an additional 654 shares during the period. Prentiss Smith & Co. Inc. boosted its holdings in Apple by 7.1% in the second quarter. Prentiss Smith & Co. Inc. now owns 7,455 shares of the iPhone maker’s stock valued at $1,074,000 after purchasing an additional 495 shares during the period. Finally, BKD Wealth Advisors LLC boosted its holdings in Apple by 4.2% in the second quarter. BKD Wealth Advisors LLC now owns 49,976 shares of the iPhone maker’s stock valued at $7,198,000 after purchasing an additional 2,028 shares during the period. Hedge funds and other institutional investors own 60.35% of the company’s stock.

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A number of research analysts recently issued reports on AAPL shares. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Monday, May 29th. Sanford C. Bernstein set a $160.00 target price on Apple and gave the company a “buy” rating in a report on Monday, May 29th. Credit Suisse Group set a $170.00 target price on Apple and gave the company a “buy” rating in a report on Monday, May 29th. Rosenblatt Securities reiterated a “neutral” rating and issued a $120.00 target price on shares of Apple in a report on Tuesday, May 30th. Finally, UBS AG reiterated a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Wednesday, May 31st. Ten analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $188.59.

In other Apple news, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the transaction, the insider now owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The disclosure for this sale can be found here. In the last quarter, insiders sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is owned by company insiders.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same period last year, the company posted $1.42 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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