Apple Inc. (AAPL) Stake Lowered by SeaBridge Investment Advisors LLC
SeaBridge Investment Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,646 shares of the iPhone maker’s stock after selling 3,534 shares during the period. Apple accounts for 1.6% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 15th largest holding. SeaBridge Investment Advisors LLC’s holdings in Apple were worth $6,862,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in AAPL. Hefty Wealth Partners boosted its holdings in Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares during the period. American Beacon Advisors Inc. purchased a new stake in Apple in the 1st quarter worth $117,000. State of Alaska Department of Revenue purchased a new stake in Apple in the 2nd quarter worth $149,000. Portfolio Solutions LLC purchased a new stake in Apple in the 1st quarter worth $169,000. Finally, D. Scott Neal Inc. increased its stake in Apple by 19.8% in the 2nd quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock worth $175,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 60.36% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Apple Inc. (AAPL) Stake Lowered by SeaBridge Investment Advisors LLC” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/02/apple-inc-aapl-stake-lowered-by-seabridge-investment-advisors-llc.html.
Several brokerages have recently commented on AAPL. UBS AG set a $170.00 price objective on Apple and gave the company a “buy” rating in a research report on Tuesday, June 6th. Bank of America Corporation reiterated a “buy” rating and set a $180.00 target price on shares of Apple in a research report on Tuesday, September 26th. Royal Bank Of Canada reiterated an “outperform” rating and set a $160.08 target price (down previously from $176.00) on shares of Apple in a research report on Wednesday, August 9th. Longbow Research reissued a “buy” rating and set a $173.00 target price on shares of Apple in a research note on Friday, August 11th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $150.00 target price on shares of Apple in a research note on Thursday, September 21st. Ten equities research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $188.96.
Apple Inc. (NASDAQ:AAPL) traded down 0.477% during mid-day trading on Monday, reaching $153.385. The company’s stock had a trading volume of 11,390,632 shares. The stock has a market capitalization of $792.27 billion, a P/E ratio of 17.414 and a beta of 1.27. The stock’s 50 day moving average price is $159.51 and its 200 day moving average price is $149.86. Apple Inc. has a 1-year low of $104.08 and a 1-year high of $164.94.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 earnings per share. Analysts expect that Apple Inc. will post $9.00 EPS for the current fiscal year.
In other news, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders sold 432,930 shares of company stock worth $69,008,577 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.
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.
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.