Marshwinds Advisory Co. Takes Position in Apple Inc. (AAPL)
Marshwinds Advisory Co. bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 1,890 shares of the iPhone maker’s stock, valued at approximately $272,000.
Several other large investors also recently made changes to their positions in the stock. Hefty Wealth Partners grew its position in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 174 shares in the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of Apple during the first quarter valued at approximately $117,000. Portfolio Solutions LLC purchased a new stake in shares of Apple during the first quarter valued at approximately $169,000. Fox Run Management L.L.C. purchased a new stake in shares of Apple during the first quarter valued at approximately $201,000. Finally, Beacon Capital Management Inc. raised its stake in shares of Apple by 40.1% during the second quarter. Beacon Capital Management Inc. now owns 1,443 shares of the iPhone maker’s stock valued at $208,000 after purchasing an additional 413 shares during the period. Institutional investors and hedge funds own 60.36% of the company’s stock.
A number of research analysts have recently commented on AAPL shares. Vetr cut shares of Apple from a “buy” rating to a “hold” rating and set a $161.57 target price on the stock. in a research report on Monday, June 5th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $170.00 price target on shares of Apple in a report on Monday, June 5th. Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 price target on shares of Apple in a report on Monday, June 5th. Credit Suisse Group reaffirmed an “outperform” rating and set a $170.00 price target on shares of Apple in a research note on Tuesday, June 6th. Finally, UBS AG set a $170.00 price target on shares of Apple and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Ten equities research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $188.96.
In other news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction on Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the completion of the sale, the senior vice president now owns 76,250 shares of the company’s stock, valued at approximately $12,367,750. The disclosure for this sale can be found here. Insiders have sold a total of 432,930 shares of company stock worth $69,008,577 over the last 90 days. Company insiders own 0.08% of the company’s stock.
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Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.60% during midday trading on Monday, hitting $153.20. 10,797,056 shares of the stock traded hands. Apple Inc. has a 52 week low of $104.08 and a 52 week high of $164.94. The stock has a market capitalization of $791.31 billion, a P/E ratio of 17.39 and a beta of 1.27. The firm has a 50-day moving average price of $159.51 and a 200-day moving average price of $149.86.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post $9.00 earnings per share for the current fiscal year.
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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