Apple Inc. (AAPL) Position Boosted by Berkshire Asset Management LLC PA
Berkshire Asset Management LLC PA increased its holdings in Apple Inc. (NASDAQ:AAPL) by 6.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,404 shares of the iPhone maker’s stock after buying an additional 1,157 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Apple were worth $2,651,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of AAPL. Hefty Wealth Partners raised its position in shares of Apple by 27.6% during 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 in the last quarter. American Beacon Advisors Inc. acquired a new stake in shares of Apple in the 1st quarter worth approximately $117,000. State of Alaska Department of Revenue acquired a new stake in shares of Apple in the 2nd quarter worth approximately $149,000. Portfolio Solutions LLC acquired a new stake in shares of Apple in the 1st quarter worth approximately $169,000. Finally, D. Scott Neal Inc. lifted its stake in shares of 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 acquiring an additional 200 shares during the period. 60.36% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on the stock. UBS AG set a $170.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Tuesday, June 6th. Deutsche Bank AG reissued a “hold” rating and set a $130.00 target price on shares of Apple in a report on Tuesday, June 6th. Credit Suisse Group restated an “outperform” rating and issued a $170.00 target price on shares of Apple in a research report on Tuesday, June 6th. BMO Capital Markets restated an “outperform” rating and issued a $170.00 target price on shares of Apple in a research report on Tuesday, July 25th. Finally, Macquarie reaffirmed an “outperform” rating and set a $170.00 price target (up from $160.00) on shares of Apple in a research note on Tuesday, June 6th. 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 stock. The stock presently has an average rating of “Buy” and an average price target of $188.96.
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In related news, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the completion of the transaction, the insider now owns 70,358 shares in the company, valued at approximately $11,327,638. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold 432,930 shares of company stock worth $69,008,577 over the last three months. Corporate insiders own 0.08% of the company’s stock.
Apple Inc. (AAPL) traded up 0.53% during mid-day trading on Tuesday, hitting $154.62. The stock had a trading volume of 10,344,778 shares. The company has a market cap of $798.65 billion, a price-to-earnings ratio of 17.55 and a beta of 1.27. Apple Inc. has a 12 month low of $104.08 and a 12 month high of $164.94. The firm’s 50-day moving average is $158.62 and its 200 day moving average is $150.77.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. During the same quarter last year, the company posted $1.42 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post $9.01 EPS 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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