Apple Inc. (AAPL) Position Cut by Eqis Capital Management Inc.
Eqis Capital Management Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,005 shares of the iPhone maker’s stock after selling 3,576 shares during the period. Apple accounts for 0.5% of Eqis Capital Management Inc.’s portfolio, making the stock its 26th largest position. Eqis Capital Management Inc.’s holdings in Apple were worth $7,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Hefty Wealth Partners increased its stake in Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares during the last quarter. American Beacon Advisors Inc. bought a new stake in Apple during the first quarter valued at $117,000. State of Alaska Department of Revenue bought a new position in shares of Apple during the second quarter worth about $149,000. Portfolio Solutions LLC bought a new position in shares of Apple during the first quarter worth about $169,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Apple during the first quarter worth about $201,000. 60.33% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on AAPL shares. Drexel Hamilton restated a “buy” rating and set a $202.00 price target on shares of Apple in a research report on Thursday, July 6th. Barclays PLC restated a “hold” rating and set a $146.00 price target on shares of Apple in a research report on Monday, September 4th. Instinet restated a “buy” rating and set a $165.00 price target on shares of Apple in a research report on Wednesday, July 5th. Royal Bank Of Canada restated an “outperform” rating and set a $180.00 price target on shares of Apple in a research report on Monday, September 11th. Finally, Morgan Stanley restated an “overweight” rating and set a $194.00 price target (up previously from $182.00) on shares of Apple in a research report on Tuesday, September 12th. Seven investment analysts have rated the stock with a hold rating and forty-seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $190.46.
Shares of Apple Inc. (NASDAQ AAPL) traded down 0.20% during trading on Wednesday, hitting $160.15. 8,601,084 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 firm has a market cap of $827.21 billion, a PE ratio of 18.18 and a beta of 1.27. The company’s 50 day moving average is $157.58 and its 200 day moving average is $151.69.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) 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 firm 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 firm earned $1.42 earnings per share. Apple’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post $9.01 EPS for the current year.
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In related news, insider Philip W. Schiller sold 56,808 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total value of $8,788,197.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 541,177 shares of company stock valued at $85,864,804. 0.08% of the stock is owned by 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.
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