Apple Inc. (AAPL) Stake Lowered by Howland Capital Management LLC
Howland Capital Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,554 shares of the iPhone maker’s stock after selling 625 shares during the period. Howland Capital Management LLC’s holdings in Apple were worth $5,409,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Hefty Wealth Partners grew 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 valued at $115,000 after purchasing an additional 174 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in shares of Apple during the 1st quarter valued at $117,000. State of Alaska Department of Revenue purchased a new position in shares of Apple during the 2nd quarter valued at $149,000. Portfolio Solutions LLC purchased a new position in shares of Apple during the 1st quarter valued at $169,000. Finally, D. Scott Neal Inc. grew its position in shares of Apple by 19.8% during the 2nd quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 60.33% of the company’s stock.
In related news, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of the business’s stock in a transaction dated 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. Insiders sold a total of 541,177 shares of company stock valued at $85,864,804 in the last three months. 0.08% of the stock is currently owned by corporate insiders.
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Shares of Apple Inc. (AAPL) traded up 0.17% during midday trading on Friday, hitting $156.25. 23,974,146 shares of the company were exchanged. 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 $807.07 billion, a price-to-earnings ratio of 17.74 and a beta of 1.27. The company has a 50-day moving average price of $157.09 and a 200-day moving average price of $152.10.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $1.42 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post $9.01 EPS for the current year.
Several research analysts recently issued reports on AAPL shares. Mizuho set a $160.00 target price on shares of Apple and gave the stock a “hold” rating in a research report on Wednesday. KeyCorp upgraded shares of Apple from a “sector weight” rating to an “overweight” rating and upped their target price for the stock from $173.75 to $187.00 in a research report on Monday, October 16th. Pacific Crest upgraded shares of Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 target price for the company in a research report on Monday, October 16th. Rosenblatt Securities reiterated a “hold” rating and issued a $150.00 target price on shares of Apple in a research report on Sunday, October 15th. Finally, Barclays PLC upped their target price on shares of Apple to $161.00 and gave the stock an “equal weight” rating in a research report on Friday, October 13th. Seven equities research 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 a consensus rating of “Buy” and an average price target of $190.67.
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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