Apple Inc. (AAPL) Stake Boosted by Shikiar Asset Management Inc.
Shikiar Asset Management Inc. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,758 shares of the iPhone maker’s stock after buying an additional 1,360 shares during the period. Apple accounts for 6.3% of Shikiar Asset Management Inc.’s portfolio, making the stock its biggest position. Shikiar Asset Management Inc.’s holdings in Apple were worth $14,450,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Apple during the second quarter valued at approximately $400,000. Blue Sky Asset Management LLC bought a new stake in shares of Apple during the second quarter valued at approximately $108,000. FNY Managed Accounts LLC boosted its position in shares of Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares in the last quarter. Hefty Wealth Partners boosted its position in shares of 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 in the last quarter. Finally, Armbruster Capital Management Inc. boosted its position in shares of Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after purchasing an additional 78 shares in the last quarter. 59.62% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. BMO Capital Markets restated a “buy” rating and set a $199.00 price target on shares of Apple in a research report on Wednesday. Instinet lowered Apple from a “buy” rating to a “neutral” rating and set a $175.00 price target on the stock. in a research report on Tuesday. Nomura set a $175.00 price target on Apple and gave the company a “neutral” rating in a research report on Tuesday. Citigroup restated a “buy” rating and set a $200.00 price target on shares of Apple in a research report on Wednesday, December 13th. Finally, Stifel Nicolaus restated a “sell” rating and set a $26.00 price target (up from $22.00) on shares of Apple in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $197.22.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 earnings per share. research analysts expect that Apple Inc. will post 11.18 EPS for the current fiscal year.
In related news, insider Johny Srouji sold 10,368 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the sale, the insider now owns 81,560 shares in the company, valued at $14,246,900.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eduardo H. Cue sold 65,361 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 232,967 shares of company stock valued at $37,944,683. 0.08% of the stock is owned by company insiders.
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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