Apple Inc. (NASDAQ:AAPL) Position Lifted by Core Alternative Capital
Core Alternative Capital grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 143.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,376 shares of the iPhone maker’s stock after buying an additional 14,376 shares during the quarter. Apple accounts for 2.2% of Core Alternative Capital’s portfolio, making the stock its 7th largest position. Core Alternative Capital’s holdings in Apple were worth $6,199,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd boosted its position in shares of Apple by 2,180.0% in the fourth quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock worth $33,000 after buying an additional 109 shares during the period. Stralem & Co. Inc. acquired a new position in Apple during the 1st quarter worth approximately $39,000. Sycomore Asset Management purchased a new position in Apple in the 1st quarter worth approximately $50,000. Heard Capital LLC purchased a new position in Apple in the 1st quarter worth approximately $51,000. Finally, University of Texas Texas AM Investment Managment Co. acquired a new stake in Apple in the fourth quarter valued at approximately $117,000. 62.04% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on the stock. Barclays restated a “neutral” rating and issued a $326.00 target price on shares of Apple in a research note on Friday, June 26th. UBS Group upped their price objective on shares of Apple from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Morgan Stanley lifted their target price on Apple from $326.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Deutsche Bank boosted their price target on Apple from $350.00 to $380.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Finally, Robert W. Baird raised their price objective on Apple from $320.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. Apple has an average rating of “Buy” and an average target price of $326.64.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.29. The firm had revenue of $58.31 billion for the quarter, compared to the consensus estimate of $54.64 billion. Apple had a net margin of 21.35% and a return on equity of 64.49%. Apple’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $2.46 EPS. Analysts predict that Apple Inc. will post 12.32 EPS for the current year.
In other Apple news, insider Chris Kondo sold 4,491 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the completion of the transaction, the insider now owns 7,370 shares in the company, valued at approximately $2,252,419.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Luca Maestri sold 41,062 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $264.44, for a total value of $10,858,435.28. Following the completion of the transaction, the chief financial officer now directly owns 65,427 shares of the company’s stock, valued at approximately $17,301,515.88. The disclosure for this sale can be found here. Insiders sold 54,690 shares of company stock worth $14,836,116 in the last 90 days. 0.05% of the stock is owned by company insiders.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
Featured Article: Trading Ex-Dividend
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.