Mathes Company Inc. raised its position in Apple Inc. (NASDAQ:AAPL) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 62,071 shares of the iPhone maker’s stock after buying an additional 515 shares during the period. Apple makes up approximately 4.3% of Mathes Company Inc.’s portfolio, making the stock its 2nd largest position. Mathes Company Inc.’s holdings in Apple were worth $8,939,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. Fairview Capital Investment Management LLC raised its position in shares of Apple by 2.7% in the fourth quarter. Fairview Capital Investment Management LLC now owns 13,481 shares of the iPhone maker’s stock valued at $1,561,000 after buying an additional 350 shares during the period. Norges Bank purchased a new position in shares of Apple during the fourth quarter valued at approximately $5,625,709,000. Perigon Wealth Management LLC raised its position in shares of Apple by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock valued at $20,613,000 after buying an additional 8,233 shares during the period. IFM Investors Pty Ltd purchased a new position in shares of Apple during the fourth quarter valued at approximately $7,910,000. Finally, RB Capital Management LLC purchased a new position in shares of Apple during the fourth quarter valued at approximately $5,793,000. Institutional investors and hedge funds own 61.21% of the company’s stock.
Shares of Apple Inc. (NASDAQ AAPL) opened at 150.27 on Friday. Apple Inc. has a 12 month low of $96.42 and a 12 month high of $156.65. The firm has a market capitalization of $783.48 billion, a P/E ratio of 17.63 and a beta of 1.31. The firm’s 50-day moving average price is $147.46 and its 200 day moving average price is $140.51.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. Apple had a net margin of 20.74% and a return on equity of 35.09%. The business had revenue of $52.90 billion during the quarter, compared to analysts’ expectations of $52.61 billion. Analysts anticipate that Apple Inc. will post $8.91 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
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AAPL has been the topic of several recent research reports. UBS AG increased their price objective on Apple from $165.00 to $200.00 in a research report on Sunday, April 2nd. Bank of America Corporation reiterated a “buy” rating and set a $180.00 price objective (up from $155.00) on shares of Apple in a research report on Friday, May 12th. Mizuho reiterated a “buy” rating and set a $150.00 price objective on shares of Apple in a research report on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) set a $170.00 price objective on Apple and gave the company a “buy” rating in a research report on Saturday, May 20th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $140.00 price objective on shares of Apple in a research report on Friday, April 28th. Eleven research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $160.38.
In other news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela J. Ahrendts sold 75,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $147.98, for a total transaction of $11,098,500.00. Following the completion of the sale, the insider now directly owns 154,116 shares of the company’s stock, valued at $22,806,085.68. The disclosure for this sale can be found here. Insiders sold 373,000 shares of company stock valued at $56,497,046 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.
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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