First United Bank Trust Buys 761 Shares of Apple Inc. (AAPL)

First United Bank Trust increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 16,016 shares of the iPhone maker’s stock after buying an additional 761 shares during the period. Apple accounts for 1.6% of First United Bank Trust’s portfolio, making the stock its 16th largest position. First United Bank Trust’s holdings in Apple were worth $2,301,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Stonehearth Capital Management LLC raised its position in Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares during the last quarter. Noven Financial Group Inc. raised its position in Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock worth $857,000 after buying an additional 22 shares during the last quarter. Cordasco Financial Network raised its position in Apple by 1.0% in the first quarter. Cordasco Financial Network now owns 3,184 shares of the iPhone maker’s stock worth $457,000 after buying an additional 31 shares during the last quarter. Wall Street Access Asset Management LLC raised its position in Apple by 0.3% in the fourth quarter. Wall Street Access Asset Management LLC now owns 18,345 shares of the iPhone maker’s stock worth $2,124,000 after buying an additional 50 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. raised its position in Apple by 0.4% in the first quarter. Newman Dignan & Sheerar Inc. now owns 24,371 shares of the iPhone maker’s stock worth $3,501,000 after buying an additional 108 shares during the last quarter. 61.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of Apple Inc. (NASDAQ AAPL) opened at 147.77 on Friday. Apple Inc. has a 12-month low of $96.05 and a 12-month high of $156.65. The company’s 50 day moving average is $150.30 and its 200 day moving average is $137.42. The company has a market capitalization of $770.45 billion, a P/E ratio of 17.34 and a beta of 1.31.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the consensus estimate 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 expect that Apple Inc. will post $8.92 earnings per share for the current fiscal year.

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A number of equities analysts have weighed in on AAPL shares. Drexel Hamilton reiterated a “buy” rating and set a $202.00 price objective on shares of Apple in a research note on Thursday, July 6th. Cowen and Company reiterated an “outperform” rating and set a $155.00 price objective (up previously from $135.00) on shares of Apple in a research note on Thursday, March 16th. Instinet restated a “buy” rating and issued a $165.00 price target on shares of Apple in a research note on Wednesday, July 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $168.00 price target on shares of Apple in a research note on Tuesday, June 6th. Finally, Citigroup Inc. restated a “buy” rating and issued a $160.00 price target on shares of Apple in a research note on Thursday, April 6th. Eleven equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $160.97.

In other Apple news, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $155.32, for a total transaction of $1,855,918.68. Following the completion of the transaction, the insider now directly owns 13,049 shares of the company’s stock, valued at $2,026,770.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Luca Maestri sold 4,757 shares of Apple stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the transaction, the insider now directly owns 3,414 shares of the company’s stock, valued at $528,145.80. The disclosure for this sale can be found here. Insiders sold 379,308 shares of company stock valued at $57,391,709 over the last three months. 0.08% of the stock is owned by company insiders.

About Apple

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.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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