Pensionfund Sabic reduced its position in Apple Inc. (NASDAQ:AAPL) by 27.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,700 shares of the iPhone maker’s stock after selling 20,800 shares during the period. Apple comprises about 2.4% of Pensionfund Sabic’s investment portfolio, making the stock its largest position. Pensionfund Sabic’s holdings in Apple were worth $7,858,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in AAPL. Wsfs Capital Management LLC purchased a new position in shares of Apple during the fourth quarter valued at $1,655,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Apple during the fourth quarter valued at $19,995,000. Kentucky Retirement Systems purchased a new position in shares of Apple during the fourth quarter valued at $44,815,000. Pegasus Partners Ltd. increased its position in Apple by 4.4% in the fourth quarter. Pegasus Partners Ltd. now owns 53,182 shares of the iPhone maker’s stock valued at $6,160,000 after buying an additional 2,231 shares during the period. Finally, Auxier Asset Management increased its position in Apple by 6.6% in the fourth quarter. Auxier Asset Management now owns 8,055 shares of the iPhone maker’s stock valued at $933,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 61.26% of the company’s stock.
Shares of Apple Inc. (AAPL) traded up 2.86% during trading on Monday, reaching $146.34. The company’s stock had a trading volume of 32,537,945 shares. The firm has a market cap of $762.99 billion, a PE ratio of 17.17 and a beta of 1.28. The company’s 50 day moving average price is $151.22 and its 200 day moving average price is $135.17. Apple Inc. has a 12 month low of $91.50 and a 12 month high of $156.65.
Apple (NASDAQ:AAPL) last released its quarterly 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 return on equity of 35.09% and a net margin of 20.74%. The firm had revenue of $52.90 billion for the quarter, compared to analyst estimates of $52.61 billion. On average, equities analysts predict that Apple Inc. will post $8.94 earnings per share for the current year.
AAPL has been the subject of a number of analyst reports. Morgan Stanley increased their price target on shares of Apple from $150.00 to $154.00 and gave the company an “overweight” rating in a report on Tuesday, February 21st. Deutsche Bank AG set a $125.00 price objective on shares of Apple and gave the stock a “neutral” rating in a research report on Tuesday, February 21st. Vetr raised shares of Apple from a “hold” rating to a “buy” rating and set a $142.25 price objective on the stock in a research report on Tuesday, February 21st. Oppenheimer Holdings, Inc. reaffirmed a “” rating on shares of Apple in a research report on Wednesday, February 22nd. Finally, BMO Capital Markets raised their target price on shares of Apple from $142.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Ten investment analysts have rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $160.83.
In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $155.32, for a total value of $1,855,918.68. Following the sale, the insider now owns 13,049 shares in the company, valued at approximately $2,026,770.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip W. Schiller sold 47,796 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $143.32, for a total value of $6,850,122.72. Following the completion of the sale, the insider now owns 94,010 shares in the company, valued at approximately $13,473,513.20. The disclosure for this sale can be found here. Insiders sold a total of 447,411 shares of company stock worth $67,200,745 in the last quarter. Corporate insiders own 0.08% of the company’s stock.
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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