Dorsey Wright & Associates raised its stake in Apple Inc. (NASDAQ:AAPL) by 9.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,205 shares of the iPhone maker’s stock after acquiring an additional 270 shares during the period. Dorsey Wright & Associates’ holdings in Apple were worth $593,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Marcus Capital LLC grew its stake in shares of Apple by 6.8% in the 1st quarter. Marcus Capital LLC now owns 4,342 shares of the iPhone maker’s stock worth $729,000 after buying an additional 275 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its stake in shares of Apple by 0.5% in the 1st quarter. Canandaigua National Bank & Trust Co. now owns 51,711 shares of the iPhone maker’s stock worth $8,676,000 after buying an additional 280 shares in the last quarter. TLP Group LLC grew its stake in shares of Apple by 25.3% in the 1st quarter. TLP Group LLC now owns 1,385 shares of the iPhone maker’s stock worth $232,000 after buying an additional 280 shares in the last quarter. Winthrop Partners WNY LLC grew its stake in shares of Apple by 3.6% in the 1st quarter. Winthrop Partners WNY LLC now owns 8,222 shares of the iPhone maker’s stock worth $1,398,000 after buying an additional 282 shares in the last quarter. Finally, Chemical Bank grew its stake in shares of Apple by 0.3% in the 4th quarter. Chemical Bank now owns 92,548 shares of the iPhone maker’s stock worth $15,662,000 after buying an additional 299 shares in the last quarter. Institutional investors own 58.58% of the company’s stock.
Shares of NASDAQ:AAPL traded up $7.66 during trading hours on Friday, hitting $222.11. The company’s stock had a trading volume of 39,486,990 shares, compared to its average volume of 31,432,369. Apple Inc. has a 52 week low of $150.24 and a 52 week high of $233.47. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. The firm has a market cap of $1,109.54 billion, a P/E ratio of 24.12, a P/E/G ratio of 1.99 and a beta of 1.36.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, beating the consensus estimate of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The business had revenue of $53.27 billion during the quarter, compared to analyst estimates of $52.43 billion. During the same quarter in the previous year, the business posted $1.67 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 11.76 EPS for the current fiscal year.
A number of equities analysts have commented on AAPL shares. Royal Bank of Canada set a $240.00 price objective on shares of Apple and gave the stock a “buy” rating in a research note on Monday, September 24th. Wells Fargo & Co reaffirmed a “neutral” rating and set a $210.00 price target on shares of Apple in a research note on Friday, August 10th. JPMorgan Chase & Co. assumed coverage on shares of Apple in a research note on Thursday, September 27th. They set an “overweight” rating and a $272.00 price target for the company. Morgan Stanley lifted their price target on shares of Apple from $214.00 to $232.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 24th. Finally, Oppenheimer reaffirmed a “neutral” rating on shares of Apple in a research note on Monday, October 1st. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirty have given a buy rating to the company’s stock. Apple has an average rating of “Buy” and an average target price of $221.63.
In related news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $206.58, for a total transaction of $4,131,600.00. Following the transaction, the director now owns 1,153,283 shares of the company’s stock, valued at approximately $238,245,202.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 564,185 shares of company stock valued at $124,444,213. Company insiders own 0.06% of the company’s stock.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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