Apple Inc. (AAPL) Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. decreased its stake in Apple Inc. (NASDAQ:AAPL) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,367 shares of the iPhone maker’s stock after selling 1,283 shares during the period. Apple comprises about 1.4% of Meridian Investment Counsel Inc.’s portfolio, making the stock its 17th largest position. Meridian Investment Counsel Inc.’s holdings in Apple were worth $2,127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Cullinan Associates Inc. increased its position in Apple by 0.6% in the third quarter. Cullinan Associates Inc. now owns 196,464 shares of the iPhone maker’s stock valued at $22,210,000 after buying an additional 1,231 shares in the last quarter. Bath Savings Trust Co increased its position in Apple by 0.4% in the third quarter. Bath Savings Trust Co now owns 125,702 shares of the iPhone maker’s stock valued at $14,210,000 after buying an additional 547 shares in the last quarter. LVM Capital Management Ltd. MI increased its position in Apple by 2.3% in the third quarter. LVM Capital Management Ltd. MI now owns 169,298 shares of the iPhone maker’s stock valued at $15,733,000 after buying an additional 3,850 shares in the last quarter. CT Mason increased its position in Apple by 10.7% in the third quarter. CT Mason now owns 52,146 shares of the iPhone maker’s stock valued at $5,895,000 after buying an additional 5,060 shares in the last quarter. Finally, Washington Trust Bank increased its position in Apple by 2.4% in the third quarter. Washington Trust Bank now owns 58,908 shares of the iPhone maker’s stock valued at $6,660,000 after buying an additional 1,354 shares in the last quarter. 58.76% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Shares of Apple Inc. (NASDAQ:AAPL) opened at 141.46 on Tuesday. The stock has a market capitalization of $742.18 billion, a price-to-earnings ratio of 16.98 and a beta of 1.26. The company has a 50-day moving average price of $134.83 and a 200-day moving average price of $119.06. Apple Inc. has a 52-week low of $89.47 and a 52-week high of $141.50.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, January 31st. The iPhone maker reported $3.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.14. Apple had a return on equity of 34.94% and a net margin of 20.73%. The business had revenue of $78.35 billion for the quarter, compared to the consensus estimate of $77.37 billion. During the same period in the previous year, the company posted $3.28 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post $8.94 earnings per share for the current year.

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Several research firms have recently issued reports on AAPL. Cowen and Company reaffirmed an “outperform” rating and issued a $155.00 price objective (up previously from $135.00) on shares of Apple in a research note on Thursday, March 16th. Bank of America Corp upped their price objective on Apple from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, March 16th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $155.00 price objective on shares of Apple in a research note on Monday. Pacific Crest reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of Apple in a research note on Friday. Finally, Citigroup Inc upped their price objective on Apple from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, March 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-eight 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 $140.24.

In other Apple news, insider Luca Maestri sold 2,300 shares of the business’s stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $117.67, for a total value of $270,641.00. Following the sale, the insider now directly owns 4,632 shares of the company’s stock, valued at $545,047.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johny Srouji sold 13,207 shares of the business’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $136.37, for a total value of $1,801,038.59. Following the completion of the sale, the insider now directly owns 98,012 shares in the company, valued at $13,365,896.44. The disclosure for this sale can be found here. Insiders sold 403,844 shares of company stock worth $51,434,527 over the last three months. Corporate insiders own 0.08% of the company’s stock.

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.

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