Merriman Wealth Management LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 18.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,124 shares of the iPhone maker’s stock after buying an additional 1,899 shares during the period. Merriman Wealth Management LLC’s holdings in Apple were worth $1,742,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Glacier Peak Capital LLC purchased a new position in Apple during the fourth quarter worth $127,000. Welch Investments LLC bought a new stake in shares of Apple during the fourth quarter worth about $146,000. Odey Holdings AG raised its stake in shares of Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares during the period. Portfolio Solutions LLC bought a new stake in shares of Apple during the first quarter worth about $169,000. Finally, Ullmann Financial Group Inc. bought a new stake in shares of Apple during the fourth quarter worth about $220,000. 61.23% of the stock is owned by hedge funds and other institutional investors.
Shares of Apple Inc. (AAPL) traded down 0.70% during mid-day trading on Friday, hitting $149.50. 17,213,653 shares of the stock traded hands. The stock has a market cap of $779.47 billion, a price-to-earnings ratio of 17.54 and a beta of 1.31. The firm’s 50-day moving average is $146.92 and its 200-day moving average is $141.83. Apple Inc. has a 52 week low of $102.53 and a 52 week high of $156.65.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $52.61 billion. On average, analysts forecast that Apple Inc. will post $8.87 earnings per share for the current year.
Apple declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 2nd that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 6.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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AAPL has been the topic of a number of recent analyst reports. UBS AG upped their target price on shares of Apple from $165.00 to $200.00 in a research note on Sunday, April 2nd. Bank of America Corporation reiterated a “buy” rating and set a $180.00 price objective (up previously from $155.00) on shares of Apple in a research note on Friday, May 12th. Wells Fargo & Company reiterated a “market perform” rating and set a $140.00 price objective on shares of Apple in a research note on Saturday, July 22nd. Mizuho reiterated a “buy” rating and set a $150.00 price objective on shares of Apple in a research note on Wednesday, May 3rd. Finally, Goldman Sachs Group, Inc. (The) set a $170.00 price objective on shares of Apple and gave the stock a “buy” rating in a research note on Saturday, May 20th. Twelve equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $161.67.
In related news, insider Luca Maestri sold 4,757 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 3,414 shares in the company, valued at $528,145.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 373,000 shares of company stock valued at $56,497,046. 0.08% of the stock is owned by corporate insiders.
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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