Iron Financial LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 11.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,324 shares of the iPhone maker’s stock after selling 2,620 shares during the quarter. Apple comprises about 2.4% of Iron Financial LLC’s holdings, making the stock its 9th largest position. Iron Financial LLC’s holdings in Apple were worth $3,132,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. purchased a new position in Apple during the second quarter worth about $400,000. Blue Sky Asset Management LLC purchased a new position in Apple during the second quarter worth about $108,000. FNY Managed Accounts LLC grew its position in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares in the last quarter. Hefty Wealth Partners grew its position in Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares in the last quarter. Finally, Armbruster Capital Management Inc. grew its position in Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after buying an additional 78 shares in the last quarter. Institutional investors own 59.61% of the company’s stock.
Several equities analysts recently commented on AAPL shares. Drexel Hamilton restated a “buy” rating and set a $208.00 target price on shares of Apple in a research report on Tuesday, October 24th. Citigroup restated a “buy” rating and set a $200.00 target price on shares of Apple in a research report on Wednesday, December 13th. Piper Jaffray Companies restated a “buy” rating and set a $200.00 target price (up from $196.00) on shares of Apple in a research report on Tuesday, October 31st. Barclays set a $146.00 target price on Apple and gave the stock a “neutral” rating in a research report on Wednesday, September 13th. Finally, Vetr cut Apple from a “buy” rating to a “hold” rating and set a $171.48 target price for the company. in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Apple presently has an average rating of “Buy” and a consensus target price of $198.70.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 EPS. equities analysts anticipate that Apple Inc. will post 11.18 earnings per share for the current fiscal year.
In other news, SVP Johny Srouji sold 5,760 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the transaction, the senior vice president now directly owns 81,560 shares of the company’s stock, valued at approximately $14,224,064. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total value of $2,695,726.35. Following the transaction, the insider now directly owns 39,682 shares in the company, valued at $6,839,192.70. The disclosure for this sale can be found here. Insiders sold a total of 112,771 shares of company stock worth $19,381,421 over the last ninety days. 0.08% of the stock is currently owned by insiders.
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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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