Granite Investment Advisors LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the third quarter, Holdings Channel reports. The institutional investor owned 94,437 shares of the iPhone maker’s stock after selling 1,260 shares during the quarter. Apple comprises approximately 2.6% of Granite Investment Advisors LLC’s holdings, making the stock its 7th largest position. Granite Investment Advisors LLC’s holdings in Apple were worth $14,555,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its position in shares of Apple by 301.3% during the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after purchasing an additional 15,018,790 shares during the period. Harbour Capital Advisors LLC boosted its position in shares of Apple by 14,030.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock worth $31,352,000 after purchasing an additional 4,483,360 shares during the period. Capital Research Global Investors boosted its position in shares of Apple by 15.0% during the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after purchasing an additional 3,845,363 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Apple by 200.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,765,574 shares of the iPhone maker’s stock worth $686,338,000 after purchasing an additional 3,178,809 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Apple by 25.3% during the 2nd quarter. Principal Financial Group Inc. now owns 10,582,632 shares of the iPhone maker’s stock worth $1,524,110,000 after purchasing an additional 2,138,928 shares during the period. Institutional investors and hedge funds own 60.17% of the company’s stock.
Shares of Apple Inc. (AAPL) opened at $177.09 on Friday. Apple Inc. has a one year low of $118.22 and a one year high of $177.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The company has a market cap of $909,240.00, a price-to-earnings ratio of 19.27, a P/E/G ratio of 1.43 and a beta of 1.23.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. During the same period last year, the business earned $1.50 EPS. Apple’s revenue for the quarter was up 12.2% compared to the same quarter last year. analysts predict that Apple Inc. will post 11.18 earnings per share for the current fiscal year.
Several brokerages have commented on AAPL. ValuEngine raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Piper Jaffray Companies reissued a “buy” rating and issued a $200.00 price target on shares of Apple in a research report on Tuesday, January 2nd. BMO Capital Markets reissued a “buy” rating and issued a $199.00 price target on shares of Apple in a research report on Wednesday, December 20th. Rosenblatt Securities set a $180.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Tuesday, December 26th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $195.00 price target on shares of Apple in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $198.94.
In other Apple news, insider Eduardo H. Cue sold 65,361 shares of Apple stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total value of $11,215,947.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total transaction of $2,695,726.35. Following the completion of the transaction, the insider now owns 39,682 shares in the company, valued at $6,839,192.70. The disclosure for this sale can be found here. Insiders have sold a total of 128,412 shares of company stock worth $22,115,155 over the last quarter. 0.06% of the stock is owned by company insiders.
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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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