Boston Advisors LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 23.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 695,956 shares of the iPhone maker’s stock after selling 215,273 shares during the period. Apple comprises 3.2% of Boston Advisors LLC’s portfolio, making the stock its 4th biggest position. Boston Advisors LLC’s holdings in Apple were worth $128,828,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. B. Riley Financial Inc. raised its position in Apple by 27.6% during the 1st quarter. B. Riley Financial Inc. now owns 17,412 shares of the iPhone maker’s stock valued at $2,921,000 after purchasing an additional 3,770 shares in the last quarter. Roof Advisory Group Inc. raised its position in Apple by 44.0% during the 1st quarter. Roof Advisory Group Inc. now owns 42,322 shares of the iPhone maker’s stock valued at $7,101,000 after purchasing an additional 12,930 shares in the last quarter. Mizuho Securities USA LLC bought a new stake in Apple during the 1st quarter valued at $1,477,000. Viridian Ria LLC bought a new stake in Apple during the 1st quarter valued at $525,000. Finally, Turim 21 Investimentos Ltda. raised its position in Apple by 5.1% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 59,421 shares of the iPhone maker’s stock valued at $9,970,000 after purchasing an additional 2,906 shares in the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.
Shares of AAPL stock opened at $222.11 on Friday. Apple Inc. has a 1-year low of $150.24 and a 1-year high of $233.47. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1,109.54 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 1.99 and a beta of 1.36.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.18 by $0.16. Apple had a return on equity of 43.50% and a net margin of 21.98%. The firm had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $52.43 billion. During the same period in the previous year, the business earned $1.67 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 11.76 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the company. Atlantic Securities reaffirmed a “neutral” rating and set a $205.00 target price on shares of Apple in a research report on Wednesday, August 1st. BMO Capital Markets lifted their target price on Apple from $184.00 to $199.00 and gave the company a “market perform” rating in a research report on Wednesday, August 1st. They noted that the move was a valuation call. UBS Group set a $250.00 price target on Apple and gave the company a “buy” rating in a report on Monday, October 8th. Macquarie reiterated a “buy” rating and issued a $214.00 price target on shares of Apple in a report on Wednesday, August 1st. Finally, Sanford C. Bernstein reiterated a “neutral” rating and issued a $200.00 price target on shares of Apple in a report on Wednesday, August 1st. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirty have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $221.63.
In other Apple news, Director Arthur D. Levinson sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 1,153,283 shares in the company, valued at approximately $238,245,202.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 564,185 shares of company stock worth $124,444,213. 0.06% of the stock is owned by company insiders.
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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