United Bank bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,098 shares of the iPhone maker’s stock, valued at approximately $2,212,000. Apple accounts for about 2.3% of United Bank’s portfolio, making the stock its 11th largest position.
Several other hedge funds have also modified their holdings of the stock. Lawson Kroeker Investment Management Inc. NE purchased a new position in shares of Apple during the third quarter valued at about $243,000. Stokes & Hubbell Capital Management LLC raised its position in shares of Apple by 1.1% in the third quarter. Stokes & Hubbell Capital Management LLC now owns 46,794 shares of the iPhone maker’s stock valued at $5,290,000 after buying an additional 505 shares during the period. Oliver Luxxe Assets LLC raised its position in shares of Apple by 8.4% in the third quarter. Oliver Luxxe Assets LLC now owns 47,831 shares of the iPhone maker’s stock valued at $5,407,000 after buying an additional 3,712 shares during the period. Woodstock Corp raised its position in shares of Apple by 2.4% in the third quarter. Woodstock Corp now owns 62,122 shares of the iPhone maker’s stock valued at $7,023,000 after buying an additional 1,440 shares during the period. Finally, Deane Retirement Strategies Inc. raised its position in shares of Apple by 1.9% in the third quarter. Deane Retirement Strategies Inc. now owns 23,776 shares of the iPhone maker’s stock valued at $2,687,000 after buying an additional 452 shares during the period. Institutional investors own 58.76% of the company’s stock.
Apple Inc. (NASDAQ:AAPL) traded down 0.18% during midday trading on Friday, reaching $142.19. 2,494,357 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $141.36 and its 200 day moving average is $124.37. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $145.46. The firm has a market capitalization of $746.01 billion, a price-to-earnings ratio of 17.07 and a beta of 1.26.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, January 31st. The iPhone maker reported $3.36 EPS for the quarter, beating 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 firm earned $78.35 billion during the quarter, compared to the consensus estimate of $77.37 billion. During the same period in the prior year, the company earned $3.28 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post $8.95 earnings per share for the current year.
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Several brokerages have recently issued reports on AAPL. Rosenblatt Securities reissued a “neutral” rating and issued a $120.00 price target on shares of Apple in a report on Wednesday, March 29th. Drexel Hamilton reissued a “buy” rating and issued a $185.00 price target on shares of Apple in a report on Thursday, March 30th. Canaccord Genuity upped their target price on shares of Apple from $154.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, March 31st. Vetr lowered shares of Apple from a “buy” rating to a “hold” rating and set a $147.61 target price for the company. in a research note on Tuesday, March 28th. Finally, UBS Group AG upped their target price on shares of Apple from $165.00 to $200.00 in a research note on Sunday, April 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. Apple has an average rating of “Buy” and an average target price of $147.25.
In related news, SVP D Bruce Sewell sold 75,000 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $128.43, for a total value of $9,632,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 30,000 shares of the stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $120.14, for a total value of $3,604,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 436,644 shares of company stock valued at $57,294,327. 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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