Spinnaker Trust lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 46,558 shares of the iPhone maker’s stock after purchasing an additional 309 shares during the period. Apple comprises approximately 0.8% of Spinnaker Trust’s holdings, making the stock its 22nd biggest position. Spinnaker Trust’s holdings in Apple were worth $6,705,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. FC Advisory LLC lifted its stake in shares of Apple by 0.4% in the 2nd quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock worth $371,000 after purchasing an additional 10 shares during the period. Lenox Wealth Advisors Inc. lifted its stake in shares of Apple by 0.4% in the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after purchasing an additional 20 shares during the period. BerganKDV Wealth Management LLC lifted its stake in shares of Apple by 0.4% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 5,614 shares of the iPhone maker’s stock worth $809,000 after purchasing an additional 20 shares during the period. Sippican Capital Advisors lifted its stake in shares of Apple by 0.5% in the 1st quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock worth $706,000 after purchasing an additional 26 shares during the period. Finally, Accurate Investment Solutions Inc. lifted its stake in shares of Apple by 0.4% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 6,600 shares of the iPhone maker’s stock worth $951,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 60.33% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) opened at 163.05 on Monday. The stock’s 50 day moving average price is $156.64 and its 200 day moving average price is $152.61. The firm has a market cap of $842.19 billion, a price-to-earnings ratio of 18.51 and a beta of 1.27. Apple Inc. has a 12 month low of $104.08 and a 12 month high of $164.94.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. Apple’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 earnings per share. Equities research analysts predict that Apple Inc. will post $9.00 earnings per share for the current fiscal year.
AAPL has been the topic of several recent research reports. UBS AG reiterated a “buy” rating and issued a $170.00 price objective on shares of Apple in a research note on Monday, July 31st. Wells Fargo & Company reiterated a “market perform” rating and issued a $140.00 price objective on shares of Apple in a research note on Saturday, July 22nd. KeyCorp restated an “equal weight” rating on shares of Apple in a research note on Friday, August 4th. Morgan Stanley raised their target price on shares of Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a research note on Monday, July 17th. Finally, Barclays PLC restated a “hold” rating and set a $146.00 target price on shares of Apple in a research note on Monday, September 4th. Seven investment analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $193.05.
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In other Apple news, SVP Johny Srouji sold 10,469 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the sale, the senior vice president now owns 76,250 shares in the company, valued at $12,367,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $157.58, for a total value of $5,515,300.00. Following the sale, the director now owns 1,168,283 shares in the company, valued at approximately $184,098,035.14. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock valued at $85,864,804 in the last three months. 0.08% of the stock is currently owned by company insiders.
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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