Cardinal Capital Management grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 41,097 shares of the iPhone maker’s stock after purchasing an additional 1,160 shares during the period. Apple makes up approximately 2.0% of Cardinal Capital Management’s holdings, making the stock its 8th largest position. Cardinal Capital Management’s holdings in Apple were worth $5,919,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Saratoga Research & Investment Management raised its holdings in Apple by 0.6% in the 1st quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after acquiring an additional 4,137 shares during the last quarter. Pinnacle Bank purchased a new position in Apple in the 1st quarter worth approximately $1,924,000. Green Square Capital LLC raised its holdings in Apple by 6.7% in the 1st quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after acquiring an additional 5,491 shares during the last quarter. Headinvest LLC raised its holdings in Apple by 2.5% in the 2nd quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after acquiring an additional 390 shares during the last quarter. Finally, Lederer & Associates Investment Counsel CA raised its holdings in Apple by 2.1% in the 2nd quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock worth $5,377,000 after acquiring an additional 779 shares during the last quarter. Hedge funds and other institutional investors own 60.33% of the company’s stock.
In other Apple news, SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction dated 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 transaction, the senior vice president now owns 76,250 shares of the company’s stock, valued at approximately $12,367,750. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 541,177 shares of company stock worth $85,864,804. Company insiders own 0.08% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $187.00 price objective for the company in a report on Tuesday. Piper Jaffray Companies restated a “buy” rating and issued a $200.00 price objective (up from $196.00) on shares of Apple in a report on Tuesday. Vetr lowered shares of Apple from a “buy” rating to a “hold” rating and set a $171.48 price objective for the company. in a report on Monday. Drexel Hamilton restated a “buy” rating and issued a $208.00 price objective on shares of Apple in a report on Monday. Finally, Maxim Group restated a “buy” rating and issued a $193.00 price objective on shares of Apple in a report on Friday, October 27th. Eight investment analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $193.36.
Apple Inc. (NASDAQ AAPL) opened at 169.04 on Wednesday. The stock’s 50 day moving average is $157.08 and its 200 day moving average is $153.07. Apple Inc. has a one year low of $104.08 and a one year high of $169.65. The stock has a market capitalization of $873.13 billion, a price-to-earnings ratio of 19.19 and a beta of 1.27.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same quarter in the previous year, the business posted $1.42 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post $9.00 EPS for the current year.
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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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