Alta Capital Management LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 629,887 shares of the iPhone maker’s stock after selling 16,985 shares during the period. Apple makes up approximately 6.3% of Alta Capital Management LLC’s holdings, making the stock its biggest position. Alta Capital Management LLC’s holdings in Apple were worth $97,078,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Fairfield Bush & CO. increased its stake in shares of Apple by 21.5% in the first quarter. Fairfield Bush & CO. now owns 46,940 shares of the iPhone maker’s stock worth $6,743,000 after purchasing an additional 8,300 shares during the period. Jaffetilchin Investment Partners LLC increased its stake in shares of Apple by 2.0% in the first quarter. Jaffetilchin Investment Partners LLC now owns 43,345 shares of the iPhone maker’s stock worth $6,227,000 after purchasing an additional 848 shares during the period. Zweig DiMenna Associates LLC increased its stake in shares of Apple by 69.1% in the first quarter. Zweig DiMenna Associates LLC now owns 147,560 shares of the iPhone maker’s stock worth $21,198,000 after purchasing an additional 60,292 shares during the period. Blue Chip Partners Inc. increased its stake in shares of Apple by 1.5% in the first quarter. Blue Chip Partners Inc. now owns 23,941 shares of the iPhone maker’s stock worth $3,439,000 after purchasing an additional 350 shares during the period. Finally, Grand Jean Capital Management Inc. increased its stake in shares of Apple by 19.8% in the first quarter. Grand Jean Capital Management Inc. now owns 123,804 shares of the iPhone maker’s stock worth $17,786,000 after purchasing an additional 20,482 shares during the period. 59.61% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on AAPL shares. Drexel Hamilton reiterated a “buy” rating and issued a $208.00 price objective on shares of Apple in a research note on Tuesday, October 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $200.00 price objective (up from $196.00) on shares of Apple in a research note on Tuesday, October 31st. Barclays set a $146.00 price objective on Apple and gave the stock a “neutral” rating in a research note on Wednesday, September 13th. Vetr lowered Apple from a “buy” rating to a “hold” rating and set a $171.48 price objective on the stock. in a research note on Monday, October 30th. Finally, Nomura set a $185.00 price objective on Apple and gave the stock a “buy” rating in a research note on Monday, November 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $198.61.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the Zacks’ 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 business had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter in the prior year, the company earned $1.50 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. research analysts expect that Apple Inc. will post 11.18 earnings per share for the current year.
In related news, insider Eduardo H. Cue sold 65,361 shares of the company’s 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $169.69, for a total transaction of $2,654,121.29. Following the completion of the sale, the insider now owns 17,341 shares of the company’s stock, valued at approximately $2,942,594.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,967 shares of company stock valued at $37,944,683. 0.08% of the stock is owned by corporate insiders.
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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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