Handelsinvest Investeringsforvaltning decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 21.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,247 shares of the iPhone maker’s stock after selling 1,700 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Apple were worth $1,048,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Oak Point Wealth Management purchased a new stake in shares of Apple during the 4th quarter valued at about $163,000. Stuart Chaussee & Associates Inc. increased its position in shares of Apple by 940.8% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 1,072 shares of the iPhone maker’s stock valued at $181,000 after purchasing an additional 969 shares during the last quarter. Interactive Financial Advisors purchased a new stake in shares of Apple during the 4th quarter valued at about $188,000. Delphi Private Advisors LLC increased its position in shares of Apple by 8,292.9% during the 4th quarter. Delphi Private Advisors LLC now owns 1,175 shares of the iPhone maker’s stock valued at $199,000 after purchasing an additional 1,161 shares during the last quarter. Finally, Financial & Investment Management Group Ltd. purchased a new stake in shares of Apple during the 4th quarter valued at about $204,000. 58.07% of the stock is owned by institutional investors and hedge funds.
AAPL has been the subject of several research reports. Maxim Group raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Thursday, May 31st. Morgan Stanley reduced their target price on shares of Apple from $203.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, April 20th. Monness Crespi & Hardt began coverage on shares of Apple in a report on Wednesday, April 11th. They issued a “buy” rating and a $235.00 target price for the company. Royal Bank of Canada set a $203.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, April 11th. Finally, Goldman Sachs Group set a $159.00 target price on shares of Apple and gave the stock a “neutral” rating in a report on Tuesday, April 3rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $207.20.
AAPL stock opened at $185.11 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.37 and a current ratio of 1.46. Apple Inc. has a twelve month low of $142.41 and a twelve month high of $194.20. The firm has a market capitalization of $939.25 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 1.52 and a beta of 1.29.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.04. Apple had a return on equity of 39.97% and a net margin of 21.55%. The business had revenue of $61.14 billion for the quarter, compared to analyst estimates of $60.94 billion. During the same quarter last year, the firm posted $2.10 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. sell-side analysts predict that Apple Inc. will post 11.42 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 11.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, insider Angela J. Ahrendts sold 6,568 shares of the firm’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $188.81, for a total transaction of $1,240,104.08. Following the transaction, the insider now owns 79,476 shares in the company, valued at $15,005,863.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Daniel J. Riccio sold 17,375 shares of the firm’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $169.12, for a total value of $2,938,460.00. Following the transaction, the senior vice president now owns 66,191 shares in the company, valued at approximately $11,194,221.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 279,074 shares of company stock worth $49,607,454. Insiders own 0.08% of the company’s stock.
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.
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.