Meridian Investment Counsel Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.5% during the fourth quarter, Holdings Channel reports. The fund owned 18,367 shares of the iPhone maker’s stock after selling 1,283 shares during the period. Apple makes up approximately 1.4% of Meridian Investment Counsel Inc.’s portfolio, making the stock its 17th largest position. Meridian Investment Counsel Inc.’s holdings in Apple were worth $2,127,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in AAPL. Bailard Inc. raised its position in shares of Apple by 23.2% in the third quarter. Bailard Inc. now owns 181,502 shares of the iPhone maker’s stock worth $20,519,000 after buying an additional 34,162 shares during the last quarter. LGT Capital Partners LTD. raised its position in shares of Apple by 10.4% in the third quarter. LGT Capital Partners LTD. now owns 140,020 shares of the iPhone maker’s stock worth $15,829,000 after buying an additional 13,140 shares during the last quarter. Stanford Investment Group Inc. raised its position in shares of Apple by 25.9% in the fourth quarter. Stanford Investment Group Inc. now owns 98,014 shares of the iPhone maker’s stock worth $11,352,000 after buying an additional 20,176 shares during the last quarter. CFO4Life L.P. raised its position in shares of Apple by 3.3% in the third quarter. CFO4Life L.P. now owns 21,036 shares of the iPhone maker’s stock worth $2,378,000 after buying an additional 670 shares during the last quarter. Finally, 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 worth $7,023,000 after buying an additional 1,440 shares during the last quarter. 58.76% of the stock is owned by institutional investors.
Shares of Apple Inc. (NASDAQ:AAPL) opened at 141.46 on Tuesday. The firm has a market cap of $742.18 billion, a PE ratio of 16.98 and a beta of 1.26. The stock has a 50 day moving average price of $134.83 and a 200-day moving average price of $119.06. Apple Inc. has a 52-week low of $89.47 and a 52-week high of $141.50.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, January 31st. The iPhone maker reported $3.36 EPS for the quarter, beating the consensus estimate of $3.22 by $0.14. The firm had revenue of $78.35 billion for the quarter, compared to analyst estimates of $77.37 billion. Apple had a return on equity of 34.94% and a net margin of 20.73%. Apple’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.28 earnings per share. On average, equities analysts anticipate that Apple Inc. will post $8.94 EPS for the current fiscal year.
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A number of equities analysts recently commented on AAPL shares. Robert W. Baird reissued an “outperform” rating and set a $133.00 price target on shares of Apple in a research note on Tuesday, January 24th. Drexel Hamilton reissued a “buy” rating and set a $185.00 price target on shares of Apple in a research note on Thursday, December 8th. Vetr raised Apple from a “buy” rating to a “strong-buy” rating and set a $133.51 price target for the company in a research note on Tuesday, January 10th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Apple in a research note on Tuesday, January 24th. Finally, Stifel Nicolaus reissued a “reduce” rating and set a $115.00 price target on shares of Apple in a research note on Monday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $140.24.
In related news, insider Luca Maestri sold 2,300 shares of the stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $117.67, for a total value of $270,641.00. Following the transaction, the insider now owns 4,632 shares of the company’s stock, valued at $545,047.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johny Srouji sold 13,207 shares of the stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $136.37, for a total value of $1,801,038.59. Following the completion of the transaction, the insider now directly owns 98,012 shares in the company, valued at approximately $13,365,896.44. The disclosure for this sale can be found here. Insiders sold 403,844 shares of company stock worth $51,434,527 in the last three months. 0.08% of the stock is currently 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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