Edmp Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,634 shares of the iPhone maker’s stock after selling 1,274 shares during the period. Apple comprises approximately 5.8% of Edmp Inc.’s investment portfolio, making the stock its largest position. Edmp Inc.’s holdings in Apple were worth $6,412,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of AAPL. Glacier Peak Capital LLC purchased a new position in Apple during the fourth quarter valued at about $127,000. Welch Investments LLC bought a new position in Apple during the fourth quarter worth $146,000. Odey Holdings AG boosted its position in Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares in the last quarter. Portfolio Solutions LLC bought a new position in Apple during the first quarter worth $169,000. Finally, Fox Run Management L.L.C. bought a new position in Apple during the first quarter worth $201,000. Hedge funds and other institutional investors own 61.23% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.70% during midday trading on Friday, reaching $149.50. The company had a trading volume of 17,213,653 shares. The firm has a market capitalization of $779.47 billion, a P/E ratio of 17.54 and a beta of 1.31. The company has a 50 day moving average price of $146.92 and a 200-day moving average price of $141.83. Apple Inc. has a one year low of $102.53 and a one year high of $156.65.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. The firm had revenue of $52.90 billion during the quarter, compared to analyst estimates of $52.61 billion. Apple had a net margin of 20.74% and a return on equity of 35.09%. On average, analysts anticipate that Apple Inc. will post $8.87 EPS for the current fiscal year.
Apple declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 2nd that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
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AAPL has been the subject of a number of research analyst reports. UBS AG upped their price objective on shares of Apple from $165.00 to $200.00 in a research report on Sunday, April 2nd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $150.00 target price on shares of Apple in a report on Tuesday, April 18th. Zacks Investment Research raised shares of Apple from a “hold” rating to a “buy” rating and set a $161.00 target price for the company in a report on Tuesday, April 11th. Atlantic Securities reaffirmed a “buy” rating and set a $165.00 target price on shares of Apple in a report on Friday, April 7th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $160.00 target price on shares of Apple in a report on Thursday, April 6th. Twelve analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $161.67.
In other news, insider Luca Maestri sold 4,757 shares of Apple stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $154.70, for a total transaction of $735,907.90. Following the completion of the sale, the insider now directly owns 3,414 shares of the company’s stock, valued at approximately $528,145.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. The disclosure for this sale can be found here. Insiders have sold a total of 373,000 shares of company stock valued at $56,497,046 over the last 90 days. Company insiders own 0.08% of the company’s stock.
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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