Edmp Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,730 shares of the iPhone maker’s stock after selling 904 shares during the quarter. Apple comprises approximately 5.8% of Edmp Inc.’s portfolio, making the stock its biggest position. Edmp Inc.’s holdings in Apple were worth $6,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of the company. Stonehearth Capital Management LLC increased its holdings in shares of Apple by 0.8% during the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock valued at $342,000 after acquiring an additional 20 shares in the last quarter. Lenox Wealth Advisors Inc. boosted its position in shares of Apple by 0.4% during the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after buying an additional 20 shares during the last quarter. Sippican Capital Advisors boosted its position in shares of Apple by 0.5% during the first quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock valued at $706,000 after buying an additional 26 shares during the last quarter. Cordasco Financial Network boosted its position in shares of Apple by 1.5% during the second quarter. Cordasco Financial Network now owns 3,233 shares of the iPhone maker’s stock valued at $466,000 after buying an additional 49 shares during the last quarter. Finally, Lbmc Investment Advisors LLC boosted its position in shares of Apple by 1.1% during the first quarter. Lbmc Investment Advisors LLC now owns 5,386 shares of the iPhone maker’s stock valued at $774,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 60.36% of the company’s stock.
Apple (NASDAQ:AAPL) last issued its quarterly 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. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. Apple’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 EPS.
In other Apple news, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $157.58, for a total value of $5,515,300.00. Following the completion of the transaction, the director now owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The disclosure for this sale can be found here. Insiders sold a total of 541,177 shares of company stock valued at $85,864,804 over the last quarter. 0.08% of the stock is currently owned by insiders.
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Several equities research analysts recently commented on the company. UBS AG reaffirmed a “buy” rating and set a $170.00 price objective on shares of Apple in a research report on Friday, June 23rd. Barclays PLC increased their price objective on Apple to $161.00 and gave the company an “equal weight” rating in a research report on Friday. Zacks Investment Research raised Apple from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research report on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $160.08 price objective (down from $176.00) on shares of Apple in a research report on Wednesday, August 9th. Finally, Longbow Research reaffirmed a “buy” rating and set a $173.00 price objective on shares of Apple in a research report on Friday, August 11th. Nine investment analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $189.73.
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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