Clear Harbor Asset Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,180 shares of the iPhone maker’s stock after selling 2,038 shares during the period. Apple makes up approximately 2.8% of Clear Harbor Asset Management LLC’s portfolio, making the stock its 4th biggest holding. Clear Harbor Asset Management LLC’s holdings in Apple were worth $14,892,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of AAPL. Hefty Wealth Partners increased its position in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares during the last quarter. American Beacon Advisors Inc. bought a new position in shares of Apple in the first quarter worth approximately $117,000. State of Alaska Department of Revenue bought a new position in shares of Apple in the second quarter worth approximately $149,000. Portfolio Solutions LLC bought a new position in shares of Apple in the first quarter worth approximately $169,000. Finally, D. Scott Neal Inc. increased its position in shares of Apple by 19.8% in the second quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 60.36% of the company’s stock.
AAPL has been the topic of several research analyst reports. BidaskClub cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Morgan Stanley reiterated an “overweight” rating and set a $177.00 price target on shares of Apple in a research report on Friday, June 16th. Cowen and Company reiterated an “outperform” rating and set a $160.00 price target on shares of Apple in a research report on Friday, June 16th. Barclays PLC reiterated an “equal weight” rating and set a $123.00 price target on shares of Apple in a research report on Friday, June 16th. Finally, Maxim Group increased their price target on shares of Apple from $171.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 19th. Nine investment analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $189.73.
In other Apple news, insider Philip W. Schiller sold 56,808 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total transaction of $8,788,197.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold a total of 541,177 shares of company stock valued at $85,864,804 over the last ninety days. 0.08% of the stock is owned by company insiders.
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Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 EPS.
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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