Peoples Financial Services CORP. raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 17,621 shares of the iPhone maker’s stock after buying an additional 10 shares during the period. Apple accounts for about 1.5% of Peoples Financial Services CORP.’s holdings, making the stock its 18th largest position. Peoples Financial Services CORP.’s holdings in Apple were worth $2,538,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new position in Apple during the fourth quarter valued at $5,625,709,000. Franklin Resources Inc. raised its position in Apple by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 25,455,705 shares of the iPhone maker’s stock valued at $2,948,422,000 after buying an additional 1,156,639 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Apple by 2.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 17,637,648 shares of the iPhone maker’s stock valued at $2,533,825,000 after buying an additional 471,057 shares during the last quarter. Fisher Asset Management LLC raised its position in Apple by 1.2% in the first quarter. Fisher Asset Management LLC now owns 11,638,395 shares of the iPhone maker’s stock valued at $1,671,972,000 after buying an additional 140,368 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock valued at $1,096,072,000 after buying an additional 8,571,027 shares during the last quarter. Institutional investors and hedge funds own 61.21% of the company’s stock.
Apple Inc. (NASDAQ AAPL) opened at 151.02 on Thursday. Apple Inc. has a 12-month low of $96.42 and a 12-month high of $156.65. The stock has a market cap of $787.39 billion, a price-to-earnings ratio of 17.72 and a beta of 1.31. The company’s 50 day moving average price is $147.52 and its 200-day moving average price is $140.44.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. Apple had a net margin of 20.74% and a return on equity of 35.09%. The business had revenue of $52.90 billion during the quarter, compared to the consensus estimate of $52.61 billion. On average, analysts forecast that Apple Inc. will post $8.91 EPS for the current year.
Apple declared that its board has initiated a stock repurchase plan on Tuesday, May 2nd that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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AAPL has been the topic of several recent research reports. Drexel Hamilton restated a “buy” rating and set a $202.00 target price on shares of Apple in a report on Thursday, July 6th. Instinet reiterated a “buy” rating and issued a $165.00 price objective on shares of Apple in a report on Wednesday, July 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $168.00 price objective on shares of Apple in a report on Tuesday, June 6th. Citigroup Inc. reiterated a “buy” rating and issued a $160.00 price objective on shares of Apple in a report on Thursday, April 6th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $170.00 price objective (up previously from $160.00) on shares of Apple in a report on Wednesday, May 17th. Eleven investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the stock. Apple has an average rating of “Buy” and a consensus target price of $160.38.
In other Apple news, insider Angela J. Ahrendts sold 75,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $147.98, for a total value of $11,098,500.00. Following the completion of the transaction, the insider now owns 154,116 shares in the company, valued at approximately $22,806,085.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Luca Maestri sold 4,757 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the completion of the transaction, the insider now owns 3,414 shares of the company’s stock, valued at approximately $528,145.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 373,000 shares of company stock valued at $56,497,046. Insiders own 0.08% of the company’s stock.
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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