Parthenon LLC Has $3.95 Million Stake in Apple Inc. (AAPL)

Parthenon LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,437 shares of the iPhone maker’s stock after buying an additional 1,631 shares during the quarter. Parthenon LLC’s holdings in Apple were worth $3,951,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sabal Trust CO increased its holdings in Apple by 2.9% in the 2nd quarter. Sabal Trust CO now owns 221,839 shares of the iPhone maker’s stock valued at $31,950,000 after purchasing an additional 6,265 shares during the last quarter. Brouwer & Janachowski LLC grew its stake in shares of Apple by 11.0% in the second quarter. Brouwer & Janachowski LLC now owns 7,841 shares of the iPhone maker’s stock worth $1,130,000 after acquiring an additional 778 shares in the last quarter. Patriot Wealth Management Inc. grew its stake in shares of Apple by 3.3% in the second quarter. Patriot Wealth Management Inc. now owns 103,762 shares of the iPhone maker’s stock worth $14,944,000 after acquiring an additional 3,334 shares in the last quarter. Baystate Wealth Management LLC grew its stake in shares of Apple by 23.4% in the second quarter. Baystate Wealth Management LLC now owns 10,395 shares of the iPhone maker’s stock worth $1,155,000 after acquiring an additional 1,971 shares in the last quarter. Finally, Gradient Investments LLC grew its stake in shares of Apple by 8.2% in the second quarter. Gradient Investments LLC now owns 14,782 shares of the iPhone maker’s stock worth $2,129,000 after acquiring an additional 1,122 shares in the last quarter. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have commented on AAPL shares. UBS AG restated a “buy” rating and issued a $170.00 price target on shares of Apple in a research note on Monday, July 31st. Wells Fargo & Company reissued a “market perform” rating and issued a $140.00 price target on shares of Apple in a research report on Saturday, July 22nd. KeyCorp reissued an “equal weight” rating on shares of Apple in a research report on Friday, August 4th. Goldman Sachs Group, Inc. (The) set a $170.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Saturday, May 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $177.00 target price on shares of Apple in a report on Friday, June 16th. Eleven equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. Apple has a consensus rating of “Buy” and a consensus price target of $169.30.

In other news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johny Srouji sold 5,892 shares of Apple stock in a transaction on Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the sale, the insider now directly owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The disclosure for this sale can be found here. Insiders have sold 432,930 shares of company stock valued at $69,008,577 in the last three months. Insiders own 0.08% of the company’s stock.

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Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.2230% during midday trading on Tuesday, reaching $161.8601. 21,618,976 shares of the company’s stock traded hands. The stock has a 50 day moving average of $158.02 and a 200-day moving average of $148.85. The stock has a market cap of $836.04 billion, a price-to-earnings ratio of 18.3765 and a beta of 1.27. Apple Inc. has a 52-week low of $104.08 and a 52-week high of $164.94.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter last year, the firm earned $1.42 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post $9.02 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.

Apple 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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