Bridges Investment Counsel Inc. raised its position in Apple Inc. (NASDAQ:AAPL) by 59.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,757 shares of the iPhone maker’s stock after acquiring an additional 50,816 shares during the quarter. Apple accounts for about 4.5% of Bridges Investment Counsel Inc.’s investment portfolio, making the stock its 2nd largest holding. Bridges Investment Counsel Inc.’s holdings in Apple were worth $19,695,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of AAPL. Lincoln Capital Corp acquired a new stake in Apple in the fourth quarter valued at approximately $1,086,000. Pekin Singer Strauss Asset Management IL grew its position in Apple by 1.1% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 33,741 shares of the iPhone maker’s stock valued at $3,908,000 after acquiring an additional 380 shares in the last quarter. RMB Capital Management LLC grew its position in Apple by 81.8% in the fourth quarter. RMB Capital Management LLC now owns 296,844 shares of the iPhone maker’s stock valued at $34,380,000 after acquiring an additional 133,547 shares in the last quarter. Perigon Wealth Management LLC grew its position in Apple by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock valued at $20,613,000 after acquiring an additional 8,233 shares in the last quarter. Finally, M Holdings Securities Inc. grew its position in Apple by 4.0% in the fourth quarter. M Holdings Securities Inc. now owns 68,536 shares of the iPhone maker’s stock valued at $7,938,000 after acquiring an additional 2,651 shares in the last quarter. 60.35% of the stock is owned by institutional investors.
In related news, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Johny Srouji sold 10,469 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total value of $1,698,071.80. Following the completion of the sale, the senior vice president now directly owns 76,250 shares of the company’s stock, valued at $12,367,750. The disclosure for this sale can be found here. Insiders sold a total of 432,930 shares of company stock valued at $69,008,577 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.
Apple Inc. (AAPL) traded up 0.30% on Tuesday, hitting $159.14. The company had a trading volume of 11,936,705 shares. The stock’s 50-day moving average price is $159.23 and its 200 day moving average price is $149.72. Apple Inc. has a one year low of $104.08 and a one year high of $164.94. The company has a market capitalization of $821.99 billion, a P/E ratio of 18.07 and a beta of 1.27.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. During the same period in the previous year, the company posted $1.42 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts expect that Apple Inc. will post $9.01 EPS for the current fiscal year.
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A number of research firms have recently weighed in on AAPL. Drexel Hamilton reissued a “buy” rating and set a $202.00 price target on shares of Apple in a research report on Thursday, July 6th. Barclays PLC reissued a “hold” rating and set a $146.00 price target on shares of Apple in a research report on Monday, September 4th. Instinet reissued a “buy” rating and set a $165.00 price target on shares of Apple in a research report on Wednesday, July 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 price target on shares of Apple in a research report on Monday, September 11th. Finally, Morgan Stanley reissued an “overweight” rating and set a $194.00 price target (up previously from $182.00) on shares of Apple in a research report on Tuesday, September 12th. Eleven analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $188.11.
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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