Iowa State Bank Has $6.28 Million Stake in Apple Inc. (AAPL)

Iowa State Bank lessened its stake in Apple Inc. (NASDAQ:AAPL) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,618 shares of the iPhone maker’s stock after selling 968 shares during the quarter. Apple accounts for about 3.0% of Iowa State Bank’s investment portfolio, making the stock its 2nd biggest holding. Iowa State Bank’s holdings in Apple were worth $6,282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in AAPL. Hefty Wealth Partners boosted its holdings in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares during the period. American Beacon Advisors Inc. acquired a new position in shares of Apple in the first quarter valued at approximately $117,000. State of Alaska Department of Revenue acquired a new position in shares of Apple in the second quarter valued at approximately $149,000. Portfolio Solutions LLC acquired a new position in shares of Apple in the first quarter valued at approximately $169,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Apple in the first quarter valued at approximately $201,000. Institutional investors own 60.36% of the company’s stock.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the 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 firm had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter last year, the company earned $1.42 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year.

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Several research analysts have recently weighed in on AAPL shares. Morgan Stanley upped their price target on shares of Apple from $177.00 to $182.00 and gave the company an “overweight” rating in a report on Monday, July 17th. Needham & Company LLC reiterated a “buy” rating and issued a $175.00 price target (up previously from $165.00) on shares of Apple in a report on Wednesday, August 2nd. They noted that the move was a valuation call. Cleveland Research upgraded shares of Apple from a “neutral” rating to a “buy” rating and set a $197.00 target price for the company in a report on Tuesday, August 29th. Bank of America Corporation restated a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Apple in a report on Wednesday, August 2nd. Finally, Canaccord Genuity restated a “buy” rating and set a $180.00 target price on shares of Apple in a report on Monday, July 10th. Nine analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $189.73.

In related news, SVP D Bruce Sewell sold 31,625 shares of Apple stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the sale, the senior vice president now owns 112,430 shares of the company’s stock, valued at approximately $17,778,555.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Federighi sold 63,163 shares of Apple stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $158.07, for a total value of $9,984,175.41. Following the sale, the insider now directly owns 359,988 shares in the company, valued at approximately $56,903,303.16. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock worth $85,864,804 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

About Apple

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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