Farmers & Merchants Trust Co of Chambersburg PA Has $1.87 Million Holdings in Apple Inc. (AAPL)

Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,993 shares of the iPhone maker’s stock after purchasing an additional 700 shares during the period. Apple accounts for 1.6% of Farmers & Merchants Trust Co of Chambersburg PA’s portfolio, making the stock its 19th largest holding. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Apple were worth $1,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AAPL. Stonehearth Capital Management LLC boosted its position in shares of Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock valued at $342,000 after acquiring an additional 20 shares during the period. Lenox Wealth Advisors Inc. lifted its position in Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after purchasing an additional 20 shares during the period. Sippican Capital Advisors lifted its position in Apple by 0.5% in the first quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock worth $706,000 after purchasing an additional 26 shares during the period. Cordasco Financial Network lifted its position in Apple by 1.5% in the second quarter. Cordasco Financial Network now owns 3,233 shares of the iPhone maker’s stock worth $466,000 after purchasing an additional 49 shares during the period. Finally, Lbmc Investment Advisors LLC lifted its position in Apple by 1.1% in the first quarter. Lbmc Investment Advisors LLC now owns 5,386 shares of the iPhone maker’s stock worth $774,000 after purchasing an additional 59 shares during the period. Institutional investors own 60.33% of the company’s stock.

Apple Inc. (NASDAQ:AAPL) traded down 0.19% during midday trading on Wednesday, reaching $160.16. 8,601,667 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $157.58 and its 200 day moving average is $151.69. Apple Inc. has a 52 week low of $104.08 and a 52 week high of $164.94. The firm has a market capitalization of $827.26 billion, a P/E ratio of 18.18 and a beta of 1.27.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The business’s revenue for the quarter 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.

AAPL has been the subject of several research reports. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $170.00 target price on shares of Apple in a research report on Wednesday, June 21st. UBS AG reiterated a “buy” rating and set a $170.00 price objective on shares of Apple in a research note on Friday, June 23rd. Pacific Crest reiterated an “equal weight” rating on shares of Apple in a research note on Wednesday, June 28th. Citigroup Inc. reiterated a “buy” rating and set a $160.00 price objective on shares of Apple in a research note on Tuesday, July 4th. Finally, Instinet reiterated a “buy” rating and set a $165.00 price objective on shares of Apple in a research note on Wednesday, July 5th. Seven equities research analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $190.46.

In other news, SVP Johny Srouji sold 10,469 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the transaction, the senior vice president now directly owns 76,250 shares of the company’s stock, valued at $12,367,750. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Philip W. Schiller sold 56,808 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total transaction of $8,788,197.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,177 shares of company stock worth $85,864,804. Corporate insiders own 0.08% of the company’s stock.

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Apple Company 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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