Cribstone Capital Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,648 shares of the iPhone maker’s stock after selling 528 shares during the period. Apple comprises approximately 1.6% of Cribstone Capital Management LLC’s holdings, making the stock its 15th largest holding. Cribstone Capital Management LLC’s holdings in Apple were worth $3,267,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Bank Hapoalim BM boosted its position in Apple by 3.4% in the 2nd quarter. Bank Hapoalim BM now owns 35,624 shares of the iPhone maker’s stock valued at $6,594,000 after buying an additional 1,185 shares during the last quarter. Intl Fcstone Inc. boosted its position in Apple by 7.8% in the 2nd quarter. Intl Fcstone Inc. now owns 16,202 shares of the iPhone maker’s stock valued at $2,999,000 after buying an additional 1,176 shares during the last quarter. Delphi Private Advisors LLC bought a new position in Apple in the 2nd quarter valued at $120,000. Greystone Managed Investments Inc. boosted its position in Apple by 1.4% in the 2nd quarter. Greystone Managed Investments Inc. now owns 114,956 shares of the iPhone maker’s stock valued at $21,280,000 after buying an additional 1,604 shares during the last quarter. Finally, PrairieView Partners LLC boosted its position in Apple by 8.4% in the 2nd quarter. PrairieView Partners LLC now owns 11,380 shares of the iPhone maker’s stock valued at $2,107,000 after buying an additional 879 shares during the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.
A number of research analysts have commented on the company. BidaskClub upgraded Apple from a “hold” rating to a “buy” rating in a research report on Wednesday. Atlantic Securities reiterated a “neutral” rating and issued a $205.00 price objective on shares of Apple in a research report on Wednesday, August 1st. BMO Capital Markets increased their price objective on Apple from $184.00 to $199.00 and gave the company a “market perform” rating in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Macquarie reiterated a “buy” rating and issued a $214.00 price objective on shares of Apple in a research report on Wednesday, August 1st. Finally, Sanford C. Bernstein reiterated a “neutral” rating and issued a $200.00 price objective on shares of Apple in a research report on Wednesday, August 1st. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirty-one have given a buy rating to the company. Apple presently has an average rating of “Buy” and an average target price of $224.63.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.18 by $0.16. The company had revenue of $53.27 billion during the quarter, compared to analysts’ expectations of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. Apple’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 11.77 EPS for the current fiscal year.
In other news, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $217.79, for a total value of $57,749,196.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johny Srouji sold 14,140 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $214.98, for a total value of $3,039,817.20. Following the completion of the transaction, the insider now owns 68,302 shares of the company’s stock, valued at approximately $14,683,563.96. The disclosure for this sale can be found here. Insiders sold a total of 564,185 shares of company stock valued at $124,444,213 in the last 90 days. 0.08% of the stock is owned by corporate insiders.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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