Trading Report: The Apple Inc. (AAPL) Position Lowered by Oxbow Advisors LLC

The Apple Inc. (AAPL) Position Lowered by Oxbow Advisors LLC

Oxbow Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 17.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 50,878 shares of the iPhone maker’s stock after selling 11,032 shares during the period. Oxbow Advisors LLC’s holdings in Apple were worth $4,869,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB boosted its position in Apple by 87.4% in the second quarter. Nordea Investment Management AB now owns 10,195,750 shares of the iPhone maker’s stock valued at $974,714,000 after buying an additional 4,755,361 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in shares of Apple during the first quarter worth $325,287,000. Acadian Asset Management LLC boosted its stake in shares of Apple by 545.2% in the second quarter. Acadian Asset Management LLC now owns 2,421,654 shares of the iPhone maker’s stock worth $231,512,000 after buying an additional 2,046,328 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its stake in shares of Apple by 182.2% in the first quarter. Jericho Capital Asset Management L.P. now owns 904,000 shares of the iPhone maker’s stock worth $98,527,000 after buying an additional 2,004,000 shares during the last quarter. Finally, Virginia Retirement System acquired a new stake in shares of Apple during the first quarter worth $193,992,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Apple Inc. (NASDAQ:AAPL) traded up 1.10% during midday trading on Wednesday, hitting $117.58. The stock had a trading volume of 21,296,154 shares. The company’s 50 day moving average price is $110.78 and its 200-day moving average price is $103.36. The stock has a market cap of $633.57 billion, a PE ratio of 13.71 and a beta of 1.22. Apple Inc. has a 52-week low of $89.47 and a 52-week high of $123.82.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The firm had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. The company’s revenue was down 14.6% compared to the same quarter last year. Analysts forecast that Apple Inc. will post $8.26 EPS for the current fiscal year.

A number of brokerages recently weighed in on AAPL. Goldman Sachs Group Inc. restated a “buy” rating and set a $124.00 target price on shares of Apple in a report on Wednesday. Mizuho raised their target price on shares of Apple from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday. OTR Global upgraded shares of Apple to a “positive” rating in a report on Wednesday. Canaccord Genuity raised their target price on shares of Apple from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, September 16th. Finally, Stifel Nicolaus restated a “buy” rating and set a $120.00 target price on shares of Apple in a report on Friday, September 16th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-three have given a buy rating and two have assigned a strong buy rating to the company. Apple has a consensus rating of “Buy” and a consensus price target of $126.34.

In related news, COO Jeffrey E. Williams sold 43,769 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $112.59, for a total value of $4,927,951.71. Following the completion of the transaction, the chief operating officer now owns 90,657 shares of the company’s stock, valued at approximately $10,207,071.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Angela J. Ahrendts sold 35,797 shares of the company’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $100.00, for a total value of $3,579,700.00. Following the completion of the transaction, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

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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