The Selway Asset Management reaches $5,201,000 position of Apple Inc. (AAPL)

The Selway Asset Management reaches $5,201,000 position  of Apple Inc. (AAPL)

Selway Asset Management raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.5% during the second quarter, Holdings Channel reports. The institutional investor owned 54,404 shares of the iPhone maker’s stock after buying an additional 2,855 shares during the period. Apple makes up about 3.3% of Selway Asset Management’s holdings, making the stock its 4th largest position. Selway Asset Management’s holdings in Apple were worth $5,201,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AAPL. BlackRock Group LTD raised its stake in shares of Apple by 3.3% in the first quarter. BlackRock Group LTD now owns 47,324,047 shares of the iPhone maker’s stock worth $5,157,847,000 after buying an additional 1,498,288 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock valued at $3,991,635,000 after buying an additional 301,502 shares during the period. Franklin Resources Inc. raised its stake in shares of Apple by 13.9% in the first quarter. Franklin Resources Inc. now owns 14,170,724 shares of the iPhone maker’s stock valued at $1,544,480,000 after buying an additional 1,726,014 shares during the period. Prudential Financial Inc. raised its stake in shares of Apple by 1.0% in the first quarter. Prudential Financial Inc. now owns 12,655,593 shares of the iPhone maker’s stock valued at $1,379,333,000 after buying an additional 127,360 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Apple by 0.3% in the first quarter. Fisher Asset Management LLC now owns 11,315,252 shares of the iPhone maker’s stock valued at $1,242,981,000 after buying an additional 38,763 shares during the period. 56.46% of the stock is currently owned by institutional investors.

Apple Inc. (NASDAQ:AAPL) traded up 1.0961% during trading on Wednesday, reaching $117.5748. The company’s stock had a trading volume of 21,297,456 shares. The company has a market capitalization of $633.54 billion, a P/E ratio of 13.7097 and a beta of 1.22. The firm’s 50-day moving average price is $110.78 and its 200 day moving average price is $103.36. Apple Inc. has a 12-month low of $89.47 and a 12-month 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. On average, analysts predict that Apple Inc. will post $8.26 earnings per share for the current fiscal year.

AAPL has been the topic of several research analyst reports. Citigroup Inc. reissued a “buy” rating and set a $115.00 price target on shares of Apple in a research note on Wednesday, July 6th. Piper Jaffray Cos. reissued an “overweight” rating and set a $153.00 price target on shares of Apple in a research note on Tuesday, July 26th. Cowen and Company reissued an “outperform” rating and set a $125.00 price target on shares of Apple in a research note on Thursday, July 28th. BMO Capital Markets reissued an “outperform” rating and set a $140.00 price target (up previously from $116.00) on shares of Apple in a research note on Monday, September 19th. Finally, OTR Global raised Apple to a “positive” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, forty-three have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $126.34.

In other Apple news, SVP Angela J. Ahrendts sold 35,797 shares of the stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $100.00, for a total transaction of $3,579,700.00. Following the transaction, the senior vice president now owns 105,839 shares in the company, valued at $10,583,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 43,769 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 90,657 shares in the company, valued at approximately $10,207,071.63. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

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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