Todays Report: The Cape ANN Savings Bank decides to keep it stake in Apple Inc. (AAPL) to the level of $1,524,000

The Cape ANN Savings Bank decides to keep it stake in Apple Inc. (AAPL) to the level of $1,524,000

Cape ANN Savings Bank decreased its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 15,948 shares of the iPhone maker’s stock after selling 162 shares during the period. Apple accounts for about 2.1% of Cape ANN Savings Bank’s portfolio, making the stock its 13th largest position. Cape ANN Savings Bank’s holdings in Apple were worth $1,524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. NN Investment Partners Holdings N.V. acquired a new position in shares of Apple during the first quarter valued at $325,287,000. Virginia Retirement System acquired a new position in shares of Apple during the first quarter valued at $193,992,000. Franklin Resources Inc. increased its position 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. BNP Paribas Arbitrage SA increased its position in shares of Apple by 34.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,887,600 shares of the iPhone maker’s stock valued at $562,855,000 after buying an additional 1,521,440 shares during the period. Finally, BlackRock Group LTD increased its position 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 valued at $5,157,847,000 after buying an additional 1,498,288 shares during the period. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Apple Inc. (NASDAQ:AAPL) traded up 0.56% during mid-day trading on Friday, reaching $117.63. 35,652,191 shares of the company’s stock traded hands. Apple Inc. has a 1-year low of $89.47 and a 1-year high of $123.82. The firm has a 50 day moving average of $111.56 and a 200 day moving average of $103.65. The firm has a market cap of $633.84 billion, a PE ratio of 13.72 and a beta of 1.22.

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

Several analysts have weighed in on AAPL shares. Piper Jaffray Cos. reiterated an “overweight” rating and set a $153.00 price target on shares of Apple in a research note on Tuesday, July 26th. Credit Suisse Group AG reiterated an “outperform” rating and set a $150.00 price target on shares of Apple in a research note on Thursday, September 15th. Goldman Sachs Group Inc. set a $124.00 price target on Apple and gave the company a “buy” rating in a research note on Wednesday. Citigroup Inc. boosted their price target on Apple from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, September 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target on shares of Apple in a research note on Wednesday, July 20th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Apple has a consensus rating of “Buy” and a consensus target price of $126.74.

In other news, insider Johny Srouji sold 9,827 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $108.44, for a total value of $1,065,639.88. Following the sale, the insider now owns 116,369 shares of the company’s stock, valued at $12,619,054.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 43,769 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $112.59, for a total transaction of $4,927,951.71. Following the completion of the sale, the chief operating officer now directly 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 currently 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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