Trade Report: The Telemus Capital LLC Reduces stake in Apple Inc. (AAPL)

The Telemus Capital LLC Reduces stake in Apple Inc. (AAPL)

Telemus Capital LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,380 shares of the iPhone maker’s stock after selling 6,436 shares during the period. Apple makes up 1.3% of Telemus Capital LLC’s investment portfolio, making the stock its 11th largest position. Telemus Capital LLC’s holdings in Apple were worth $10,743,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. River & Mercantile Asset Management LLP raised its stake in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares during the period. Smith Affiliated Capital Corp. raised its position in shares of Apple by 158.0% in the second quarter. Smith Affiliated Capital Corp. now owns 1,935 shares of the iPhone maker’s stock valued at $185,000 after buying an additional 1,185 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Apple by 5.4% in the second quarter. Capital Advisors Ltd. LLC now owns 2,088 shares of the iPhone maker’s stock valued at $200,000 after buying an additional 107 shares during the last quarter. Boston Standard Wealth Management LLC raised its position in shares of Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock valued at $218,000 after buying an additional 14 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Apple during the second quarter valued at $220,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.56% during midday trading on Friday, hitting $117.63. 35,652,191 shares of the stock traded hands. The company has a market capitalization of $633.84 billion, a price-to-earnings ratio of 13.72 and a beta of 1.22. The firm’s 50-day moving average is $111.56 and its 200 day moving average is $103.65. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $123.82.

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

Several brokerages recently weighed in on AAPL. Morgan Stanley set a $124.00 price objective on Apple and gave the stock a “buy” rating in a research report on Friday. Credit Suisse Group AG reiterated an “outperform” rating and issued a $150.00 price objective on shares of Apple in a research report on Thursday. Sanford C. Bernstein set a $135.00 price objective on Apple and gave the stock a “buy” rating in a research report on Thursday. Pacific Crest increased their price objective on Apple from $121.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, OTR Global upgraded Apple to a “positive” rating in a research report on Wednesday. Three 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 issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $126.74.

In related news, SVP Angela J. Ahrendts sold 35,797 shares of the company’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $100.00, for a total transaction of $3,579,700.00. Following the completion of the sale, the senior vice president now owns 105,839 shares of the company’s stock, valued at $10,583,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $4,927,951.71. Following the sale, the chief operating officer now directly owns 90,657 shares of the company’s stock, 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 corporate 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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