Trade Report: The 1,036 Shares of Apple Inc. (AAPL) are sold by ProVise Management Group LLC

The 1,036 Shares of Apple Inc. (AAPL) are sold by ProVise Management Group LLC

ProVise Management Group LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 36,641 shares of the iPhone maker’s stock after selling 1,036 shares during the period. ProVise Management Group LLC’s holdings in Apple were worth $3,503,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Zurich Insurance Group Ltd FI increased its stake in shares of Apple by 1.4% in the first quarter. Zurich Insurance Group Ltd FI now owns 869,381 shares of the iPhone maker’s stock valued at $94,754,000 after buying an additional 11,582 shares during the period. BNP Paribas Arbitrage SA boosted its position in Apple by 34.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,887,600 shares of the iPhone maker’s stock worth $562,855,000 after buying an additional 1,521,440 shares in the last quarter. Roffman Miller Associates Inc. PA boosted its position in Apple by 25.0% in the second quarter. Roffman Miller Associates Inc. PA now owns 139,953 shares of the iPhone maker’s stock worth $13,380,000 after buying an additional 28,020 shares in the last quarter. Capstone Asset Management Co. boosted its position in Apple by 19.1% in the second quarter. Capstone Asset Management Co. now owns 550,349 shares of the iPhone maker’s stock worth $52,613,000 after buying an additional 88,106 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Apple by 1.0% in the first quarter. Prudential Financial Inc. now owns 12,655,593 shares of the iPhone maker’s stock worth $1,379,333,000 after buying an additional 127,360 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Apple Inc. (NASDAQ:AAPL) traded up 0.15% during mid-day trading on Friday, reaching $114.06. The company’s stock had a trading volume of 24,358,443 shares. Apple Inc. has a 12 month low of $89.47 and a 12 month high of $123.82. The company has a market cap of $614.61 billion, a price-to-earnings ratio of 13.30 and a beta of 1.22. The stock’s 50 day moving average is $110.36 and its 200 day moving average is $103.24.

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

AAPL has been the subject of a number of research analyst reports. Drexel Hamilton reaffirmed a “buy” rating and issued a $185.00 price target on shares of Apple in a report on Wednesday, September 14th. Piper Jaffray Cos. raised shares of Apple to an “overweight” rating and set a $151.00 price target for the company in a report on Friday, September 16th. Canaccord Genuity reaffirmed a “buy” rating and issued a $140.00 price target (up previously from $120.00) on shares of Apple in a report on Monday, September 12th. Nomura raised their price target on shares of Apple from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 22nd. Finally, Mizuho reaffirmed a “buy” rating and issued a $120.00 price target on shares of Apple in a report on Thursday, September 1st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $126.13.

In other Apple news, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the completion of the transaction, the senior vice president now directly owns 105,839 shares in the company, valued at $10,583,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Angela J. Ahrendts sold 35,797 shares of the stock in a transaction on 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 transaction, the senior vice president now owns 105,839 shares of the company’s stock, valued at $10,583,900. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

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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