The Lee Danner & Bass Inc. invests in Apple Inc. (AAPL) Shares

The Lee Danner & Bass Inc. invests in Apple Inc. (AAPL) Shares

Lee Danner & Bass Inc. raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,494 shares of the iPhone maker’s stock after buying an additional 1,788 shares during the period. Apple accounts for about 1.8% of Lee Danner & Bass Inc.’s holdings, making the stock its 11th largest position. Lee Danner & Bass Inc.’s holdings in Apple were worth $15,152,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Independent Portfolio Consultants Inc. raised its stake in shares of Apple by 19.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 56,670 shares of the iPhone maker’s stock valued at $6,176,000 after buying an additional 9,105 shares during the last quarter. Financial Consulate Inc. increased its position in Apple by 1.2% in the first quarter. Financial Consulate Inc. now owns 27,180 shares of the iPhone maker’s stock valued at $2,962,000 after buying an additional 320 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Apple by 26.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 45,317 shares of the iPhone maker’s stock valued at $4,939,000 after buying an additional 9,533 shares during the period. Heritage Investors Management Corp increased its position in Apple by 1.5% in the first quarter. Heritage Investors Management Corp now owns 353,510 shares of the iPhone maker’s stock valued at $38,529,000 after buying an additional 5,324 shares during the period. Finally, Moon Capital Management LLC increased its position in Apple by 1,009.2% in the first quarter. Moon Capital Management LLC now owns 24,202 shares of the iPhone maker’s stock valued at $2,638,000 after buying an additional 22,020 shares during the period. 56.46% of the stock is currently owned by institutional investors.

Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.2848% on Friday, hitting $114.2144. The company’s stock had a trading volume of 17,254,395 shares. The stock’s 50 day moving average is $110.22 and its 200-day moving average is $103.18. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $123.82. The company has a market cap of $615.44 billion, a price-to-earnings ratio of 13.3179 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 Zacks’ consensus estimate of $1.38 by $0.04. The company had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post $8.26 earnings per share for the current year.

Several research firms have recently weighed in on AAPL. Raymond James Financial Inc. restated a “hold” rating on shares of Apple in a research report on Saturday, July 9th. Barclays PLC restated a “buy” rating on shares of Apple in a research report on Sunday, July 17th. Credit Suisse Group AG restated a “buy” rating and issued a $150.00 target price on shares of Apple in a research report on Sunday, July 17th. Brean Capital restated a “buy” rating and issued a $125.00 target price on shares of Apple in a research report on Wednesday, June 15th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $117.00 target price (up previously from $115.00) on shares of Apple in a research report on Thursday, August 11th. Four equities 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 stock. The company presently has a consensus rating of “Buy” and a consensus price target of $126.13.

In related news, CEO Timothy D. Cook sold 110,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $106.84, for a total transaction of $11,752,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 334,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $107.23, for a total value of $35,814,820.00. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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