The Palisade Capital Management LLC NJ decides to keep it stake in Apple Inc. (AAPL) to the level of $19,764,000

The Palisade Capital Management LLC NJ decides to keep it stake in Apple Inc. (AAPL) to the level of $19,764,000

Palisade Capital Management LLC NJ increased its position in Apple Inc. (NASDAQ:AAPL) by 1.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 206,739 shares of the iPhone maker’s stock after buying an additional 3,904 shares during the period. Apple comprises approximately 0.7% of Palisade Capital Management LLC NJ’s portfolio, making the stock its 27th largest position. Palisade Capital Management LLC NJ’s holdings in Apple were worth $19,764,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Hussman Strategic Advisors Inc. bought a new stake in shares of Apple during the second quarter worth approximately $143,000. River & Mercantile Asset Management LLP boosted its stake in shares of 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 in the last quarter. Smith Affiliated Capital Corp. boosted its stake 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 worth $185,000 after buying an additional 1,185 shares in 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 worth $200,000 after buying an additional 107 shares during the last quarter. Finally, Stelac Advisory Services LLC raised its position in shares of Apple by 70.5% in the second quarter. Stelac Advisory Services LLC now owns 2,100 shares of the iPhone maker’s stock worth $201,000 after buying an additional 868 shares during the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Apple Inc. (NASDAQ:AAPL) traded up 0.15% during midday trading on Friday, hitting $114.06. 24,358,443 shares of the company’s stock traded hands. The company has a market capitalization of $614.61 billion, a PE ratio of 13.30 and a beta of 1.22. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $123.82. The company has a 50 day moving average of $110.36 and a 200-day moving average of $103.24.

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

A number of brokerages recently weighed in on AAPL. Canaccord Genuity restated a “buy” rating and issued a $140.00 price objective on shares of Apple in a report on Saturday. Bank of America Corp. restated a “buy” rating and issued a $125.00 price objective on shares of Apple in a report on Wednesday. Pacific Crest restated an “overweight” rating and issued a $121.00 price objective on shares of Apple in a report on Wednesday. Piper Jaffray Cos. restated an “overweight” rating and issued a $151.00 price objective on shares of Apple in a report on Tuesday, October 4th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $102.00 price objective on shares of Apple in a report on Monday, October 3rd. Four investment 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 stock currently has an average rating of “Buy” and a consensus target price of $126.13.

In related news, CEO Timothy D. Cook sold 110,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $106.84, for a total value of $11,752,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 334,000 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $35,814,820.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

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