Saratoga Research & Investment Management trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 656,501 shares of the iPhone maker’s stock after selling 10,631 shares during the period. Apple makes up approximately 7.5% of Saratoga Research & Investment Management’s holdings, making the stock its largest position. Saratoga Research & Investment Management’s holdings in Apple were worth $94,549,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AAPL. Pinnacle Bank bought a new stake in Apple in the 1st quarter worth approximately $1,924,000. Green Square Capital LLC grew its position in Apple by 6.7% in the 1st quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock worth $12,564,000 after purchasing an additional 5,491 shares during the period. Headinvest LLC grew its position in Apple by 2.5% in the 2nd quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock worth $2,347,000 after purchasing an additional 390 shares during the period. Lederer & Associates Investment Counsel CA grew its position in Apple by 2.1% in the 2nd quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock worth $5,377,000 after purchasing an additional 779 shares during the period. Finally, Texan Capital Management grew its position in Apple by 1.6% in the 2nd quarter. Texan Capital Management now owns 25,591 shares of the iPhone maker’s stock worth $3,686,000 after purchasing an additional 393 shares during the period. Hedge funds and other institutional investors own 60.33% of the company’s stock.

Apple Inc. (NASDAQ:AAPL) opened at 169.04 on Wednesday. The firm has a 50-day moving average of $157.08 and a 200-day moving average of $153.07. The firm has a market cap of $873.13 billion, a P/E ratio of 19.19 and a beta of 1.27. Apple Inc. has a 12-month low of $104.08 and a 12-month high of $169.65.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. Apple’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share. On average, analysts expect that Apple Inc. will post $9.00 EPS for the current year.

A number of research firms have commented on AAPL. Vetr raised shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 target price for the company in a research report on Friday, September 22nd. Rosenblatt Securities reaffirmed a “hold” rating and issued a $150.00 target price on shares of Apple in a research report on Sunday, October 15th. Nomura reaffirmed a “buy” rating and issued a $165.00 target price on shares of Apple in a research report on Wednesday, July 5th. Bank of America Corporation reaffirmed a “buy” rating and issued a $180.00 target price on shares of Apple in a research report on Tuesday, September 26th. Finally, Pacific Crest raised shares of Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 target price for the company in a research report on Monday, October 16th. Eight analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $193.36.

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In other Apple news, insider Philip W. Schiller sold 56,808 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total value of $8,788,197.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock valued at $85,864,804 over the last 90 days. 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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