Hoertkorn Richard Charles Has $8.25 Million Holdings in Apple (AAPL)
Hoertkorn Richard Charles grew its holdings in Apple (NASDAQ:AAPL) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,775 shares of the iPhone maker’s stock after acquiring an additional 3,144 shares during the quarter. Apple accounts for about 4.9% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 4th largest holding. Hoertkorn Richard Charles’ holdings in Apple were worth $8,254,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in AAPL. FNY Managed Accounts LLC grew its holdings in shares of Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares in the last quarter. Private Vista LLC bought a new position in shares of Apple during the second quarter worth about $122,000. Oak Point Wealth Management bought a new position in shares of Apple during the fourth quarter worth about $163,000. Interactive Financial Advisors bought a new position in shares of Apple during the fourth quarter worth about $188,000. Finally, Reaves W H & Co. Inc. bought a new position in shares of Apple during the second quarter worth about $200,000. Institutional investors own 61.28% of the company’s stock.
In other news, insider Philip W. Schiller sold 69,491 shares of Apple stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total value of $11,564,692.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Daniel J. Riccio sold 17,375 shares of Apple stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $169.12, for a total value of $2,938,460.00. Following the completion of the transaction, the senior vice president now owns 66,191 shares in the company, valued at approximately $11,194,221.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,988 shares of company stock worth $21,336,201. Corporate insiders own 0.08% of the company’s stock.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. During the same quarter last year, the company posted $3.36 EPS. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. equities research analysts expect that Apple will post 11.3 earnings per share for the current year.
A number of research firms recently issued reports on AAPL. Sanford C. Bernstein reiterated a “neutral” rating and set a $170.00 price objective on shares of Apple in a report on Thursday. Deutsche Bank set a $152.00 price objective on Apple and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo restated a “hold” rating and issued a $195.00 price target on shares of Apple in a research note on Tuesday. UBS set a $190.00 price target on Apple and gave the company a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley decreased their price target on Apple from $203.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, April 20th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $203.15.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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