St. Johns Investment Management Company LLC Sells 692 Shares of Apple Inc. (AAPL)
St. Johns Investment Management Company LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,398 shares of the iPhone maker’s stock after selling 692 shares during the quarter. Apple accounts for 3.0% of St. Johns Investment Management Company LLC’s holdings, making the stock its 7th biggest position. St. Johns Investment Management Company LLC’s holdings in Apple were worth $4,146,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Summit Trail Advisors LLC grew its stake in shares of Apple by 17,669.4% during the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after acquiring an additional 20,067,124 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Apple during the 1st quarter worth approximately $830,026,000. SG Americas Securities LLC grew its stake in shares of Apple by 1,527.6% during the 1st quarter. SG Americas Securities LLC now owns 2,652,244 shares of the iPhone maker’s stock worth $444,993,000 after acquiring an additional 2,489,285 shares in the last quarter. Mackay Shields LLC bought a new position in shares of Apple during the 1st quarter worth approximately $332,905,000. Finally, Harvard Management Co. Inc. bought a new position in shares of Apple during the 1st quarter worth approximately $283,972,000. 58.58% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Angela J. Ahrendts sold 14,194 shares of Apple stock in a transaction on Friday, October 5th. The stock was sold at an average price of $227.96, for a total value of $3,235,664.24. Following the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at approximately $24,058,442.48. The disclosure for this sale can be found here. Insiders have sold 564,185 shares of company stock valued at $124,444,213 in the last three months. Insiders own 0.06% of the company’s stock.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.16. Apple had a return on equity of 43.50% and a net margin of 21.98%. The business had revenue of $53.27 billion during the quarter, compared to the consensus estimate of $52.43 billion. During the same quarter last year, the firm posted $1.67 EPS. The company’s quarterly revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 11.76 EPS for the current fiscal year.
Several equities analysts recently weighed in on AAPL shares. New Street Research cut shares of Apple from a “neutral” rating to a “sell” rating in a research note on Monday, August 20th. Bank of America raised their target price on shares of Apple from $250.00 to $256.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Morgan Stanley raised their target price on shares of Apple from $245.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday, September 13th. Macquarie set a $214.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, August 15th. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $240.00 target price on shares of Apple in a research note on Thursday, September 13th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirty have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $221.63.
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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