The Apple Inc. (AAPL) Position Boosted by Virginia Retirement Systems ET AL

The Apple Inc. (AAPL) Position Boosted by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% during the third quarter, Holdings Channel reports. The institutional investor owned 1,729,900 shares of the iPhone maker’s stock after buying an additional 43,000 shares during the period. Apple comprises approximately 2.8% of Virginia Retirement Systems ET AL’s portfolio, making the stock its largest position. Virginia Retirement Systems ET AL’s holdings in Apple were worth $195,565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. LGT Capital Partners LTD. boosted its position in shares of Apple by 10.4% in the third quarter. LGT Capital Partners LTD. now owns 140,020 shares of the iPhone maker’s stock valued at $15,829,000 after buying an additional 13,140 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Apple by 34.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,887,600 shares of the iPhone maker’s stock valued at $562,855,000 after buying an additional 1,521,440 shares during the period. CFO4Life L.P. boosted its position in shares of Apple by 3.3% in the third quarter. CFO4Life L.P. now owns 21,036 shares of the iPhone maker’s stock valued at $2,378,000 after buying an additional 670 shares during the period. Woodstock Corp boosted its position in shares of Apple by 2.4% in the third quarter. Woodstock Corp now owns 62,122 shares of the iPhone maker’s stock valued at $7,023,000 after buying an additional 1,440 shares during the period. Finally, CI Global Investments Inc. boosted its position in shares of Apple by 7.2% in the second quarter. CI Global Investments Inc. now owns 538,675 shares of the iPhone maker’s stock valued at $51,497,000 after buying an additional 36,200 shares during the period. 57.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Apple Inc. (NASDAQ:AAPL) opened at 119.78 on Friday. The stock has a market cap of $638.70 billion, a P/E ratio of 14.41 and a beta of 1.30. Apple Inc. has a 1-year low of $89.47 and a 1-year high of $120.50. The company’s 50-day moving average is $115.87 and its 200 day moving average is $110.48.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.01. The company earned $46.85 billion during the quarter, compared to the consensus estimate of $46.88 billion. Apple had a net margin of 21.19% and a return on equity of 35.59%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 earnings per share. Equities research analysts anticipate that Apple Inc. will post $8.95 EPS for the current year.

Several brokerages recently issued reports on AAPL. Bank of America Corp. increased their price objective on Apple from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. Vetr raised Apple from a “buy” rating to a “strong-buy” rating and set a $134.83 target price on the stock in a research report on Wednesday. Cowen and Company reaffirmed an “outperform” rating and set a $135.00 target price on shares of Apple in a research report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and set a $148.00 target price on shares of Apple in a research report on Tuesday. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $133.00 target price on shares of Apple in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, forty-two have given a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $129.71.

In other news, insider Daniel J. Riccio sold 10,942 shares of the business’s stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $119.99, for a total value of $1,312,930.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Luca Maestri sold 16,950 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $110.03, for a total transaction of $1,865,008.50. Following the completion of the sale, the chief financial officer now owns 12,055 shares of the company’s stock, valued at $1,326,411.65. The disclosure for this sale can be found here. Insiders sold 157,559 shares of company stock valued at $18,111,724 over the last three months. Insiders own 0.08% of the company’s stock.

About Apple

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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