Apple Inc. (AAPL) Shares Reduced by Frontier Wealth Management LLC

Apple Inc. (AAPL) Shares Reduced by Frontier Wealth Management LLC

Frontier Wealth Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,289 shares of the iPhone maker’s stock after selling 597 shares during the period. Apple accounts for approximately 1.9% of Frontier Wealth Management LLC’s holdings, making the stock its 6th largest position. Frontier Wealth Management LLC’s holdings in Apple were worth $11,731,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Bailard Inc. boosted its position in shares of Apple by 23.2% in the third quarter. Bailard Inc. now owns 181,502 shares of the iPhone maker’s stock valued at $20,519,000 after buying an additional 34,162 shares in the last quarter. 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 in the last quarter. Stanford Investment Group Inc. boosted its position in shares of Apple by 25.9% in the fourth quarter. Stanford Investment Group Inc. now owns 98,014 shares of the iPhone maker’s stock valued at $11,352,000 after buying an additional 20,176 shares in the last quarter. 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 in the last quarter. Finally, Union Bankshares Corp boosted its position in shares of Apple by 1.1% in the third quarter. Union Bankshares Corp now owns 49,542 shares of the iPhone maker’s stock valued at $5,601,000 after buying an additional 551 shares in the last quarter. 58.76% of the stock is owned by institutional investors.

Shares of Apple Inc. (NASDAQ:AAPL) opened at 143.66 on Friday. Apple Inc. has a 12 month low of $89.47 and a 12 month high of $144.50. The company has a market capitalization of $753.72 billion, a P/E ratio of 17.25 and a beta of 1.26. The company has a 50-day moving average of $138.92 and a 200 day moving average of $121.54.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, January 31st. The iPhone maker reported $3.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.14. The business had revenue of $78.35 billion for the quarter, compared to the consensus estimate of $77.37 billion. Apple had a net margin of 20.73% and a return on equity of 34.94%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.28 EPS. Analysts forecast that Apple Inc. will post $8.95 EPS for the current year.

AAPL has been the subject of several recent research reports. Robert W. Baird reissued an “outperform” rating and issued a $133.00 price target on shares of Apple in a research report on Tuesday, January 24th. Drexel Hamilton reissued a “buy” rating and issued a $185.00 price target on shares of Apple in a research report on Thursday, December 8th. Vetr raised shares of Apple from a “buy” rating to a “strong-buy” rating and set a $133.51 price target for the company in a research report on Tuesday, January 10th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Apple in a research report on Tuesday, January 24th. Finally, Stifel Nicolaus reissued a “reduce” rating and issued a $115.00 price target on shares of Apple in a research report on Monday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, forty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $143.55.

In other Apple news, insider Luca Maestri sold 4,010 shares of the business’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $117.88, for a total transaction of $472,698.80. Following the completion of the sale, the insider now directly owns 422 shares of the company’s stock, valued at approximately $49,745.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Riccio sold 10,942 shares of the business’s stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $119.99, for a total value of $1,312,930.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 401,544 shares of company stock worth $51,163,886. 0.08% of the stock is owned by corporate insiders.

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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