Jolley Asset Management LLC Has $4.44 Million Stake in Apple Inc. (AAPL)

Jolley Asset Management LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 22.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,968 shares of the iPhone maker’s stock after selling 6,875 shares during the period. Apple accounts for approximately 3.0% of Jolley Asset Management LLC’s portfolio, making the stock its 11th biggest position. Jolley Asset Management LLC’s holdings in Apple were worth $4,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dorsey Wright & Associates raised its holdings in Apple by 9.2% in the 2nd quarter. Dorsey Wright & Associates now owns 3,205 shares of the iPhone maker’s stock valued at $593,000 after buying an additional 270 shares during the period. Marcus Capital LLC grew its position in Apple by 6.8% in the 1st quarter. Marcus Capital LLC now owns 4,342 shares of the iPhone maker’s stock valued at $729,000 after acquiring an additional 275 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its position in Apple by 0.5% in the 1st quarter. Canandaigua National Bank & Trust Co. now owns 51,711 shares of the iPhone maker’s stock valued at $8,676,000 after acquiring an additional 280 shares in the last quarter. TLP Group LLC grew its position in Apple by 25.3% in the 1st quarter. TLP Group LLC now owns 1,385 shares of the iPhone maker’s stock valued at $232,000 after acquiring an additional 280 shares in the last quarter. Finally, Winthrop Partners WNY LLC grew its position in Apple by 3.6% in the 1st quarter. Winthrop Partners WNY LLC now owns 8,222 shares of the iPhone maker’s stock valued at $1,398,000 after acquiring an additional 282 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.

Shares of AAPL opened at $222.11 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24. The company has a market capitalization of $1,109.54 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 1.99 and a beta of 1.36. Apple Inc. has a 52-week low of $150.24 and a 52-week high of $233.47.

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 Zacks’ consensus estimate of $2.18 by $0.16. The firm had revenue of $53.27 billion during the quarter, compared to the consensus estimate of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 11.76 EPS for the current fiscal year.

AAPL has been the subject of several research reports. BidaskClub raised Apple from a “hold” rating to a “buy” rating in a research report on Monday, June 18th. Sanford C. Bernstein reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Apple in a research report on Monday, June 25th. Barclays lifted their target price on Apple from $161.00 to $175.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 26th. Loop Capital lifted their target price on Apple from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, July 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $210.00 target price on shares of Apple in a research report on Monday, July 9th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirty have assigned a buy rating to the stock. Apple has an average rating of “Buy” and an average price target of $221.63.

In related news, Director Arthur D. Levinson sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $206.58, for a total value of $4,131,600.00. Following the completion of the transaction, the director now directly owns 1,153,283 shares of the company’s stock, valued at $238,245,202.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Angela J. Ahrendts sold 14,194 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $227.96, for a total value of $3,235,664.24. Following the completion of the transaction, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at $24,058,442.48. The disclosure for this sale can be found here. Insiders sold 564,185 shares of company stock valued at $124,444,213 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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