Concorde Asset Management LLC Sells 1007 Shares of Apple Inc. (NASDAQ:AAPL)

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Concorde Asset Management LLC Sells 1007 Shares of Apple Inc. (NASDAQ:AAPL)

In related news, insider Angela J. Ahrendts sold 25,377 shares of the business's stock in a transaction on Wednesday, May 10th. Apple comprises about 1.9% of Foothills Asset Management Ltd.'s portfolio, making the stock its 20th largest position. Skylands Capital LLC's holdings in Apple were worth $48,387,000 at the end of the most recent quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker's stock valued at $371,000 after buying an additional 10 shares in the last quarter. Burney Co. raised its position in Apple by 0.5% in the fourth quarter. FC Advisory LLC boosted its stake in Apple by 0.4% in the second quarter.

ILLEGAL ACTIVITY NOTICE: "Henderson Group PLC Boosts Position in Apple Inc".

Apple (NASDAQ:AAPL) declined 0.52% on early Monday, reaching $148.72.

The shares gained about 3 per cent in extended trading after closing at $US150.05 in NY.

Apple's services unit had sales of almost $7.3bn during the three months to the end of June, a rise of 22% higher on the same period previous year. The firm's 50-day moving average price is $146.91 and its 200-day moving average price is $142.37.

Apple (NASDAQ:AAPL) previously issued its earnings report on early Tue, May 2nd. On average, equities research analysts forecast that Apple will post $8.87 earnings per share for the current year. Apple's gross margins declined by 140bps when the company introduced its iPhone 6 (meaningful form factor changes).

New iPhones typically go on sale in mid- to late September, which produces a few weeks of revenue that are included in the company's fiscal fourth-quarter results.

Putting Apple's financial performance over the past three months into perspective, analysts on Wall St. were expecting Apple to post revenue in the $44 billion to $46 billion range with EPS projections falling in the $1.57 range. The company has a market capitalization of $778.37 billion, a P/E ratio of 17.51 and a beta of 1.31. This buyback authorization permits the iPhone maker to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: "Apple Inc". If you are accessing this piece on another publication, it was stolen and republished in violation of worldwide copyright and trademark legislation. The original version of this piece can be accessed at https://sportsperspectives.com/2017/08/01/bank-of-america-corporation-reiterates-buy-rating-for-apple-inc-nasdaqaapl-updated-updated.html.

Several research firms have commented on AAPL. Nomura reiterated a buy rating and issued a $135.00 price objective on shares of Apple in a report on Thursday, March 23rd. Hilliard Lyons raised their price objective on shares of Apple from $147.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, May 15th. Apple presently has a consensus rating of "Buy" and a consensus target price of $161.67. Also, insider Luca Maestri sold 4,757 shares of Apple stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $155.32, for a total value of $1,855,918.68.

Consider, since hitting a record high of $156.65 per share in May, the shares have fallen as much as 10% to a low of around $142, driven by rumors that the company's highly-anticipated iPhone 8 could be delayed.

For the first time in 14 quarters iPad shipments increased, rising by 15% to 11.42 million units behind strong sales to schools and businesses. Following the completion of the transaction, the insider now directly owns 3,414 shares of the company's stock, valued at $528,145.80. The disclosure for this sale can be found here. Insiders sold a total of 373,000 shares of company stock valued at $56,497,046 over the last 90 days.

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