Retirement Systems of Alabama lowered its position in Apple Inc. (NASDAQ:AAPL) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,507,357 shares of the iPhone maker’s stock after selling 38,128 shares during the period. Apple makes up approximately 2.7% of Retirement Systems of Alabama’s investment portfolio, making the stock its 2nd largest holding. Retirement Systems of Alabama owned 0.07% of Apple worth $505,130,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Hefty Wealth Partners boosted its position in Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares in the last quarter. American Beacon Advisors Inc. purchased a new stake in Apple in the 1st quarter worth approximately $117,000. State of Alaska Department of Revenue purchased a new stake in Apple in the 2nd quarter worth approximately $149,000. D. Scott Neal Inc. boosted its position in Apple by 19.8% in the 2nd quarter. D. Scott Neal Inc. now owns 1,212 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 200 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC boosted its position in Apple by 4.0% in the 2nd quarter. Advocacy Wealth Management Services LLC now owns 1,337 shares of the iPhone maker’s stock worth $193,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 60.38% of the company’s stock.
Several research firms have commented on AAPL. Vetr upgraded Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price objective on the stock in a research report on Friday, September 22nd. Rosenblatt Securities restated a “hold” rating and issued a $150.00 price objective on shares of Apple in a research report on Sunday, October 15th. Citigroup Inc. restated a “buy” rating and issued a $200.00 price objective (up previously from $170.00) on shares of Apple in a research report on Friday, November 3rd. They noted that the move was a valuation call. Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 target price on shares of Apple in a research note on Tuesday, September 26th. Finally, Pacific Crest raised Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 target price for the company in a research note on Monday, October 16th. Six equities research analysts have rated the stock with a hold rating and forty-seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $199.29.
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Shares of Apple Inc. (NASDAQ:AAPL) opened at $171.34 on Wednesday. Apple Inc. has a 1 year low of $106.16 and a 1 year high of $176.24. The firm has a market capitalization of $893,216.25, a P/E ratio of 18.91, a PEG ratio of 1.40 and a beta of 1.23. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. Apple had a return on equity of 36.29% and a net margin of 21.09%. The business had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. During the same period in the prior year, the company posted $1.50 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. research analysts predict that Apple Inc. will post 11.15 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio (DPR) is 27.39%.
In related news, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Insiders sold a total of 394,711 shares of company stock valued at $62,660,786 over the last three months. Corporate insiders own 0.08% of the company’s stock.
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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