Cambridge Trust Co. Decreases Holdings in Apple Inc. (AAPL)

Cambridge Trust Co. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 243,316 shares of the iPhone maker’s stock after selling 7,901 shares during the period. Apple accounts for about 2.4% of Cambridge Trust Co.’s investment portfolio, making the stock its 7th largest position. Cambridge Trust Co.’s holdings in Apple were worth $35,043,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Saratoga Research & Investment Management raised its position in shares of Apple by 0.6% during the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock valued at $95,840,000 after buying an additional 4,137 shares during the last quarter. Green Square Capital LLC grew its holdings in shares of Apple by 6.7% in the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock valued at $12,564,000 after purchasing an additional 5,491 shares in the last quarter. Headinvest LLC grew its holdings in shares of Apple by 2.5% in the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock valued at $2,347,000 after purchasing an additional 390 shares in the last quarter. YHB Investment Advisors Inc. grew its holdings in shares of Apple by 7.6% in the second quarter. YHB Investment Advisors Inc. now owns 136,189 shares of the iPhone maker’s stock valued at $19,614,000 after purchasing an additional 9,663 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA grew its holdings in shares of Apple by 2.1% in the second quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock valued at $5,377,000 after purchasing an additional 779 shares in the last quarter. Institutional investors own 60.38% of the company’s stock.

Shares of Apple Inc. (NASDAQ AAPL) opened at $171.34 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. Apple Inc. has a 12 month low of $106.16 and a 12 month high of $176.24. The firm has a market capitalization of $893,216.25, a P/E ratio of 18.91, a P/E/G ratio of 1.40 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. During the same period in the previous year, the business earned $1.50 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. research analysts anticipate that Apple Inc. will post 11.15 EPS for the current year.

The company 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 dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $2.52 annualized dividend and a yield of 1.47%. Apple’s dividend payout ratio is presently 27.39%.

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A number of research analysts recently weighed in on AAPL shares. Barclays PLC reissued a “hold” rating and issued a $146.00 target price on shares of Apple in a report on Monday, September 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Apple in a report on Monday, September 11th. Morgan Stanley reissued an “overweight” rating and issued a $194.00 target price (up from $182.00) on shares of Apple in a report on Tuesday, September 12th. Credit Suisse Group reissued an “outperform” rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie raised their target price on shares of Apple from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $199.29.

In related news, insider Johny Srouji sold 5,892 shares of Apple stock in a transaction on Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the transaction, the insider now directly owns 70,358 shares of the company’s stock, valued at $11,327,638. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 394,711 shares of company stock valued at $62,660,786. 0.08% of the stock is currently owned by insiders.

Apple Profile

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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