Carderock Capital Management Inc. reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,572 shares of the iPhone maker’s stock after selling 2,092 shares during the quarter. Apple accounts for about 3.3% of Carderock Capital Management Inc.’s investment portfolio, making the stock its largest position. Carderock Capital Management Inc.’s holdings in Apple were worth $7,283,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Sky Asset Management LLC bought a new position in shares of Apple during the 2nd quarter valued at about $108,000. Hefty Wealth Partners increased its position in shares of Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares during the last quarter. American Beacon Advisors Inc. bought a new position in shares of Apple during the 1st quarter valued at about $117,000. Armbruster Capital Management Inc. increased its position in shares of Apple by 9.4% during the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after purchasing an additional 78 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Apple during the 2nd quarter valued at about $149,000. Institutional investors and hedge funds own 59.56% of the company’s stock.
In related news, insider Eduardo H. Cue sold 65,361 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total transaction of $11,215,947.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johny Srouji sold 10,368 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $174.68, for a total value of $1,811,082.24. Following the transaction, the insider now directly owns 81,560 shares of the company’s stock, valued at approximately $14,246,900.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 217,326 shares of company stock valued at $35,290,561. 0.08% of the stock is currently owned by company insiders.
Apple Inc. (NASDAQ:AAPL) opened at $169.01 on Thursday. The company has a market capitalization of $870,984.69, a P/E ratio of 18.44, a PEG ratio of 1.36 and a beta of 1.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23. Apple Inc. has a one year low of $109.16 and a one year high of $176.24.
Apple (NASDAQ:AAPL) last released its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 EPS. analysts expect that Apple Inc. will post 11.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Friday, November 10th. Apple’s payout ratio is presently 27.39%.
AAPL has been the topic of several recent research reports. Barclays reiterated a “hold” rating and set a $146.00 price objective on shares of Apple in a research report on Monday, September 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $180.00 price objective on shares of Apple in a research report on Monday, September 11th. Morgan Stanley reiterated an “overweight” rating and set a $194.00 price objective (up from $182.00) on shares of Apple in a research report on Tuesday, September 12th. Mizuho set a $160.00 price objective on Apple and gave the company a “hold” rating in a research report on Wednesday, October 18th. Finally, Vetr cut Apple from a “buy” rating to a “hold” rating and set a $178.34 target price for the company. in a report on Friday, December 1st. Seven analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $200.27.
Apple Company 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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