S&CO Inc. reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% during the third quarter, Holdings Channel reports. The fund owned 94,220 shares of the iPhone maker’s stock after selling 2,820 shares during the period. Apple comprises about 1.9% of S&CO Inc.’s investment portfolio, making the stock its 18th biggest position. S&CO Inc.’s holdings in Apple were worth $14,521,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Blue Sky Asset Management LLC bought a new position in shares of Apple in the second quarter worth approximately $108,000. FNY Managed Accounts LLC grew its holdings in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares during the last quarter. Private Vista LLC bought a new position in shares of Apple in the second quarter worth approximately $122,000. Armbruster Capital Management Inc. boosted its holdings in Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after acquiring an additional 78 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Apple in the second quarter valued at $149,000. Institutional investors and hedge funds own 60.23% of the company’s stock.
In other Apple news, insider Eduardo H. Cue sold 65,361 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the completion of the transaction, the insider now directly owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,412 shares of company stock valued at $22,115,155. 0.06% of the stock is owned by insiders.
Apple Inc. (NASDAQ AAPL) opened at $156.49 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20. The stock has a market capitalization of $814,379.13, a PE ratio of 16.08, a PEG ratio of 1.28 and a beta of 1.31. Apple Inc. has a 52-week low of $128.90 and a 52-week high of $180.10.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.82 by $0.07. The firm had revenue of $88.29 billion during the quarter, compared to analyst estimates of $87.62 billion. Apple had a return on equity of 37.37% and a net margin of 21.13%. Apple’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.36 EPS. research analysts expect that Apple Inc. will post 11.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 12th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, February 9th. Apple’s dividend payout ratio is presently 25.90%.
Several research firms recently weighed in on AAPL. KeyCorp reiterated an “equal weight” rating on shares of Apple in a report on Sunday. Morgan Stanley lifted their price target on shares of Apple from $200.00 to $203.00 and gave the company an “overweight” rating in a report on Friday. Morningstar set a $170.00 price target on shares of Apple and gave the company a “neutral” rating in a report on Friday. Needham & Company LLC lifted their price target on shares of Apple to $210.00 and gave the company a “buy” rating in a report on Friday. Finally, UBS Group set a $190.00 price target on shares of Apple and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Apple presently has a consensus rating of “Buy” and an average target price of $201.91.
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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